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Quotes from the news wire:
Vindication of sorts is a good way to put it.
– Hugh Young
He is certainly not damaged, he acted pretty professionally, and now it's back to running the bank and getting it back in shape.
It would have been a bloody big job to move. And until the UK government started attacking the likes of HSBC, they didn't have any desire to move, the tax concessions are a good thing. What Gulliver needs to do now is tidy up the bank.
It would have been a bloody big job to move. And until the UK government started attacking the likes of HSBC, they (HSBC) didn't have any desire to move, the tax concessions are a good thing. What Gulliver needs to do now is tidy up the bank.
They will have to be very careful to make sure they don't waste a lot of money or make bad loans.
No one should be under any illusion that it’s as simple as moving a brass plate from one city to another. It is far more complex than that and involves local, regional and global regulatory frameworks, costs and the future strategic shape of HSBC.
From a purely economic point of view, given it's taxed hundreds of millions for being in London and that's not really where its business is. Yes, in a sense it should move overnight.
I think it's fundamentally not a bad bank. Yes, it made some mistakes that banks make, but not fatal mistakes - relatively straight forward.
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"Hugh Young Quotes." Quotes.net. STANDS4 LLC, 2020. Web. 28 Nov. 2020. <https://www.quotes.net/authors/Hugh+Young+Quotes>.