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HSBC to move HQ to Birmingham

Words: Laura Edgar

HSBC has announced that it will be relocating the national head office of its ring-fenced bank to Birmingham city centre.

The office will serve its personal and business customers, with 1,000 roles currently based in London moving to Birmingham from mid-2017 onwards.

Antonio Simoes, HSBC chief executive, explained: “We have been looking at options for the head office of our ring-fenced bank for some time. It became clear to us that Birmingham would be the right location. The city is close to London, but also brings us within easy reach of our 16 million customers based across the UK. Birmingham is a vibrant, growing city that has the expertise and infrastructure to support our ring-fenced bank and brings us a step closer to our ambition of being the bank of choice in the UK.”

HSBC is in advance negotiations to conclude the acquisition of a 250-year lease on an office in Arena Central, which is in Birmingham’s Enterprise Zone.

Andy Street, chair of the Greater Birmingham and Solihull LEP, said: “HSBC’s move to Birmingham will enable the bank to capitalise on all the benefits the city can offer. Supported by the Birmingham City Centre Enterprise Zone, we are ploughing new funding into the local area to boost its connectivity, skills and infrastructure.”

Street added that the location of HSBC’s head office in Birmingham, within the enterprise zone, “will provide a tangible reminder of the scale of investment we are now attracting into the region”.

Sir Albert Bore, leader of Birmingham City Council, said the council would continue to support and advise the bank in its plans to move forward.