HSBC chair: 'A pivot to Asia led from London'

HSBC chairman Douglas Flint said the banking giant's decision to keep its headquarters in London took 10 months to make and was based on "a "thoughtful perspective" about economics over the next 20, 25 years.

"It was not based on short-term dynamics, market dynamics, economic dynamics. It was based on a very thoughtful perspective on how economics will play out over the next 20, 25 years," he said.

"We ended up believing that the combination of a headquarters in London and the pivot to Asia where our major operating activities are, was our best answer," added Mr Flint.

(Image: HSBC sign Credit: BBC)