HSBC relocates business arm to Birmingham
HSBC is relocating its business and personal banking divisions from London to Birmingham, the BBC has reported. Around 1,000 jobs will be transferred as a result of the move, which will begin in mid-2017.
According to Birmingham City Council, the bank is in “advanced negotiations” for a 250-year lease on a new office in the city’s enterprise zone.
In 1992 HSBC acquired Birmingham-based Midland Bank.