This morning the City of London and the UK Government are breathing a sigh of relief as HSBC, Europe's largest bank have announced that they will be keeping their world headquarters in London's Canary Wharf.
However the news isn't all good as uncertainty over a possible Brexit may see the bank transfer 20% of their staff to Paris.
Given the above, how many more jobs may we see leaving the City should the UK vote to leave the EU and how will that impact the global mobility industry?
As the time when the Government sets the date for the referendum draws ever closer, and with the no vote currently ahead in the polls, this is the time for us all to be asking: are we prepared for Brexit ?
HSBC might not be relocating its headquarters to Hong Kong - but the bank could shift as many as 1,000 investment bank jobs to its Paris office if Britain leaves the EU. Only last night the bank revealed it was staying put after months of uncertainty over its future in London. It noted that the UK was an “important and globally connected economy”, with “an internationally respected regulatory framework and legal system”. However, a possible Brexit would have a "significant impact on our non-ringfenced bank", chief executive Stuart Gulliver said this morning, meaning "a number of jobs would leave the UK".
