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StanChart says HQ under review amid rising UK bank tax
[LONDON] Standard Chartered said it continued to keep its domicile under review, particularly given the likelihood Britain's bank tax will continue to rise, raising the prospect it could leave London for Asia.
Standard Chartered Chairman John Peace told investors on Wednesday this year's rise in Britain's bank levy was relevant to how it viewed its best headquarters, echoing comments by rival HSBC, which has launched a formal review of its HQ and will decide whether to move in the next few months.
Mr Peace said the bank was taking action to turn around its fortunes after a grim two years, but he said it would not take "any knee-jerk actions" that would damage its long-term prospects.