29/12/2008
Banking giant HSBC has decided against relocating its headquarters from the City and will maintain its presence in London's financial heartland.
The organisation, which is Europe's largest firm of its kind by market value, has concluded that the capital is the most suitable location for its main base.
According to the Telegraph, the company holds a review every three years and after the recent meeting the company's bosses, including executive chairman Stephen Green and chief executive Michael Geoghegan, decided the current base in the City is the most appropriate.
The headquarters is located at Canada Square in London's Dockland's area and has been the bank's home since 1993.
In other commercial property news, the Metropolitan Police Authority recently sealed a deal to buy New Scotland Yard for a price of £120 million.
The 400,000 sq ft building is located on Broadway in London and has been the authority's headquarters since 1967.
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