We know that the systemically important part of the bank for this country is staying here under the awe-inspiring name of HSBC and will be relocating to Birmingham.
So take your investment bankers, corporate financiers and bond traders off to warmer climes, where they can enjoy personal tax rates of 10% and no one will blink when they are awarded multi-million-dollar bonuses.
But when the Chinese politburo decides that it would prefer a state-owned HSBC issuing its renminbi bonds to a privately owned one, don’t come crawling back here begging for another tower block in Docklands.
