Conservative Party Conference 2016: Nigel Hinshelwood, head of HSBC UK, has called on other banks to leave London to boost development across the country.
HSBC is moving its UK headquarters for its retail and banking operations to Arena Central, Birmingham, in 2017. The move will see 1,000 jobs relocated out of London.
Speaking to Estates Gazette at the Conservative Party Conference in Birmingham, Hinshelwood said: “With 90,000 professional services employees within the West Midlands, I think it’s crucial that one gets access to those and also grows talent in the regions.
“I’d encourage other banks maybe not to come to Birmingham, but to go to other centres and continue that development across the country.”
At the same event hosted by policy think-tank Centre for Cities, communities secretary Sajid Javid linked regeneration in Birmingham to the government’s industrial strategy and commitment to closing the productivity gap between London and the rest of the country.
Hinshelwood said he was confident about accessing talent in the West Midlands.
He said: “We’re very focused on the West Midlands at the moment and Birmingham because of the wonderful university infrastructure – over 20 world-class universities.
“We’ve now launched the centre of excellence for financial services here in Birmingham.”
He added: “I hope it won’t be a challenge and of that 1,000 [jobs], over the last eight months we’ve already recruited 250 new people into our organisation here in Birmingham.”
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