By Jonathan Davies
HSBC has said it is considering moving its headquarters out of London, and even out of the UK.
The banking giant said it is considering a move after "regulatory and structural reforms" following the financial crisis.
HSBC's board has asked its management to "look at where the best place is for HSBC to be headquartered in this new environment".
"The question is a complex one and it is too soon to say how long this will take or what the conclusion will be; but the work is underway," the bank said.
Around 80% of HSBC's money is made in Asia, prompting suggestions that it could consider moving its headquarters out of the UK altogether.
HSBC shares rose 2% after the announcement.