Barclays boss Diamond 'happy to be in London'
The boss of Barclays insisted that he was happy to keep his headquarters in London - despite attempts by the US authorities to lure the British bank across the Atlantic.
Bob Diamond: 'This is home and where we want to stay'
Barclays has been actively considering moving its base overseas to escape the UK bank regulations, which have tightened significantly in the wake of the 2008 financial crash.
But chief executive Bob Diamond yesterday declared: 'London is where we want to be. This is home and where we want to stay.'
However, he stressed that Barclays had an 'obligation' to consider moving its headquarters abroad if it could boost returns for its shareholders.
HSBC, Standard Chartered and Barclays have in the past warned that they could quit Britain if the regulatory regime puts them at a disadvantage compared to US and Asian competitors.
New York's mayor Michael Bloomberg last night said he would welcome Barclays with open arms if the British institution chose to decamp to Manhattan.
City analysts believe that shareholders could ultimately force Barclays (down 2.2p to 283.725p) to move abroad if tighter UK regulations drive down the long-term profitability of the bank.
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