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Executives of HSBC Friday gives them their strongest signal yet that the Bank could leave the UK, as they revealed the concerns of foreign investors in rising costs of being based in London.

Present a trading update on financial performance in the third quarter, HSBC outgoing Chief Executive Michael Geoghegan and his successor Stuart Gulliver each invited the Government to ensure rules UK and European financial sector compensation will not be competitive, British banks in particular to u.s. competitors.

"In a country like Hong Kong, the Brazil the India we feel very difficult now to compete with the American and local banks, because they are not subject to the same rules", said Mr. Gulliver.

Mr. said Gulliver that HSBC has identified at least 15 cases where the Bank has step could hire staff in Hong Kong, because it is forbidden to offer premium two years guarantees that are standard in the local market.

HSBC will examine his home arrangements next year in its process of systematic review in three years, and Mr. Gulliver refused to say how the Bank would respond if the British authorities does not remove certain pay he feels rules hamper his company.

The update for the third quarter confirmed profits before taxes of HSBC, that remained "well in advance" levels of 2009, while the Bank acknowledged that he had seen a slow down in the second only half compared to the first six months of the year.

Asia represents the largest share of profits during the quarter, however, the United States were more enhanced Bank Regional Affairs.

Global banking and markets, investment banking arm of HSBC, implement a "robust performance" in the third quarter, according to the Bank, but he said trade volumes were lower among the "most subdued market sentiment.

Shares closed HSBC 2 1pc Friday 680.8 p.

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