Is it time to break up HSBC? | Business | The Sunday Times

When HSBC commissioned a new Hong Kong HQ, the brief was to create the best bank building in the world. The Norman Foster-designed skyscraper was completed in 1985 and served as a symbol of capitalism in the decade before Britain handed back Hong Kong to China in 1997.

Legend has it that the building, with its distinctive outline on the Hong Kong skyline, was designed so it could be easily dismantled and relocated elsewhere.

In a way, that came to pass. In 1992, HSBC sealed the takeover of Midland Bank — a move that forced it to relocate its HQ to London.

The head office after the HSBC takeover

ALAMY

But, 30 years on, almost to the day, questions are being asked about how quickly the bank can return to its Asian roots.