Business Live: Tesco; UK economy – BBC News

Ian Stuart, UK chief executive at HSBC, has told BBC Breakfast that even though 1,000 jobs could be lost in the country after Brexit, the bank will be in the UK for “many years to come” – with 43,000 employees here.

He added: “Depending on a hard or soft Brexit that number [1,000 jobs] might be slightly less than that, so it’s going to be updated all the time. We’re still in uncharted waters today and we don’t know exactly how it’s going to look, so we’ve got to plan ahead.

“At the moment the number is capped at 1,000. It may be slightly less.”

HSBC is one of a number of banks looking to move operations to other EU countries, should the UK lose its passporting rights for clearing euro-denomianted transactions.

His comments come as the bank launched a new £10bn fund for small and medium sized businesses.

Business Live: Tesco; UK economy – BBC News