HSBC CEO moves to Hong Kong

By Steve Slater and Michael Flaherty

LONDON/HONG KONG (Reuters) - HSBC Holdings (HSBA.L) (0005.HK) is swinging its power base back to its place of birth 144 years ago by moving its chief executive to Hong Kong as it increasingly focuses on Asia.

HSBC, Europe's biggest bank, said on Friday it will stay based in London for tax purposes and had no plans to move, and the Financial Services Authority will remain its lead regulator.

But CEO Michael Geoghegan will move to Hong Kong from February.

"It's about building this business in Asia. We know the business is coming our way and we intend to be here to take it," Geoghegan told reporters on a conference call.

"West is coming east and we want to be at the gate into China and be in China itself, and the most logical place to work on that strategy is Hong Kong," he added.

He told reporters in Hong Kong it will allow the bank "to be faster on our feet" in the region.

HSBC wants to be one of the first overseas companies to list its shares in Shanghai, and Chairman Stephen Green said it remains in talks with the authorities there to do so. He declined to say when it is likely to happen.

The bank will look to raise between $3 billion (1.9 billion pounds) and $7 billion as part of a Shanghai listing, probably next year, people familiar with the matter have told Reuters.