October 30, 2017 / 9:29 AM / in a year

HSBC says it might move fewer than 1000 jobs to Paris on Brexit

LONDON (Reuters) - HSBC (HSBA.L) may move fewer than 1000 jobs to Paris following Britain’s exit from the European Union, the bank’s finance director Iain Mackay said on Monday.

FILE PHOTO: The HSBC bank logo is seen at their offices in the Canary Wharf financial district in London, Britain, March 3, 2016. REUTERS/Reinhard Krause/File Photo

“It may be less than 1000 employees, but it’s up to 1000,” Mackay told reporters on a conference call.

Previous comments from senior HSBC executives had emphasized the number of jobs to move would be 1000.

Mackay said the bank had booked $12 million in costs for the third quarter in relation to Brexit, mostly spent on legal advice regarding contingency planning. The bank still expects to spend $200-$300 million in total on Brexit relocation costs, he said.

Reporting by Lawrence White; editing by Jason Neely

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