Though, the current HSBC Head Michael Geoghegan has no plans of quitting, still there are worldwide rumors that Global Head for Investment Banking, Mr. Gulliver is likely to be his successor.

Mr. Gulliver is giving hints that he and his bank may leave the city if banking reforms doesn't turn their way.

Mr. Gulliver said that the bank wants to remain in UK but the shifting of office of chief executive of HSBC to Hong Kong reflects the banks attachment to Asian Business.

Mr. Gulliver has been serving HSBC for the last 30 years. He had shifted to London in 2002 for running the investment banking division and replaced John Studzinski.

Mr. Gulliver in a conference sponsored by Nomura, the Japanese bank, said, "It is clearly possible that commission comes up with a recommendation to break up the banks."

Last month, Barclays executives have also revealed that the group will shift its headquarters and will sell off its UK business, if the British Government appointed the Commission on Banking. 

Yesterday, Chief Executive of Standard Chartered, Peter Sands, had also warned that the bank will also move out of the UK.

On Thursday, HSBC said that the potential threat to the banks in the UK is that banks are not able to work in order with rest of the world.