HSBC France SA is leaving its headquarters at the Champs Elysees avenue in Paris amid HSBC Holdings PLC's plan to off-load its French retail banking operations to cut costs, people familiar with the told Reuters.
A spokeswoman said employees would be informed of the plan soon, according to the Oct. 16 report. HSBC France has been renting the office space after selling it to Qatari investors in 2009, the report noted.
It comes after HSBC Holdings reportedly tapped Lazard Ltd. to sell its retail operations in France. In September, the group was said to be planning a strategic review of the business.