Banking -- Is transformation imminent in the West?

Michael Geoghegan, HSBC Group's chief executive, presents his views on the emerging markets such as Asia, Middle East and Latin Americas in his talk at RSA.  Half way through his talk,  he also highlights the state of the affairs in the West with regards to the capital markets and suggests what role should the West play in the continuously changing eco-system. With the backdrop of slow growth and development in the West and in contrast, the east and the south charging forward with impressive GDP growth numbers, he argues that the West should take much more participative role in the world markets, rather than keeping itself on the sidelines and delineating itself from the growth prospects happening elsewhere.
The conversation ends up in a somewhat loaded question to the outgoing chief as to whether HSBC would move its HQ to Hong Kong, if the Unilateral Banking reforms were to enforce banks such as Barclays and HSBC to split up into small groups.  Capital markets around the world in 34 minutes via RSA.org. Between the first term in Shanghai, China and our next term in London, the talk very much sums up the kind of issues that we are tackling in our Cross-continent program.