DATOR, HONG KONG
ELEPHONE: 826 1888 FAX: (852) 845 0223 TELEX: HX 75144
BARCLAYS BANK
PLC
17/F TWO PACIFIC PLACE 88 QUEENSWAY HONG KONG
42
STRICTLY CONFIDENTIAL
IND
January 15, 1991
Destroy after Register
in Geokty
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Mr. Peter Heap
British Trade Commission
Bank of America Tower
Harcourt Road
Hong Kong
Dear Peter,
UK Passport Scheme
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24/1 i. comes ledus
Further to my letter of December 24 and our subsequent telephone conversation, I would just record the additional point that I made:
That our Merchant Banking Division which is doing regional business the bulk of which originates outside Hong Kong has no legal or business reason for being based in Hong Kong. It could just as easily (and at very short notice) be moved to, say, Singapore or Bangkok.
This makes a very clear contrast with the many bankers involved in domestic commercial banking where by far the greatest part of their customer base will be resident in Hong Kong. It goes without saying that they have no similar option to move their operations overseas.
Yours sincerely,
Mark
Mark Tress
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