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Barclays Move Would Be Great For the City, Mayor Says

By DNAinfo Staff on March 30, 2011 4:34pm

Barclays in London.
Barclays in London.
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Flickr/Pricey

By Jill Colvin

DNAinfo Reporter/Producer

CITY HALL — Mayor Michael Bloomberg said Barclays relocating its headquarters from London to New York would be terrific news for the city.

"I hope they move here. That would be great for us," the mayor told reporters at a press conference Wednesday, following a report that the banking giant was considering a move.

He described the competition between cities for big business as "a constant battle."

But whether Barclays is actually planning to move is up for debate.

The Wall Street Journal reported Wednesday morning that Barclays is considering the move because of uncertainty surrounding banking regulations in the U.K.

A source told the paper the bank is currently analyzing "the likely regulatory hurdles to switching its domicile" and that no decision is expected until at least the fall.

But later Wednesday, Bloomberg News reported that the banks' chief executive officer told a conference in London that he plans to remain there.

"Of course, it's our obligation on behalf of our shareholders to look at the alternatives, but this is home and where we want to stay," he was quoted as saying.

The mayor said that he has not been involved in any negotiations with the bank and that the city would not offer any special incentives to temp a move.

Still, he applauded the idea.

"We want corporations to come here, move their business here. That's what's going to pay for all the services that we want to provide," he said.