HSBC chief technology and services officer Ken Harvey comments: "We have determined that we can meet our foreseeable short and medium-term European business needs with this expanded capacity and through better utilisation of our global data centre network." News of the rethink comes just weeks after HSBC announced plans to shutter seven regional offices and cut 1700 support jobs in its retail banking network. In March, the banking giant undertook a cull of 1200 UK staff, with the cuts affecting back office processing, IT, human resources and finance roles.