The Hong Kong Monetary Authority questioned HSBC Holdings (HKG:0005) over its decision to establish a global artificial intelligence hub in Singapore rather than Hong Kong, the Financial Times reported Tuesday, citing two people familiar with the matter.

HSBC announced in July that the Singapore hub would hire over 100 AI specialists to support its wealth management and payments businesses. The lender already has AI teams in Hong Kong and the UK and is also developing an AI research institute in Hong Kong, the report said.

The authority has also held discussions with HSBC and Standard Chartered (HKG:2888) about relocating more senior executives and roles to Hong Kong, according to the report.

An HKMA spokesperson said in an email response to MT Newswires that the authority "regularly engages with authorized institutions on a wide range of matters" but does not comment on day-to-day supervisory dialogues or speculative remarks.

HSBC and Standard Chartered did not immediately respond to requests for comment.

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