According to Reuters, HSBC said that although the CEO will spend time in both London and in Asia, his principle headquarters will be in the latter.
The comments came after a previous report suggested that Mr Gulliver would be relocating to London from Hong Kong where he has worked for much of his career with the bank.
Richard Beck, spokesman for HSBC, told the news provider: âThe group CEO's principal office remains in Hong Kong, there's no change in that.â
Mr Gulliver has a permanent residency in Hong Kong and is expected to move back into a HSBC owned-home he previously inhabited within the city.
Michael Geoghegan, the former HSBC CEO, moved his headquarters to Hong Kong in February of 2009.
He left the company after a board room reshuffle following the announcement of the departure of then chairman Stephen Green.
Mr Green left his post to take on the role of UK trade minister with the coalition government - he was later replaced by Douglas Flint.
By Jim Ottewill