HSBC Holdings plc is a
public limited company incorporated
in
England and Wales in 1990, and
headquartered in London since 1993. As of 2009, it is both the
world's largest banking group and the world's 6th largest company
according to a composite measure by
Forbes magazine.Hong Kong served as the bank¹s
headquarters until 1992 when it was forced to move to London as a
condition of completing the acquisition of
Midland Bank. Today, whilst no single
geographical area dominates the group's earnings, Hong Kong still
continues to be a significant source of its income. Recent
acquisitions and expansion in China are returning HSBC to part of
its roots. HSBC has an enormous operational base in Asia and
significant
lending,
investment, and
insurance activities around the world. The company
has a global reach and financial fundamentals matched by few other
banking or financial multinationals.
HSBC is
listed on the London, New York, Hong Kong, Paris and Bermuda
Stock Exchanges, and is a constituent of the
FTSE 100 Index and the Hang Seng Index.
History
Development of the bank
HSBC (originally the "Hongkong and Shanghai Banking Corporation")
was founded in 1865. HSBC Holdings was established in 1990 and
became the parent company to The Hongkong and Shanghai Banking
Corporation in preparation for its purchase of Midland Bank and a
change of domicile for the
transfer of sovereignty of
Hong Kong. Shares in HSBC Holdings, which gave HSBC a
substantial presence in the UK, was completed in 1992. As part of
the takeover conditions for the purchase of Midland, HSBC was
forced to move it's world
headquarters
from Hong Kong to London in 1993.Major acquisitions in South
America started with the purchase of Banco Bamerindus of Brazil for
$1bn in March 1997
and the acquisition of Roberts SA de
Inversiones of Argentina
for $600m in May 1997.
In May 1999 HSBC embarked on a major acquisition in the United
States with the purchase of Republic National Bank of New York for
$10.3bn.
Expansion into
Continental Europe
took place in April 2000 with the acquisition of
Crédit Commercial de
France, a large French bank for £6.6bn.
In July 2001 HSBC bought
Demirbank, an
insolvent Turkish bank. Then in August
2002 HSBC acquired Grupo Financiero Bital, SA de CV, Mexico's third
largest retail bank for $1.1bn.
The new
headquarters of HSBC Holdings at 8 Canada Square
, London officially opened in April
2003.
Then in September 2003 HSBC bought Polski Kredyt Bank SA of Poland
for $7.8m.
A
terrorist attack took place in November 2003: a bomb blast in Istanbul
damaged the
bank’s head office in Turkey, causing several deaths and hundreds
of injuries.
In June 2004 HSBC expanded into China buying 19.9% of the
Bank of Communications of
Shanghai.
In the United Kingdom HSBC acquired Marks & Spencer Retail
Financial Services Holdings Ltd for £763m in December 2004.
Acquisitions in 2005 included Metris Inc, a
US credit card issuer for $1.6bn in August and 70.1% of Dar Es
Salaam Investment Bank of Iraq
in
October.
In April 2006 HSBC bought the 90 branches in Argentina of
Banca Nazionale del Lavoro for
$155m.
In
December 2007 HSBC acquired The Chinese Bank in Taiwan
.
In May 2008 HSBC acquired
IL&FS
Investment, an Indian retail broking firm.
In February 2010, HSBC Group CEO Office will be permanently based
in Hong Kong, its birthplace.
Subprime crisis
In November 2002 HSBC expanded further in the United States. Under
the chairmanship of Sir John Bond, it spent £9bn (US$15.5bn) to
acquire
Household Finance Corporation ,
a US credit card issuer and
subprime
lender. In a 2003 cover story,
The
Banker noted "when banking historians look back, they may
conclude that [it] was the deal of the first decade of the 21st
century". Under the new name of
HSBC
Finance, the division was the second largest subprime lender in
the US.
The business turned sour, costing HSBC US$62bn. In March 2009, HSBC
announced that it would shut down the branch network of its HSBC
Finance arm in the U.S., leading to nearly 6,000 job losses and
leaving only the credit card business to continue operating.
Chairman
Stephen Green
stated, "HSBC has a reputation for telling it as it is. With the
benefit of hindsight, this is an acquisition we wish we had not
undertaken."; analyst Colin Morton said, "the takeover was an
absolute disaster".
Although it was at the centre of the subprime storm, the wider
group has weathered the economic crisis better than other global
banks. According to
Bloomberg, "HSBC
is one of world’s strongest banks by some measures."
When HM Treasury
required all UK banks to increase their capital in
October 2007, the group transferred £750 million to London within
hours, and announced that it had just lent £4 billion to other UK
banks. In March 2009, it announced that it had made US$9.3bn
of profit in 2008 and announced a £12.5bn (US$17.7bn; HK$138bn)
rights issue to enable it to buy other
banks that were struggling to survive. However, uncertainty over
the rights' issue's implications for institutional investors caused
volatility in the Hong Kong stock market: on 9 March 2009 HSBC's
share price fell 24.14%, with 12 million shares sold in the last
few seconds of trading.
Operations
Corporate profile
In February 2008, HSBC was named the world's most valuable banking
brand by
The Banker magazine. Not known for marked
fluctuations in securities exchanges around the world relative to
its rivals, HSBC is more well known in banking circles for its
conservative and risk-averse approach in its business operations -
a company tradition going back to the 19th century. In its
technical management, however, HSBC has recently suffered a series
of headline-making incidents in which some customer data were
allegedly leaked or simply went missing. Although the consequences
turned out to be small, the embarrassing effect on the group's
image did not go unnoticed.
As of
April 2,
2008,
according to
Forbes magazine, HSBC was the fourth largest
bank in the world in terms of assets ($2,348.98 billion), the
second largest in terms of sales ($146.50 billion), the largest in
terms of market value ($180.81 billion). It was also the most
profitable bank in the world with $19.13 billion in net income in
2007 (compared to
Citigroup's $3.62
billion and
Bank of America's $14.98
billion in the same period).
HSBC is by far the largest bank both in the United Kingdom and in
Hong Kong and prints most of Hong Kong's local currency in its own
name. Since the end of 2005, HSBC has been rated the largest
banking group in the world by
Tier 1
capital.
The HSBC Group has a significant presence in each of the world's
major financial markets, with the Americas, Asia Pacific and Europe
each representing around one third of the business. With 8,500
offices in 86 countries, 210,000 shareholders, 330,000 staff and
128 million customers worldwide, HSBC arguably has the most
international presence among the world's multinational banking
giants.
The HSBC Group operates as a number of local banks around the
world, which explains its advertising
tagline "The World's Local Bank." Outlined below are
countries which, in 2007, generated the
top 20 profit before tax figures, with the addition of the United
States as specific issues exclude that country from the top 20 for
2007. For details of other group companies see
:Category:HSBC.
Americas
- HSBC Bank Argentina
SA has around 150 branches throughout Argentina
providing a full range of banking and financial products and
services to over 1.2 million customers.
- HSBC acquired The Bank of
Bermuda Limited in February 2004 for US$1.3bn. Founded
in 1889, Bank of Bermuda is a leading provider of fund
administration, trust, custody, asset management and banking
services. Since the acquisition the group has focused its global
efforts in some areas of these services on the island.
- HSBC Bank Brasil
SA is HSBC’s largest presence in South America. HSBC
is now among the ten largest banks in Brazil, with more than 1,700
branches and sub-branches in 550 Brazilian cities.
- HSBC Bank
Canada is the seventh largest bank in Canada, with
offices in every province except for Prince Edward
Island
, and is the largest foreign-owned bank in the
country. HSBC has a very strong presence in overseas Chinese communities, especially in
Vancouver and Toronto . The bank's headquarters are located in
Vancouver, British Columbia.
- HSBC Chile The HSBC
Group first set up operations in Chile in 1981. Presently, HSBC
Bank Chile is focusing on Global Banking and Commercial Bank
businesses.
- Banco HSBC S.A. operates
around 40 branches throughout the major cities and is the third
largest bank in the country. In the summer of 2007 HSBC acquired Grupo Banistmo in Panama, the owner of Banco
Banex in Costa
Rica
.
- HSBC Honduras has
49 branches and is one of the largest banks in the country. HSBC
acquired Banco Grupo El Ahorro Hondureño (BGA) when it acquired
Banistmo in Panama. Banistmo had bought the bank in 2002, about a
year after it was formed from the merger of Banco La Capitalizadora
Hondureña (Bancahsa; est. 1948) and the Banco del Ahorro
Hondureño.
- HSBC Mexico, SA is
one of Mexico’s largest banking and financial services companies
with over 1,400 branches, 4,800 ATMs and 6 million customers. HSBC
purchased Banco Internacional,
SA known as Bital, in November 2002, rebranding it overnight in
January 2004.
- HSBC
Panama, SA HSBC's presence in Panama
dates back
to 1972. In 2000, HSBC Bank USA
acquired Chase Manhattan's
full-service, stand-alone bank business, which includes retail and
wholesale capabilities. The acquisition included 11 full-service
branches: seven branches in Panama City
, two branches in Colon City
, one branch in David
and one
branch in Chitre
. At
the time of the acquisition, HSBC operated in Panama as a
full-service branch of HSBC Bank plc, with a strong franchise in
corporate business as well as five retail branches. The acquisition
of Chase Manhattan's business more than doubled HSBC's assets in
Panama. Then in 2006, HSBC bought Grupo Banistmo, the largest financial
services company in Central America, based in Panama for
$1.8bn.
- HSBC Bank Peru
S.A. In October 2006, HSBC began the first phase of
its plan business in Peru, with the aim of meeting small, medium
and large companies during the second half of 2007 is implemented
and a network of Personal Banking initial agency in Lima that will
expand gradually.
Asia Pacific
- HSBC Bank Australia
Limited gained its banking licence in 1986. Today, the
bank offers a full range of Personal and Commercial services via a
network of branches as well as direct channels.
- HSBC
Bangladesh opened its first branch in 1996 and now has
10 offices there.
- HSBC Bank Company
Limited and HSBC
Rural Bank Company Limited HSBC established its
Shanghai branch office on 3 April 1865 and has had a continuous
presence in the city since then, except for a break during the
Japanese Occupation. Until the economic reforms of the late 1970s,
its activities were mainly in inward remittances and export bills,
however its activities now span a wider range. HSBC has purchased
stakes in various local firms, including 19% of Bank of Communications, 8% of
Bank of Shanghai, 16.8% of Ping An Insurance and via its subsidiary
Hang Seng Bank, 12.8% of Industrial Bank. In 1996, HSBC was
one of the first foreign banks approved to conduct renminbi business in Shanghai. The bank opened a new
office in Chengdu
and received approval to open a branch in Pudong
and upgrade
its Dalian office to a branch.
- HSBC first opened for business in Hong Kong on 3 March 1865. It is one of three
commercial banks that issue Hong Kong
dollar banknotes in the Hong Kong SAR
and has the largest share by value. The Hang Seng Index for stock
prices in Hong Kong is named after the Hang Seng Bank Limited, which is a subsidiary
of HSBC. The two banks are today first and second by market share
in Hong Kong.
- HSBC
opened its first Indonesian office in Batavia
in 1884 to serve the sugar trade.
It then
expanded its operation to Surabaya
in 1896. Later in 1994 HSBC upgraded its Semarang
agency, which it had opened in 1878, into a full
branch. HSBC twice closed its operations in Indonesia. The
first closure was during World War II,
though it immediately returned after the war. In the mid-1960s, the
Indonesia government forced the bank to close again, but the bank
received a new banking license in 1968. In October 2008, HSBC paid
US$608 million to acquire 89% of Bank Ekonomi, which had 2,200
staff, 86 branches, and about US$1.8 billion in assets. The
acquisition made HSBC the third largest bank in the country, and
gave it a total of 190 branches in 24 cities.
- HSBC
Bank Malaysia Berhad traces its history back to the
opening of the first HSBC office in Penang
in
1884. The bank later became an issuer of currency notes for
the Malaysian government. In 1994, HSBC became the first foreign
bank to incorporate locally, forming Hongkong Bank Malaysia Berhad
(now HSBC Bank Malaysia Berhad). The bank today provides a full
range of personal and commercial financial services. HSBC Holdings
plc in London UK is set to shift a significant number of jobs from
Britain to its new operational headquarters in Cyberjaya, Malaysia.
HSBC
operates a call centre in Cyberjaya
,Malaysia, a cybercity in Malaysia.
- HSBC started its operations in Pakistan in 1982. Since then it
has expanded to all major cities of Pakistan and operates as a full
service bank. It currently has 12 offices: four in Karachi, two in
Lahore, two in Islamabad and one each in Rawalpindi, Sialkot,
Multan and Faisalabad. The head-office is based in Karachi.
- The HSBC Group is represented in the Philippines through The
Hongkong and Shanghai Banking Corporation Limited, and its
subsidiary, the locally-incorporated HSBC Savings Bank
(Philippines) Inc. HSBC opened its first branch in the Philippines
in Binondo in November 1875. In 1883, a second branch was opened in
Iloilo to serve the growing sugar industry. In 1971, the branch in
Binondo was moved to Makati City. Ten years later, in 1981, the
Iloilo branch was closed and a new branch in Ortigas Center, Pasig
City, was opened.
- HSBC Singapore operates as a full service bank with its
headquarters in Collyer Quay.
It is an
approved Primary Dealer in the Singapore Government Securities
Market and an Approved Bond Intermediary, with over a hundred staff
operating one of the largest integrated dealing rooms in Singapore
.
- HSBC
(Sri
Lanka
) traces its presence there to 1 July 1892.
In 1882, HSBC appointed Delmege Reid and Co., which became Delmege
Forsyth and Co. Ltd., as its agent in Colombo
. In 1892, after the collapse of the New Oriental Banking
Corporation HSBC saw an opportunity and established a
branch.
- HSBC
(Thailand) initially opened a branch in Bangkok
in 1888, becoming the first commercial bank in the
country. In 1889 HSBC issued the first banknotes in
Thailand
. Later, in 1905, HSBC joined with France's
Banque de l'Indochine to issue
the first foreign loan to the Thai
government for its railroad construction project.
- HSBC
Bank Company Limited HSBC has had a long history in
Vietnam, having opened a branch in Saigon
in 1870. The branch operated for over 100
years, until its closure in 1975. In 1992, the bank opened representative
offices in Ho Chi Minh City (HCMC) and Hanoi
; HSBC
upgraded the office in HCMC to a full-service branch in August
1995.
Europe
- HSBC Bank Armenia
cjsc is a 70 per cent indirectly owned subsidiary of
HSBC Bank. Armenian business interests own the remaining equity.
The bank
began operations as Midland Armenia Bank in Yerevan
in March 1996 and was the first international bank
to open in Armenia
. It is one of the leading banks in the
foreign exchange market.
- HSBC opened its Prague Branch in May 1997.
- HSBC SA operates
around 380 branches in France since the takeover of Credit Commercial de France,
primarily operating under the HSBC brand. HSBC France is now the
HSBC Group’s lead bank in the Eurozone,
focusing on certain capital market products for a global audience,
and high net worth and international business in France.
- HSBC Bank Georgia jsc
opened its first branch in Tbilisi
, Georgia
June 2008 and a second one in 2009. Its
offer as presented on the bank's website is tailored for corporate
customers and private/offshore banking.
- HSBC Trinkaus & Burkhardt
AG traces its origins to 1785. It has operations in
private, commercial and investment banking and asset
management.
- HSBC Hellas HSBC
has been operating in Greece since 1981. In 2001, HSBC acquired
Barclay's operations in Greece, which
amounted to 13 branches and included fund management.
- HSBC Bank Malta
plc is one of the largest banks in Malta. It is a
listed company but its majority shareholder is the HSBC Group. HSBC
Bank Malta traces its origins back to the founding of the Anglo-Egyptian Bank in 1864, which makes
it the second oldest bank in Malta.
- HSBC has limited operations in Poland - mainly private/offshore
banking.
- HSBC
(Spain) dates back to the establishment of a branch in Madrid
in
1982.
- HSBC
Private Bank is the Swiss
operating
subsidiaries of the group's Private Banking business, with 12
locations in the country.
- HSBC
Bank AS is now the fifth largest private bank in
Turkey
, having
expanded through internal financing and via acquisition since entering the
market in 1990. The bank has a network of around 190
branches, offering products and services to corporate, commercial
and personal customers, both under the HSBC brand as well as the
Advantage brand.
- HSBC
Bank plc is one of the "Big Five" high street banks in
the UK, maintaining a large network of branches in England and
Wales, with a smaller presence in Scotland and Northern
Ireland
. It acquired this presence in 1992 with the
acquisition of Midland Bank plc. It also operates the previously
Midland-owned telephone and internet bank First Direct, the consumer lending brand
Beneficial Finance, and the financial services divisions of
Marks & Spencer and the
John Lewis Partnership.
- In Russia, HSBC operates through HSBC Bank Ltd
(RR), which is the 109th largest bank in the country and
is an affiliate of HSBC Bank plc.
Middle East and Africa
- HSBC Algeria
commenced operating in 2008, after HSBC received permission in 2007
from the Bank of Algeria to
establish a subsidiary. The branch has a capital of 2,5 billion
dinars, or about 25 million euros, which it will increase to 3,6
billion dinars (36 million euros) within three years. It is headed
by an Algerian, Rachid Sekak, the former head of foreign debt at
the Bank of Algeria, who had earlier
came from HSBC's operations in Paris.
- HSBC Bank Egypt
SAE traces its origins to a joint-venture bank
established in 1982. In 2001 HSBC was able to increase its
ownership stake from 40% to 94.5%, after which it rebranded the
bank as part of the HSBC group.
- In
the Hashemite Kingdom of Jordan
, the HSBC Group is represented by HSBC
Bank Middle East Limited, the largest and most widely represented
international bank in the Middle East. HSBC's presence dates
back to its acquisition in 1959 of British Bank of the Middle
East, which had been present in Jordan since 1889.
- HSBC
Bank Middle East Limited . HSBC Oman
represents
a key part of HSBC Bank Middle East's business since 1959, with 6
branches and 3 customer services outlets. HSBC in Oman
offers a full range of Personal Financial Services such as Current
and Savings Accounts, Time Deposits, packaged financial products
like HSBC Premier and STATUS, Credit Cards, Personal Loans and Home
Loans.
- HSBC Bank Qatar provides a wide range of banking services for
both corporate and individual customers in Qatar. HSBC is the
largest foreign bank in Qatar and has five branches, in Doha Main
Office, Al Sadd, West Bay, FTB and Grand Hamad Street as well as a
large network of ATMs at 21 different locations.
- HSBC established an indirect presence in Sub-Saharan Africa in
1981 through Equator Bank, a joint
venture with Nedbank and the bank's
executives, and entered the South African market in 1995 with a
representative office. In 2003, HSBC converted the reop office in
Johannesburg
to a branch. The Johannesburg branch is now
the regional management office for all of HSBC's Sub-Saharan Africa
activities and offers corporate banking, transaction banking,
investment banking, treasury and capital markets services to HSBC's
major multinational clients, large local corporate and financial
institutions, and governments. HSBC Securities (South Africa)
offers equities services.
Global product lines and programmes
Group Service Centres
HSBC USA Corporate
Headquarters in New York City.
As a cost saving measure HSBC is
offshoring processing work to lower cost
economies in order to reduce the cost of providing services in
developed countries.
These locations take on work such as
data processing and customer service, but also internal
software engineering at
Pune
, Hyderabad
(India), Vishakhapatnam
(India), Kolkota
(India), Guangzhou
(China), and Curitiba
(Brazil).
Chief Operating Officer
Alan Jebson said
in March 2005 that he would be very surprised if fewer than 25,000
people were working in the centres over the next three years: “I
don’t have a precise target but I would be surprised if we had less
than 15 (global service centres) in three years’ time.” He went on
to say that each centre cost the bank from $20m to $30m to set up,
but that for every job moved the bank saves about $20,000
(£10,400).
Trade unions, particularly in the US and
UK, blame these centres for job losses in developed countries, and
also for the effective imposition of wage caps on their
members.
Currently
centres exist in seven countries, in Brazil
in
Curitiba, in Czech Republic in Ostrava
, in India in Hyderabad
, Bangalore
, Visakhapatnam
, Mumbai
, Gurgaon
, Kolkata
and Pune, in China
in Shanghai, Guangzhou and Shenzhen
, in Kuala
Lumpur
(Malaysia
), Colombo (Kotte
) (Sri Lanka) and Manila
(Philippines
). The Malta
trial for
a UK high value call centre has resulted in a growing operation in
Malta. An option under consideration is reported to
be a processing centre in Vietnam
to access the French skills of the population and
therefore cut costs in the bank’s French operation.
On
June 27,
2006, HSBC
reported that a "small number" of customers had suffered from fraud
totalling £233,000 after an employee at the Bangalore call centre
supplied confidential customer information to fraudsters.
HSBC Private Bank
HSBC Private Bank is the group's private banking operation,
providing private banking and trustee services to wealthy
individuals and their families worldwide. The Private Bank has in
excess of 60 offices worldwide, with the major centres being Miami,
New York, London, Geneva and Hong Kong.
HSBC Premier
HSBC Premier is the group's premium financial services product. The
exact benefits and qualification criteria vary depending on
country, but typically require deposits and investments of at least
$100,000, £50,000, or €100,000. Alternatively those who have an
individual annual income of at least £100,000 paid into their HSBC
Premier Bank Account and are a customer of the bank's Independent
Financial Advisory Service. Customers have a dedicated
relationship manager, global 24 hour
access to call centres and preferential rates.
HSBC Bank International
HSBC Bank International is
the
offshore banking arm of the HSBC
Group, focusing on providing offshore solutions and cross border
services to
expatriates and
migrants. It provides a full range of
multi-currency personal banking services to a range of customer
segments, including a full internet banking and telephone banking
service. Sometimes referred to as "HSBC Offshore", the business
also offers independent financial planning, and has representative
offices all over the world, often working alongside local HSBC
operations in those regions.
HSBC Bank
International originated from the business started by Midland Bank
and is based in the Channel Islands
with further operations on the Isle of Man
. Its operations in the Channel Islands are centred
around its registered headquarters on the seafront in St Helier
, Jersey
.
Named 'HSBC House', the building comprises departments such as
Premier, Global Funds & Investments, e-Business and a 24 hour
'Direct Banking Centre'.
HSBCnet
HSBCnet is a global service that caters to local business needs by
offering specialised functionality for different regions
worldwide.
The system provides access to transaction banking functionality -
ranging from payments and cash management to trade services
features - as well as to research and analytical content from HSBC.
It also includes foreign exchange and money markets trading
functionality.
The system is used widely by HSBC's high-end corporate and
institutional clients served variously by the bank's global banking
and markets, commercial banking and global transaction banking
divisions.
HSBCnet is also the brand under which HSBC markets its global
e-commerce proposition to its corporate and institutional
clients.
HFC Bank (UK Operation) is a wholly owned subsidiary, with 135 High
Street branches in the UK selling loans to the "sub-prime" market.
During 2007 and 2008, has been trying to fend off a union
recognition campaign by the Trade Union Unite.
HSBC Direct
HSBC Direct is an online direct banking operation which attracts
customers through high-interest savings accounts and no service
charges or minimum account balance requirements. It was first
launched in the USA in November 2005 and is now available in
Canada, Taiwan and South Korea. Poland is launching business direct
in September 2009.
Brand and advertising
The group announced in November 1999 that the HSBC brand and the
hexagon symbol would be adopted as the unified brand in all the
markets where HSBC operates, with the aim of enhancing recognition
of the group and its values by customers, shareholders and staff
throughout the world.
Logo
The hexagon symbol was originally adopted by The Hongkong and
Shanghai Banking Corporation as its logo in 1983. It was developed
from the bank’s house
flag, a white rectangle
divided diagonally to produce a red
hourglass shape. Like many other Hong
Kong company flags that originated in the 19th century, and because
of its founder's nationality, the design was based on the
cross of
Saint Andrew.
The logo was designed by graphic artist
Henry Steiner.
Sponsorship
Having sponsored the
Jaguar Racing
Formula One team since the days of
Stewart Grand Prix, HSBC ended
its relationship with the sport when
Red
Bull purchased Jaguar Racing from
Ford. HSBC has now switched its focus to
golf, taking title sponsorship of events such as the
HSBC World Match Play
Championship,
HSBC Women's World
Match Play Championship (now defunct),
HSBC Champions and
HSBC Women's Champions.
In football HSBC sponsors French club
AS
Monaco and Mexican club
C.F.
Pachuca, and in
rugby league, HSBC sponsors
Telford Raiders in the
Rugby League Conference. In
Australia, HSBC sponsors the
New South Wales Waratahs rugby team
in the
Super 14 rugby union competition, as well as the
Hawthorn Football Club in the
Australian Football
League.
In the
United States, HSBC owns the naming rights to the home
arena
of the National Hockey League's Buffalo Sabres until 2026.
HSBC’s other sponsorships are mainly in the area of education,
health and the environment. In November 2006, HSBC announced a $5
million partnership with
SOS
Children as part of Future First.
HSBC sponsors the Great Canadian Geography Challenge, which has had
around 2 million participants in the past 12 years.
Since 2001, HSBC has
sponsored the Celebration of
Light, an annual musical fireworks competition in Vancouver,
British
Columbia
, Canada. In 2007 HSBC announced it would be
a sponsor of the
National Hockey League's
Vancouver Canucks and
Calgary Flames. HSBC has also sponsored a
professional gaming team that was disbanded late 2007.
HSBC sponsored the 2009 British and Irish Lions Rugby Union tour of
South Africa.
HSBC is the official banking partner of the Wimbledon Tennis
Championships, providing banking facilities on site and renaming
the Road to Wimbledon junior event, as The HSBC Road to Wimbledon
National 14 and Under Challenge.
Customer groups
HSBC splits its business into four distinct groups:
Personal financial services
HSBC provides more than 100 million customers worldwide with a full
range of personal financial services, including
current and
savings accounts,
mortgage loans, car financing,
insurance,
credit
cards,
loans,
pensions and
investments.
Commercial banking
HSBC provides financial services to small, medium-sized and
middle-market enterprises. The group has almost 2.5 million of such
customers, including
sole
proprietors,
partnerships,
clubs and
associations, incorporated businesses
and publicly quoted companies.
Global banking and markets
This customer group provides tailored financial services to
corporate and
institutional customers. Business
lines comprise Global Banking, Global Markets, Global Asset
Management, Global Research and Principal Investments.
This division was previously known as Corporate, Investment Banking
and Markets.
Private banking
HSBC Private Bank is the marketing name for the private banking
business conducted by the principal private banking subsidiaries of
the HSBC Group worldwide. HSBC Private Bank, together with the
private banking activities of
HSBC
Trinkaus, known collectively as Group Private Banking, provides
services to high net worth individuals and their families through
93 locations in some 42 countries and territories in Europe, the
Asia-Pacific region, the Americas, the Middle East and Africa. As
of December 2007, profits before tax were US$1,511 million and
combined client assets under management were US$494 billion.
In September 2008, HSBC announced that it would combine its two
Swiss private banks under one brand name in 2009, with HSBC
Guyerzeller and HSBC Private Bank to be merged into one
legal entity, under the newly appointed CEO of
HSBC Private Bank, Alexandre Zeller.
See also
Notes
- "Group Structure" HSBC website
- "Special Report - The Global 2000,"
Forbes, April 2, 2008.
- "HSBC tops Forbes 2000 list of world's largest
companies," HSBC website, 4 April 2008
- [1]HSBC Shanghais CEO To Hong Kong, March
2008
- Vidya Ram, "HSBC Gets Back In Touch With Its
Roots" Forbes, 03.10.08
- HSBC, "HSBC Fact Sheet" HSBC, March
2008
- HSBC buys Bamerindus, Brazil Bank, for
$1bn
- UK Business Park: HSBC
- Bank group to buy Republic New York
- HSBC leads the way into euro zone with £6.6bn
french bank takeover
- HSBC buys insolvent Turkish bank
- HSBC buys Mexico's biggest retail bank
- HSBC HQ, Canary Wharf
- HSBC gets approval to buy Polish Bank
- Istanbul rocked by double bombing
- HSBC buys stake in Chinese Bank
- M&S faces OFT inquiry into HSBC deal
- HSBC buys US credit card issuer Metris for
$1.59bn
- HSBC closes in on Iraqi Bank
- HSBC acquires Banca Nazionale del Lavoro SA from
BNP Paribas SA
- Taiwan gives HSBC £750m to take on Chinese
Bank
- HSBC Buys 73.21 percent Stake in IL&FS
- HSBC pays £9bn for credit card group
- "Sir John Bond lays bare HSBC’s strategy for
gaining ground"
- HSBC hates subprime, FT Alphaville
- HSBC bank closes its operations in the
U.S.
- Jon Menon, HSBC Rues Household Deal, Halts U.S. Subprime
Lending, Bloomberg L.P. 2 March 2009.
- Neil Hume, Quote du jour - Stephen Green,
FT
Alphaville, 2 March 2009: "HSBC has a reputation for telling it
as it is. With the benefit of hindsight, this is an acquisition we
wish we had not undertaken."
- HSBC bank closes its operations in the
U.S..
- Jon Menon ' HSBC to Raise $17.7 Billion as Subprime Cuts
Profit', Bloomberg L.P., 2 March 2009
- Christine Seib ' HSBC quick to comply with refinancing demands',
The Times,
10 October 2009.
- Benjamin Scent HSBC seeking to build `war chest',
The
Standard, 4 March 2009.
- Benjamin Scent ' Plunge probe' The Standard, 10 March 2009.
- "Hot Brands" The Banker, March 4,
2008
- Fast Facts HSBC Website, 4 April 2008
- Parmy Olson, "Better Safe Than Sorry"
Forbes, 04.21.08
- "HSBC loses disk with policy details of 370,000
customers", The Guardian, April 8, 2008
- "The Global 2000" Forbes, April 2,
2008
- The world's biggest banks | Economist.com
- Online Banking
- Presentation by Paul Thurston (CEO HSBC Mexico) and
Victor Jimenez (CFO HSBC Mexico), on 13 March 2008 at the Latin
America Investor Roadshow
- HSBC buys Bank of Bermuda for $1.3bn
- HSBC buys Panama bank for $1.8bn
- Le groupe britannique Hsbc s’installe à
Alger
- BBC NEWS | Business | HSBC bank 'to offshore more
jobs'
- BBC NEWS | Business | Man held in HSBC India scam
probe
- HSBC
Private Bank/
- HSBC
Premier/
- HSBC Bank International Limited
- HSBCnet
- HSBC
USA
- HSBC
Canada
- HSBC
Taiwan
- HSBC South Korea
- HSBC and SOS Children's Villages
partnership
- Official
British & Irish Lions site
- Wimbledon
- Press Clippings, HSBC Guyerzeller website
External links
.
(as of 2008), is a full service bank, with a strong
branch network in New York
State
but also operating nationwide. HSBC Finance
Corporation focuses on selected lines of consumer lending with a
branch network across the US.
to 1949. HSBC has branches located in St. Georges Bay, Dora
, Ras Beirut, Verdun and Zouk.
HSBC is represented by The Saudi British Bank, which is a
40% owned affiliate. HSBC is also a joint venture partner in
HSBC Saudi Arabia Limited,
the Kingdom’s first full service independent investment bank.
represents a key part of HSBC Bank Middle East's
business, with 16 branches and the firm's head office located
here.
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