HSBC
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For the history of the HSBC Group prior to the founding of HSBC Holdings in 1990, see
The Hongkong and Shanghai Banking Corporation.
HSBC Holdings plc
Public (LSE: HSBA, SEHK: 005,
Type
NYSE: HBC, Euronext: HSB, BSX:
1077223879)
Founded
Hong Kong (1865)
Founder(s)
Thomas Sutherland
Headquarters 8 Canada Square, London, England, UK
Stephen Green, Group Chairman
Key people
Michael Geoghegan, Group Chief
Executive
Industry
Finance and insurance
Revenue
£49,759 million (2008)
Operating
income
Net income
Employees
£5,072 million (2008)
£3,541 million (2008)
312,000 (9,500 offices in 85 countries and
territories)
HSBC Bank plc, The Hongkong and
Shanghai Banking Corporation, HSBC
Subsidiaries
Bank USA, HSBC Bank Middle East,
HSBC Mexico, HSBC Bank Brasil, HSBC
Finance
Website
www.hsbc.com
HSBC Holdings plc is a public limited company incorporated in England and Wales in
1990, and headquartered in London since 1993.[1] 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.[2][3] The group was founded from The Hongkong and
Shanghai Banking Corporation based in Hong Kong, the acronym of which led to the
current name. 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.[4] 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.[5]
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.
Contents
[hide]
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1 History
o 1.1 Development of the Bank
o 1.2 Role in subprime crisis
2 Operations
o 2.1 Corporate profile
o 2.2 Americas
o 2.3 Asia Pacific
o 2.4 Europe
o 2.5 Middle East and Africa
3 Global product lines and programmes
o 3.1 Group Service Centres
o 3.2 HSBC Premier
o 3.3 HSBC Bank International
o 3.4 HSBCnet
o 3.5 HSBC Direct
4 Brand and advertising
o 4.1 Hexagon symbol
o 4.2 Sponsorship
5 Customer groups
o 5.1 Personal financial services
o 5.2 Commercial banking
o 5.3 Global banking and markets
o 5.4 Private banking
6 See also
7 References
8 External links
[edit] History
[edit] Development of the Bank
HSBC Main Building, located in Hong Kong.
HSBC World Headquarters at 8 Canada Square in London, from the western end of West
India Quay
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. HSBC then moved the headquarters of HSBC Holdings from 1 Queens Road
Central, Hong Kong to 10 Lower Thames Street, London in 1993.[6]
Major acquisitions in South America started with the purchase of Banco Bamerindus of
Brazil for $1bn in March 1997[7] and the acquisition of Roberts SA de Inversiones of
Argentina for $600m in May 1997.[8]
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.[9]
Expansion into Continental Europe took place in April 2000 with the acquisition of
Crédit Commercial de France, a large French bank for £6.6bn.[10]
In July 2001 HSBC bought Demirbank, an insolvent Turkish bank.[11] Then in August
2002 HSBC acquired Grupo Financiero Bital, SA de CV, Mexico's largest retail bank for
$1.1bn.[12]
The new headquarters of HSBC Holdings at 8 Canada Square, London officially opened
in April 2003.[13]
Then in September 2003 HSBC bought Polski Kredyt Bank SA of Poland for $7.8m.[14]
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.[15]
In June 2004 HSBC expanded into China buying 19.9% of the Bank of Communications
of Shanghai.[16]
In the United Kingdom HSBC acquired Marks & Spencer Retail Financial Services
Holdings Ltd for £763m in December 2004.[17]
Acquisitions in 2005 included Metris Inc, a US credit card issuer for $1.6bn in August[18]
and 70.1% of Dar Es Salaam Investment Bank of Iraq in October.[19]
In April 2006 HSBC bought the 90 branches in Argentina of Banca Nazionale del Lavoro
for $155m.[20]
In December 2007 HSBC acquired The Chinese Bank in Taiwan.[21]
In May 2008 HSBC acquired IL&FS Investment, an Indian retail broking firm.[22]
[edit] Role in subprime crisis
In November 2002 HSBC expanded in the United States, spending £9bn (US$15.5bn) to
acquire Household Finance Corporation (HFC), a US credit card issuer and subprime
lender.[23] 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".[24] Under
the new name of HSBC Finance, the division was the second largest subprime lender in
the US.[25]
The business indeed turned sour, costing HSBC some US$62bn[citation needed]. 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.[26][27]
Chairman Stephen Green admitted that "with the benefit of hindsight, this is an
acquisition we wish we had not undertaken."[28]; analyst Colin Morton said, "the takeover
was an absolute disaster". [27][29]
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."[30] 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.[31]
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.[32] 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.[33]
[edit] Operations
[edit] Corporate profile
In February 2008, HSBC was named the world's most valuable banking brand by The
Banker magazine.[34][35] 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.[36] 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.[37]
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).[38]
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 the largest banking group in the world by Tier 1 capital.[39]
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 9,500 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."[40] 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.[41] For details of
other group companies see Category:HSBC.
[edit] 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. [42]

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.
Palacio Avenida: The headquarters of HSBC Bank Brasil, located in Curitiba.

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[citation needed]. 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 (Costa Rica) 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 El Salvador, SA is the third largest banking and financial service firm
in the country.

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 four largest banking and financial
service companies, with 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.[43]

HSBC established HSBC Paraguay SA when it acquired Lloyds TSB Bank
Paraguay in 2007. Lloyds TSB had been in Paraguay since 1920 when the Bank
of London and the River Plate established a branch in Asunción.

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.

HSBC Bank USA NA and HSBC Finance Corporation represent the
group’s business in the US, which has been built up via the acquisition of Marine
Midland (1980), Republic National Bank (1999), Household International (2003)
and Metris Companies (2005) Solstice Capital Group (2006), among others.
HSBC Bank USA, headquartered in Wilmington, Delaware (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.
[edit] Asia Pacific
The HSBC Global Technology Centre in Pune, India develops software for the entire
HSBC group[44].
HSBC in Kolkata.

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 (China) 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.

In 1959 HSBC acquired The Mercantile Bank of India, London and China,
established in October 1853 in Bombay. 1990. HSBC is now one of the fastest
growing foreign banks in India, both in domestic banking and support operations
for worldwide operations (see Group Service Centres).

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 had been operating since 1878, into a full
branch. HSBC twice closed its operations in Indonesia. The first time 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 locallyincorporated 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 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 (Vietnam) 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.
[edit] 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 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 (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 Midlandowned 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 OOO HSBC Bank,which is the 103rd
largest bank in the country and is an affiliate of HSBC Bank plc.
[edit] 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.[45]

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 dates its presence in Lebanon to 1949. HSBC has branches located in
St. Georges Bay, Dora, Ras Beirut, Verdun and Zouk.

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 Oulet. 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.

SABB (The Saudi British Bank) In Saudi Arabia 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.

HSBC Bank Middle East Limited The United Arab Emirates represents a
key part of HSBC Bank Middle East's business, with 16 branches and the firm's
head office located here.

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.
[edit] Global product lines and programmes
[edit] Group Service Centres
HSBC in New York.
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), Visakahpatnam (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).[46]
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.[46]
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.[47]
[edit] HSBC Premier
HSBC Premier[48] 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, or a mortgage of at least
$500,000 or £250,000. Customers have a dedicated relationship manager, global 24 hour
access to call centres and preferential rates.
[edit] HSBC Bank International
HSBC Bank International[49] 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'.
[edit] HSBCnet
HSBCnet[50] 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.
[edit] 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[51] in November 2005 and is now available
in Canada,[52] Taiwan[53] and South Korea.[54]
[edit] 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.
[edit] Hexagon symbol
This 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.
The 2004 Jaguar car, being driven by Mark Webber.
[edit] 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.[55]
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 will sponsor the British and Irish Lions on the 2009 tour of South Africa.[56]
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.[57]
[edit] Customer groups
HSBC splits its business into four distinct groups:
[edit] 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.
[edit] 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.
[edit] Global banking and markets
This customer group provides tailored financial services to corporate and institutional
clients. 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.
[edit] Private banking
Main article: HSBC Private Bank
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 AsiaPacific 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.[58]
[edit] See also
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List of banks in the United Kingdom
List of buildings and structures in Hong Kong
HSBC Buildings
Primary dealers
[edit] References
1. ^ "Group Structure" HSBC website
2. ^ "Special Report - The Global 2000," Forbes, April 2, 2008.
3. ^ "HSBC tops Forbes 2000 list of world's largest companies," HSBC website, 4
April 2008
4. ^ Vidya Ram, "HSBC Gets Back In Touch With Its Roots" Forbes, 03.10.08
5. ^ HSBC, "HSBC Fact Sheet" HSBC, March 2008
6. ^ HSBC reviews location of it Headquarters
7. ^ HSBC buys Bamerindus, Brazil Bank, for $1bn
8. ^ UK Business Park: HSBC
9. ^ Bank group to buy Republic New York
10. ^ HSBC leads the way into euro zone with £6.6bn french bank takeover
11. ^ HSBC buys insolvent Turkish bank
12. ^ HSBC buys Mexico's biggest retail bank
13. ^ HSBC HQ, Canary Wharf
14. ^ HSBC gets approval to buy Polish Bank
15. ^ Istanbul rocked by double bombing
16. ^ HSBC buys stake in Chinese Bank
17. ^ M&S faces OFT inquiry into HSBC deal
18. ^ HSBC buys US credit card issuer Metris for $1.59bn
19. ^ HSBC closes in on Iraqi Bank
20. ^ HSBC acquires Banca Nazionale del Lavoro SA from BNP Paribas SA
21. ^ Taiwan gives HSBC £750m to take on Chinese Bank
22. ^ HSBC Buys 73.21 percent Stake in IL&FS
23. ^ HSBC pays £9bn for credit card group
24. ^ "Sir John Bond lays bare HSBC’s strategy for gaining ground"
25. ^ HSBC hates subprime, FT Alphaville
26. ^ HSBC bank closes its operations in the U.S.
27. ^ a b Jon Menon, HSBC Rues Household Deal, Halts U.S. Subprime Lending,
Bloomberg 2 March 2009.
28. ^ 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."
29. ^ HSBC bank closes its operations in the U.S..
30. ^ Jon Menon 'HSBC to Raise $17.7 Billion as Subprime Cuts Profit', Bloomberg,
2 March 2009
31. ^ Christine Seib 'HSBC quick to comply with refinancing demands', The Times,
10 October 2009.
32. ^ Benjamin Scent HSBC seeking to build `war chest', The Standard, 4 March
2009.
33. ^ Benjamin Scent 'Plunge probe' The Standard, 10 March 2009.
34. ^ "Hot Brands" The Banker, March 4, 2008
35. ^ Fast Facts HSBC Website, 4 April 2008
36. ^ Parmy Olson, "Better Safe Than Sorry" Forbes, 04.21.08
37. ^ "HSBC loses disk with policy details of 370,000 customers", The Guardian,
April 8, 2008
38. ^ "The Global 2000" Forbes, April 2, 2008
39. ^ The world's biggest banks | Economist.com
40. ^ http://onlinebankpro.com/category/article-pages/offshore-banks/hsbc/
41. ^ Presentation by Paul Thurston (CEO HSBC Mexico) and Victor Jimenez (CFO
HSBC Mexico), on 13 March 2008 at the Latin America Investor Roadshow
42. ^ HSBC buys Bank of Burmuda for $1.3bn
43. ^ HSBC buys Panama bank for $1.8bn
44. ^ "HSBC GLT frontpage". http://www.hsbcglt.com/. Retrieved on 2008-08-22.
45. ^ Le groupe britannique Hsbc s’installe à Alger
46. ^ a b BBC NEWS | Business | HSBC bank 'to offshore more jobs'
47. ^ BBC NEWS | Business | Man held in HSBC India scam probe
48. ^ HSBC Premier/
49. ^ HSBC Bank International Limited
50. ^ HSBCnet
51. ^ HSBC USA
52. ^ HSBC Canada
53. ^ HSBC Taiwan
54. ^ HSBC South Korea
55. ^ HSBC and SOS Children's Villages partnership
56. ^ Official British & Irish Lions site
57. ^ Wimbledon
58. ^ Press Clippings, HSBC Guyerzeller website
[edit] External links
Wikimedia Commons has media related to: HSBC
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HSBC Group site
HSBC Private Bank
HSBC Locations
HSBC Mexico
HSBC Peru
HSBC USA
HSBC UK
Guy Sayer HSBC chairman - Daily Telegraph obituary
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