International Human Resource Management Project

On

Date: 15th October 2016

Table of Contents
1.

Introduction.........................................................................................................................1
Values.....................................................................................................................................1
Objective.................................................................................................................................2
Purpose...................................................................................................................................2

2.

Company Profile of HSBC Bank........................................................................................3

3.

Internationalization Strategies at HSBC.............................................................................4

4.

Head Quarter and Subsidiary Relationship.........................................................................6

Subsidiaries................................................................................................................................7
Principal subsidiaries..............................................................................................................7
Asia Pacific.............................................................................................................................7
Europe.....................................................................................................................................7
United States of America........................................................................................................8
Middle East and North Africa.................................................................................................8
5.

HSBCs Indian Presence.....................................................................................................9

HSBC Group members in India................................................................................................9
Businesses..............................................................................................................................10
Other entities..........................................................................................................................11

6.

Human Resource Management at HSBC in the International Context............................12

Recruitment and Selection....................................................................................................12
Training and Development...................................................................................................12
International Talent Retention..............................................................................................12

7.

Human Resource Management at HSBC in the Indian Context.......................................14

Human Resource Management Models................................................................................14
Human Resource Planning and Development Method........................................................14

8.

HSBCs Glocalization Strategy........................................................................................17

9.

Special Issue about HSBC................................................................................................19

10.

Annexures.....................................................................................................................20

11.

References.....................................................................................................................22

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1. Introduction
HSBC was born from a simple idea a local bank that serves international needs. In March
1865, HSBC unfurled its doors for business in Hong Kong, and today they serve around 46
million customers in 71 countries as well as territories.
The experiences of the former 150 years have formed the character of HSBC that is possesses
today. A glance at its history describes why they believe in capital strength, in strict cost
control and in building strong long-term relationships with customers. HSBC has survived
change in all forms revolutions, economic crises, new technologies and has adapted to
survive. The ensuing corporate character enables HSBC to now meet the challenges of the
21st century.
Values
HSBCs values describe who they are as an organization and what makes it one of a kind. It
believes in acting with courageous integrity. They are:
Dependable

Standing firm for what is right, delivering on commitments, being resilient and

trustworthy
Taking personal accountability, being decisive, using judgment and common sense,
empowering others

Open to different ideas and cultures

Communicating openly, honestly and transparently, welcoming challenge, learning

from mistakes
Listening, treating people fairly, being inclusive, valuing different perspectives

Connected to customers, communities, regulators and each other

Building connections, being aware of external issues, collaborating across boundaries

Caring about individuals and their progress, showing respect, being supportive and
responsive

(Source: http://www.hsbc.com/about-hsbc/our-strategy)
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Objective
HSBCs objective is to be the worlds leading and most respected international bank
Purpose
HSBCs purpose is to be where the growth is, connecting customers to opportunities. They
enable businesses to thrive and economies to prosper, helping people fulfil their hopes and
dreams and realise their ambitions.
HSBC has developed a long-term strategy that reflects its purpose and unique advantages:

A network of businesses connecting the world: HSBC is well positioned to capture

international trade and capital flows. Our global reach and range of services place us
in a strong position to serve clients as they grow from small enterprises into large

multinationals
Wealth management and retail with local scale: we aim to make the most of
opportunities arising from social mobility, wealth creation and long-term demographic
changes in our priority growth markets. We will invest in full-scale retail businesses
in markets where we can achieve profitable scale
(Source: http://www.hsbc.com/about-hsbc/our-strategy)

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2. Company Profile of HSBC Bank

HSBC Holdings plc is a British-based international banking and financial services company
headquartered in London, United Kingdom. It is known as world's fourth largest bank by total
assets, amounts US $2.67Atrillion. HSBC was started by Scotsman Sir Thomas Sutherland in
the British colony of Hong Kong on 3 March 1865, and then after in Shanghai a month later,
promoting from the start of trading into China, including opium trading. HSBC bank was
formally came in to force as "The Hong Kong and Shanghai Banking Corporation" by an
Ordinance of the Legislative Council of Hong Kong on 14 August 1866. In 1980, HSBC
bought a 51% shareholding in US-based Marine Midland Bank, by 1987 they got the full
sake in the company. On 6 October 1989, it was renamed by the Legislative Council, by the
amendment to its leading regulation formerly made in 1929, "The Hong Kong and Shanghai
Banking Corporation Limited", and developed as a regulated bank with the then Banking
Commissioner of the Government of Hong Kong.
HSBC was established to finance trade between China and Europe in 1863 and was born with
the simple idea- a local bank serving international needs. Today they serve around 46 million
customers in around 71 countries and territories after it opened its doors for business in Hong
Kong in the year 1865. Today it enables economies to prosper and businesses to thrive and
help people fulfil their dreams. Their business include Commercial Banking, Global Banking
and markets, global private banking, Retail banking and wealth management.
Commercial Banking: They reach around 2 million customers from small business to
multinationals. Global trade and receivable finance, global liquidity and cash management,
Global banking, Insurance and investments are the four fields that are included.
Global Banking and markets: Provide financial services and products to governments,
corporates and institutions. Resource and energy group, financial institutes group, corporate
sector group are included.
Global private banking: Help high-net-worth individuals and families to grow.
Retail banking and wealth management: Help millions of customers in day to day finances
and save for future. Shares in HSBC Holdings plc are held in 133 countries by around
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213000 shareholders and listed in London, Hong Kong, Paris, New York, and Bermuda stock
exchanges.
(http://www.hsbc.com/about-hsbc/company-history.htm, n.d.)

3. Internationalization Strategies at HSBC

It is the only bank not disclosing information for the home country, instead reporting Europe
as home region. HSBC began its internationalization strategy as a Hong Kong based bank
with close ties to the United Kingdom. In 1991, the bank moved its headquarters to the
United Kingdom by acquiring Midland Bank and by expanding in several countries. By
buying banking activities in Brazil and in the United States in the 1990s, its worldwide
presence was enhanced as a diversified large banking organisation
19801992:
China began to open up for foreign business in the late 1970s and into the 1980s. Since China
lacked financial infrastructure until the 1980s the bank bought operations in the United States
(notably Marine Midland) and Canada, initially to capitalize on business between China and
the United States and Canada, much of which was transacted through Hong Kong.
Uncertainty about its return to China led HSBC to gain a major foothold in the United
Kingdom which was located in Hong Kong. To reduce its independence on Hong Kong, it
took an equity stake in Midland In 1987. Midland Bank was purchased in 1992 and as part
of the agreement to buy Midland in 1993 HSBC formed HSBC holdings, transferring its
headquarters from Hong Kong to London.
Realized internationalization strategies 1993:
The strategy of HSBC in the mid-1990s has been to build the worlds biggest financial
services group, presenting itself as a contender of Citigroup. HSBC took a different approach
to investment banking than competitors like J.P. Morgan, and Deutsche Bank, building a far
more modest investment banking unit, emulating Barclays Capital Market activities. HSBC
began to expand further in Asia, expanding in Malaysia and China. It expanded in South
America, buying banks in Argentina, Brazil, Mexico and Peru in 1997 it. In 1999 it bought a
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controlling stake in South Koreas government-owned Seoul bank. It also bought Republic
New York and Safra Republic Holdings, doubling HSBCs private banking business and
adding 426 branches in New York State. In 2000, HSBC bought Credit Commercial de
France for 11 billion euros, adding 1 million French customers and completing Europes
largest ever cross-border banking acquisition. Also in 2000, HSBC formed a USD 1 billion
US dollar joint venture with US securities firm Merrill Lynch to offer online brokerage
services to wealthy clients. The bank further increased its foothold in the United States with
the acquisition in 2002 of Household, the consumer finance group, for about 15 billion US
dollar HSBCs largest purchase until then. Further acquisitions were eyed, especially in
China and South East Asia, the traditional stronghold of HSBC. Early 2005, the bank
expanded its global branding strategy by renaming French CCF.
Established banks such as HSBC have found a durable balance in the 1980s and 1990s
between foreign and domestic bank activities. Established banks have to maintain the right
configuration to keep internationalization a relative profitable activity, or the bank might
divest activities that do not contribute to the total profitability of the bank.
Another strategy that HSBC undertook in order to communicate with its employees around
the globe is, HSBC communicating complex changes and a 'People Transformation' strategy
to over 350,000 employees worldwide. This has been done in collaboration with Greentarget
Strategic Communications. HSBCs and its partners objectives were:

To explain complex HR changes to almost 350,000 employees worldwide

To explain to the employees their role in driving change
To explain the people management and HR functions needed to those heading
changes

The outcome achieved were as follows:

HSBCs HR integration has been a great success worldwide

The People Strategy has now been successfully adopted throughout the organization.

(http://www.gbm.hsbc.com/insights/growth/rmb-internationalisation, 2015)

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4. Head Quarter and Subsidiary Relationship

The HSBC Holdings plc , actually incorporated in England and Wales, in United Kingdom, as
"Vernat Trading Company Limited" on 1 st January 1959 and then they changed the name as
"Vernat Eastern Agencies Limited" later in the same year, was by the non-trading, dormant
shelf company under a different and nominal name, when it finished its conversion on 25
March 1991 into the parent holding company to the Hong Kong and Shanghai Banking
Corporation Limited now as a subsidiary, in the groundwork for its purchase of the UK-based
Midland Bank and they were added the transfer of dominion of Hong Kong to China. HSBC
Holdings' purchase of Midland Bank was finished in 1992 and it has given HSBC a
considerable market presence in the United Kingdom. As part of the purchase conditions for
the acquirement, HSBC Holdings plc was required to relocate its world headquarters from
Hong Kong to London in 1993. The major acquisition in South America started with the
acquisition of the Banco Bamerindus of Brazil for $1bn in March 1997 and the purchase of
Roberts SA de Inversions of Argentina for $600m in Maya1997. HSBC intentionally
increased its presence in the United States with the purchase of Republic National Bank of
New York for $10.3bn in May 1999.they were established in its current form in London in
1991, by The HSBCL (Hong Kong and Shanghai Banking Corporation Limited) to perform
as a fresh group holding company. The roots of the bank mostly lied in Hong Kong and to a
slighter extent in Shanghai, whereas the branches were first started in 1865. The HSBC name
is came from the initials of the Hong Kong and Shanghai Banking Corporation. The company
was formally incorporated in 1866. Then it continues to see both the United Kingdom and the
Hong Kong as the "home markets". They are having more than 6,000 offices in 71 countries
and territories across Africa, Asia, Oceania, Europe, North American South America, and
about 60 million customers. It has recently came back into disrepute due to its connection in
washing money for Mexican cartels. The families involved in the crimes by the organized
crime groups have sued HSBC for its participation with processing funds for the Sinaloa
Cartel. Arthur Andersen proclaimed that HSBC USA, Inc., over a new subsidiary, Wealth and
Tax Advisory Services USA Incorporation in July 2002. Then in August 2002 HSBC
purchased Grupo Financiero Bital, SA de CV, Mexico's third major retail bank for $1.1bn. In
November 2002, HSBC extended further in the United States. It had spent 9 billion
(US$15.5 billion) to purchase Household Finance Corporation (HFC), a US credit card issuer
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and subprime lender, under the chairmanship of Sir John Bond. On 11 th of December 2012,
HSBC decided to pay a record $1.92 billion as a penalty in this money laundering case.
Bearing all the above in mind, we realise that the HSBC Head Quarters maintains a
supervisory and coordinating relationship with all its subsidiaries. Below are the mentioned
subsidiaries divided based on region. The Justice Department said that, the Banks
administrators and officers frequently overlook internal cautions and warnings that HSBC's
monitoring systems are insufficient. According to the composite measure by Forbes magazine
of 2014, it was the sixth-largest public company in the world. The HSBC bank has a dual
primary listing on the Hong Kong Stock Exchange and London Stock Exchange and is an
essential of the Hang Seng Index and the FTSE 100 Index.
(Source: https://en.wikipedia.org/wiki/HSBC
https://www.hsbc.co.in/1/2/homepage)

Subsidiaries
Principal subsidiaries
1. The HSBC building in Manila, Philippines
2. HSBC Group Service Center, Sri Lanka

Asia Pacific
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o

HSBC Bank Armeni

HSBC Bank Australia Limite
HSBC Bank Indi
The Hong Kong and Shanghai Banking Corporation Lt
Hang Seng Bank Lt
HSBC Bank (China) Company Lt
HSBC Bank Malaysia Berha
HSBC Japan
HSBC Kore
HSBC Bank Indonesia
HSBC Bangladesh
HSBC Bank Philippine
HSBC Sri Lank
HSBC Singapore
HSBC Taiwan
HSBC Thailand

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HSBC Bank Vietnam

Europe
o
o
o
o
o
o
o

HSBC Mongoli
HSBC Franc
HSBC Trinkaus und Burkhardt AG
HSBC Bank Malta plc
HSBC Bank A..
HSBC Private Bank (UK) Ltd
HSBC Bank plc

United States of America

o
o
o
o
o

HSBC Bank USA Incorporation

HSBC Finance Corporation
HSBC Bank Canada
HSBC Bank Bermuda
HSBC Mexico

Middle East and North Africa

HSBC has maintained its presence in Beirut, Lebanon ever since 1946, thus the first in the Middle
East
o
o
o

HSBC Bank Middle East Ltd

HSBC Bank Egypt SAE
The Saudi British Bank

(Source: https://en.wikipedia.org/wiki/HSBC_Bank)

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5. HSBCs Indian Presence

HSBCs origins in India was from 1853 when the Mercantile Bank of India was established
in Mumbai. The bank has grown at a greater pace and offers products and services to
commercial banking clients, corporate and retail customers.
The Mercantile Bank of, London China and India was founded in Mumbai. Around 1855, the
Bank had opened offices in, Shanghai, Colombo, Chennai, London Kandy, Calcutta,
Guangzhou, Singapore, Hong Kong, and Kolkata. It moved into its new head office building
at Flora Fountain in Mumbai in the year 1950.
The Mercantile Bank was bought in the year 1959 by Hong Kong and Shanghai Banking
Corporation Limited. It was founded in 1865 to serve the needs of the merchants of the
finance the growing trade between China, Europe and the US and China coast.
(Source: http://www.about.hsbc.co.in/hsbc-in-india)

HSBC Group members in India:

The Hong-Kong and Shanghai Banking Corporation Limited

HSBC Asset Management (India) Private Limited

HSBC Electronic Data Processing (India) Private Limited

HSBC Professional Services (India) Private Limited

HSBC Securities and Capital Markets (India) Private Limited

HSBC Software Development (India) Private Limited

HSBC Invest-Direct (India) Limited

HSBC Invest-Direct Securities (India) Private Limited (formerly known as HSBC

Invest-Direct Securities (India) Limited)

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HSBC Invest-Direct Financial Service (India) Limited (formerly known as

Investsmart Financial Services Limited) HSBC Invest-Direct Sales & Marketing (India)
Limited

HSBC Agency (India) Private Limited

HSBC Global Shared Services (India) Private Limited

Businesses:
HSBC serves its Indian customers through their four global businesses:

Retail Banking and Wealth Management: The Bank offers a broad range of
products and services to all the resident and non-resident Indian customers based in
various countries.

Commercial Banking: It provides services to business and corporate clients. Their

services include, payments and cash management solutions, business accounts, a range of
borrowing solutions and trade services

Global Private Banking: It offers a range of products and services including

advisory services for high net worth clients and their families and wealth management
products.

Global Banking and Markets: Financial products and services for corporate and
institutional clients is provided by Global Banking and Markets business. This includes
foreign exchange, transaction banking, fixed income and derivatives treasury services,
investment banking, advisory and capital markets.

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Other entities:

Global Asset Management: HSBC Asset Management (India) Private Limited,

investment manager to HSBC Mutual Fund, offers a variable product range to individual
and institutional investors including fixed income/pension mandates for substantial
institutional clients.

Global Service Delivery: Global Service Delivery in India has more than 20,000
employees and operates out of 11 Group Service Centers (GSCs). There are three centers
each in Bangalore and Hyderabad; while Kolkata, Gurgaon, Chennai, Mumbai, and Vizag
have one center each.

HSBC Securities and Capital Markets (India) Private Limited: HSBC Securities
and Capital Markets (India) Private Limited offers services in Investment Banking (IB),
Project and Export Finance, Equities research and broking. The IB business includes
mergers and acquisition advisory services and equity and debt origination. Project and
Export Finance services are provided to large corporates, governments, and top-tier banks.
Equities research and broking primarily cater to the institutional client base which includes
local institutions, foreign institutional investors, mutual funds, insurance companies, and
select high net worth and corporate clients.

Global Software Development: HSBC Global Software Delivery in India (registered

entity - HSBC Software Development (India) Private Limited (HSDI)) is spread out across
five locations in Hyderabad and Pune. It supports the Groups IT requirements worldwide
through development, maintenance and diverse banking applications.

Audit Services: HSBC Professional Services (India) Private Limited (HPSI)

dispenses internal audit services to global functions and global businesses across the
HSBC Group and is also associated with regional audit work in Asia-Pacific.

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HSBC Invest-Direct: HSBC Invest-Direct (India) Limited (HIDL) through its

subsidiary HSBC Invest-Direct Financial Services Limited (HIFSL) offers lending to high
net worth individuals and corporate customers.

Canara HSBC Oriental Bank of Commerce Life Insurance Company

Limited: This is a joint venture between Canara Bank, Oriental Bank of Commerce and
HSBC Insurance (Asia Pacific) Holdings Limited.

(Source: http://www.about.hsbc.co.in/hsbc-in-india)

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6. Human Resource Management at HSBC in the International Context

HSBC has around 6,000 offices in 71 countries and territories across Africa, Asia, Oceania,
Europe, North America and South America, and around 60 million customers. Though
organizations set aside great sum of money to manage and retain talent, several companies
struggle to fill their key positions and also puts a considerable constraint on their growth.
It is worth a mention that the human resource management system adopted by HSBC has
brought HSBC to what it is today. HSBC has adopted several strategies not only for talent
management but also for its long term sustainability. With current employee strength standing
at, HSBC appoints people of all diversities. This way the bank tries to maintain a balanced
employment status. It provides foremost importance to its employees and certain rights of the
employees are preserved irrespective of the geography.
Recruitment and Selection
When HSBC was expanding its business in the East Asian market, the bank faced deficient
talent from local labor. (ukessays, n.d.)At that point in time, HSBC had to adopt ethnocentric
approach in their recruitment procedures wherein they appointed employees from the home
country. As a solution to the local labor problem, HSBC used International Talent
Management process as a means to attract, retain and motivate people. The recruitment
procedure of HSBC varies across different countries they operate in, which helps the
organization to meet the cultural differences also offers a chance to gain high level of
employee commitment. (ukessays, n.d.)
Training and Development
HSBC organizes a regional training program for its employees. The autonomy of training is
given to each country and its HR team who will be responsible for implementing training
programs and schedules in the local offices. HSBC tries to increase individual employees
competence by providing necessary training.
HSBC follows a Resident Management Trainee Program (RMT Program) which selects a
group of potential executive trainees and provides appropriate training to them. This program

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gives the executives systematic training to move ahead in their respective careers.
(Slideshare.net, 2014)
International Talent Retention
For the success of an organization there needs to be a person-job fit that is linking the
business processes to companys objectives thereby driving performance and creating a
conducive work environment. In 2002, HSBC changed its strategy from growth through
mergers and acquisitions to organic growth (Conger, 2008). The main objective was to
empower local resource across the geography to cater to increasing international customers.
This required a cultural shift as HSBC had always operated as a confederation of independent
business. To achieve this objective, the bank committed itself to a new brand promise that is
to be the worlds local bank. This change was brought about to make available a local
resource for customers at their place of business (Conger, 2008).
Policies and Practices
HSBC also centrally designed its human resources practices and policies with some
flexibility to accommodate local variations. The bank has a companywide processes for
assessment, leadership development, recruiting, career management but with an option to
adapt them to the local business. The bank makes it known to its employees that if they want
to reach a higher level in the management they must work in at least two different cultural
environments (Conger, 2008). The bank modified its feedback process in the lower levels in
terms of support and development needs. The bank operates as a network organization
wherein managers know their counterparts in other parts of the world thereby making it
possible to share vital information on a regular basis. The company is building a global talent
supply chain management process that is coordinated worldwide but is executed locally
(Conger, 2008).
Performance Appraisal
Appraisals are carried out based on the following factors:

Knowledge of work
Accuracy and Reliability
Speed
General intelligence

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Sense of responsibility and Duty

Diligence
Initiative and Self-Confidence
Readiness to work for and with others

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7. Human Resource Management at HSBC in the Indian Context

HSBCs history in India goes back to more than 150 years. Now, it employs more than
30,000 people in the country and provides an entire range of banking and financial services to
more than a million customers.
HSBCs Human Resource policies and methods followed in India are mentioned bellow:

Human Resource Management Models

Two models of HRM at HSBC, India are defined as Hard and Soft model. Hard model insists
on meeting the requirement with work force. The Soft model is considered to be more
employee oriented and gives room to the employees to grow within the organization. HSBC
bank, India implements both models of HRM and they vary with the situation at hand.
Hard Model
The Hard model also referred as matching model or best fit approach is the method of
extracting the maximum potential from an employee for the benefit of the organization. Here,
employees are considered as a tool for the company to achieve its goals and objectives.
However, HSBC bank does not use the hard model often.
Soft Model
The Soft model gives utmost consideration to every employee and tries to develop the skills
of the employee for the betterment of the organization. Here, employees are motivated to
achieve the goals of the organization. Soft model is very relevant in industries that require
more of innovative and creative initiatives to be undertaken. HSBC mainly follows this
model of HRM as it considers its employees and preserves their rights. This model readily
allows employees to make them grow with the company which in turn, elevates the
productivity of the organization. (ukessays, n.d.)
Human Resource Planning and Development Method
Human resource planning and development is always important for effective running of an
organization. Forecasting of the human resource department, always plays a major role in
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planning and development. The different planning and development methods of HRM at
HSBC, India are stated below:

Workforce planning
Training and Development
Recruiting Long Term Employees

(ukessays, n.d.)
Making Specification criteria
HSBC, evaluates the performance of its employees not only by the goals achieved, but by
understanding what the employee is really capable of. The company measures its employees
in all aspects. This is employee specific and HSBC, India does its best to try and develop the
skills and knowledge of what an employee is good at. By doing so HSBC successfully gains
specialist workers for each of its department. (Slideshare.net, 2014)

Employee organization making the oriented

HSBC trains its employees, not only to attain individual goals but also to reach organization
goals. By such an implementation, HSBC has tied their employees to the company to review
targets of company in the future.
(ukessays, n.d.)
Volunteering by employees
HSBC sees volunteering as a crucial driver to employee engagement and an important
contribution to the community. Employees regularly participate in several community and
outreach projects pan India.
(http://www.gbm.hsbc.com/insights/growth/rmb-internationalisation, 2015)
In 2006, HSBC in a news article mentioned that, out of 28 million affected with HIV/AIDS
all over the world, 5.7 million are in India and 60% of them dont know they have AIDS. On
1st December 2006, HSBC in India along with its Human Resource Department launched its
HIV/AIDS Policy for employees and an HIV/AIDS awareness programme called, Awaken.
Awaken aims to enable employees to become more aware of HIV/AIDS and the issues
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surrounding the disease, effectively understand the HSBC HIV/AIDS employee policy and
facilitate reduction of the prevailing societal stigma and exclusion associated with the
disease. The groups global HIV/ AIDS policy was released in December 2007, and was
based on HSBCs policy in India.

8. HSBCs Glocalization Strategy

If we are an international traveller, we would probably noticed HSBCs advertising in jet
bridges, or in baggage claim areas and almost everywhere else in over 45 airports around the
world. Which makes this global campaign a truly distinctive and a brilliant implementation of
a glocalized strategysay as keeping a consistent execution across multiple countries and
even maintaining a local flavor in its message at each airport is a great strategy
For example : Images of Macchu Picchu in Peru, soccer in Spain, renaissance sculptures in
Italy, beauty queens in Venezuela, French delicacies in Paris, chili peppers in Mexico, and
Mehndi art in India which welcome travelers from in and around the world, with an colorful
take and mind on local culture and its values.
(RENTERIA, BrandLeadership, 2010)
Though the company is headquartered in the UK, it has a strong Asian heritage and thereby in
the past several years it has taken up a great strategy step of global retail and wealth
management. Branding which plays a very important role here: HSBC constantly continues
to unify how it presents its brand across the markets along maintaining a message of the local
specialization and their specific cultural understanding. This is likely to be continue as part of
the banks strategy to reinforce its business in the emerging markets.
HSBC has showed immense strength when the other brands in the banking arena across the
globe were facing a real trouble in keeping up their image during the global meltdown which
happened in 2008. And they believe in their slogan which says, The worlds local bank,
which played a very critical and important role in the same. HSBCs global expertise along
with its local relevance finds the expression in that small tagline.
The driving focus of HSBCs communications is that it is backed by the strong consumer
insight at a large, the global bank is intimidating for most of the consumers, who associate the
footprint and size of the bank with the negative experience and condescending treatment.
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The banks conceptual response to these insight is the classic example of the glocalizing
strategy or say a concept that even many of consumer goods companies are struggle to
grasp. Through its The Worlds Local Bank advertising campaign, HSBC still strives to set
itself apart as a bank that while having of the many global connections, is still flexible
enough to care for the needs of local customers in the ways they prefer.
HSBCs executes its strategy not only through its marketing and advertising, but also by
offering a worth customer experience that lives up to the brand expectation. An example for
this is of the brand in action which was recently launched product, HSBC Premier that allows
all customers to open accounts in 37 countries and get complete assistance regardless of their
location.
Global brands that find the value is appealing to the local customers where they can learn a
lesson from this glocalized execution. HSBC started with a strong brand positioning that
cascades completely into the local markets through small tweaks in communication. It then
backed up the promise of the Worlds Local Bank with products and features that would
leverage its international footprint which matched with a familiar and great approachable
customer experience. Sounding like a great, well strategized winning formula.
Example of HSBC in India:
HSBC rolled out an Indian-themed campaign which promoted its sponsorship of an 'Indian
summer', a season of exhibitions at the great British Museum. It marks the bank's first major
marketing activity strategy since the push for its HSBC Plus current accounts which was last
November and it follows the departure of UK Marketing Director James Boulton. The digital
ads, created by the RMG Connect used images in the style of rangoli. Under the tagline it
said 'Understanding the culture is our business', the ads emphasizes that HSBC can help
customers do the business in India.
(Source:

https://brandleadership.wordpress.com/2010/11/23/executing-a-global-strategy-

locally-lessons-from-the-worlds-local-bank/)

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9. Special Issue about HSBC

Giant leap for PR with HR remit at HSBC Is PR ready for more opportunities?
Monday, February 02, 2015

Writer: J S Sai, Mumbai, India

A recent global corporate appointment indicates the growing importance of corporate

communications, and the far-reaching management structural changes the said development
could perhaps herald across the world.
According to a report by Arun Sudhaman of The Holmes Report, HSBC's Pierre Goad has
taken on leadership of the bank's human resources function, in a new role that retains
oversight of communications.
Goad has made a transition to corporation communications in 2001 post his long journalism
career with media houses like The Asian Wall Street Journal, The Wall Street Journal and
Canadian Broadcasting Corporation.
"It demonstrates how far communications has come at HSBC specifically, but more widely as
well," said Goad. "The skills and experience you gain managing an integrated
communications function are applicable and relevant in other functions. Communications has
moved past the press office era. This is an unusual move but I don't think it will be the last
it's the new modern, integrated version of communications... Employees are our most
important resource and our most important ambassadors."
Juxtaposed with the assessment and recommendations of global experts, one begins to feel
the HSBC appointment would not perhaps remain an isolated corporate development.
(India.blogspot.in, n.d.)

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10.Annexures

Figure 1: Chief Executive Committee at HSBC Bangladesh

Source: http://www.assignmentpoint.com/

Figure 2: Functional Departments at HSBC Bangladesh

Source: http://www.assignmentpoint.com/

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Figure 3: The Human Resource Department at HSBC Bangladesh

Source: http://www.assignmentpoint.com/

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11.

References

(2015). Retrieved from http://www.gbm.hsbc.com/insights/growth/rmbinternationalisation: http://www.gbm.hsbc.com/insights/growth/rmbinternationalisation

Conger, D. A. (2008). Make your company a talent factory. Retrieved from HBR:
https://hbr.org/2007/06/make-your-company-a-talent-factory
global banking and markets. (n.d.). Retrieved from HSBC:
http://www.gbm.hsbc.com/about-us
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http://www.gbm.hsbc.com/about-us
Greentarget. (n.d.). Retrieved from www.greentarget.co.uk:
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RENTERIA, M. (2010, november 23). BrandLeadership. Retrieved from

WORDPRESS:
https://brandleadership.wordpress.com/2010/11/23/executing-a-globalstrategy-locally-lessons-from-the-worlds-local-bank/
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Slideshare.net. (2014). Retrieved from sanjailalgs:
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Wikipedia. (n.d.). Retrieved from en.wikipedia.org:
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