The Hongkong and Shanghai Banking Corporation

The Hongkong and Shanghai Banking Corporation Limited

Type Industry Founded Founder(s) Headquarters

Public (Non-Listed) Limited Company (Origin: Body Corporate formed by Special Ordinance)[1] Financial Services 1865 Sir Thomas Sutherland (1834-1922) 1 Queen's Road Central, Hong Kong Vincent Cheng

Key people

(Chairman) Alexander Flockhart (Chief Executive)

Products Employees Parent

Investment, commercial, retail and private banking, asset management 68,700 (includes subsidiaries) (2010) HSBC Holdings plc Main subsidiaries: Hang Seng Bank Limited, HSBC Bank (China) Company

Subsidiaries

Limited, HSBC Broking Services (Asia) Limited, HSBC Global Asset Management (Hong Kong) Limited, HSBC Insurance (Asia-Pacific) Holdings Limited, HSBC Private Equity (Asia) Limited, HSBC Securities (Asia) Limited

Website

www.hsbc.com.hk

Introduction :
The Hongkong and Shanghai Banking Corporation Limited is a prominent bank established and based in Hong Kong since 1865 when Hong Kong was a colony of the
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British Empire. It is the founding member of the HSBC Group and since 1990 is now a wholly owned subsidiary of HSBC Holdings plc. The company's business ranges from the traditional High Street roles of personal finance and commercial banking, to corporate and investment banking, private banking and global banking. It is the largest bank in Hong Kong with branches and offices throughout the Asia Pacific region including other countries around the world. HSBC is one of the oldest banking groups in the modern world. The bank is known locally simply as "The Bank", "Hongkong Bank" and "Lion Bank".

Logo
The hexagon symbol was originally adopted by The Hongkong and Shanghai Banking Corporation as its logo in 1983. It was developed from the banks house flag, a white rectangle divided diagonally to produce a red hourglass shape. Like many other Hong
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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.

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 3

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. HSBCs 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 tour to 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. HSBC was named the 'Official Banking Partner' of The Open Championship, in a five year deal

announced in 2010.

History 1.1 Foundation

After the British established Hong Kong as a colony in the aftermath of the Opium Wars, local merchants felt the need for a bank to finance the growing trade between China and Europe (with traded products including opium).They established the Hongkong and
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Shanghai Banking Corporation in Hong Kong (March 1865) and Shanghai (one month later). The founder, a Scotsman named Thomas Sutherland wanted a bank operating on "sound Scottish banking principles." Still, the original location of the bank was considered crucial and the founders chose Wardley House in Hong Kong since the construction was based on some of the best feng shui in Colonial Hong Kong.The bank initially leased its premises for HK$500 a month in 1864. After raising a capital stock of HK$5 million, the "Hongkong and Shanghai Banking Company Limited" opened its doors on 3 March 1865. It opened a branch in Shanghai during April of that year, and started issuing locally-denominated banknotes in both the Crown Colony and Shanghai soon afterwards. The bank was incorporated in Hong Kong by special dispensation from the British Treasury in 1866, and under the Hongkong and Shanghai Bank Ordinance 1866, a new branch in Japan was also established. The bank handled the first public loan in China in 1874, thereafter issuing most public loans.

1.2 Business Development

Sir Thomas Jackson became chief manager in 1876. During his twenty-six year tenure, the Bank became a leader in Asia. Notable events included being the first bank established in Thailand, in 1888, where it printed the country's first banknotes; acting as banker for the Hong Kong government from the 1880s; and participating in the management of British colonial government accounts in China, Japan, Penang and Singapore. A period of expansion followed, with new branch offices opening in Bangkok (1921), Manila (1922) and Shanghai (1923), and a new head office building in Hong Kong in 1935.
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1.3 Second World War

In anticipation of the Japanese invasion of Hong Kong in 1941, the Bank's head office moved to London. During the period 1941-1943 the chief manager Vandeleur Grayburn, and his successor David C Edmondston, both died while interned by the Japanese. Arthur Morse was appointed Chief Manager in 1943 and led the bank after the war. The head office moved back to Hong Kong in 1946. During the Japanese occupation the Bank's head office building was occupied as the headquarters of the Hong Kong Japanese military government.

1.4 International Expansion

Michael Turner became Chief Manager in 1953 and set about diversifying the business. His tenure came to an end in 1962 having established The Hong Kong and Shanghai Banking Corporation of California 1955 and having acquired The British Bank of the Middle East and the Mercantile Bank (based in India) in Aug 1959. Turner was succeeded in 1962 by Jake Saunders. In 1964 the Chief Managership was superseded as the top executive role in the bank by an Executive Chairmanship Saunders took this role until retirement in 1972 and was succeeded as Chief Manager in 1964 by H.J. Shen, the managing director of Maysun Trading Co. and the former head of the Central
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Trust of China, who became the first ethnic Chinese to be appointed to the position of Chief Manager of the bank. Under Saunders' tenure the bank continued to expand. 1965 saw the bank purchase a controlling interest in Hang Seng Bank of Hong Kong, and 1972 the formation of a merchant banking arm, Wardley Limited. In 1980, the Bank launched a hostile takeover bid for the Royal Bank of Scotland, although the bid was blocked by the British government.

1.5 The Creation of the HSBC Group

In 1980, the Bank, now under the chairmanship of Michael Sandberg acquired a 51% stake in Marine Midland Bank, of the United States of America, and continued its expansion with the establishment of Hongkong Bank of Canada in 1981 and HongkongBank of Australia Limited in 1986. 1987, under the Chairmanship of William Purves, saw the bank's ownership of Marine Midland Bank increased to 100% and the acquisition of a 14.9% share in Midland Bank in the United Kingdom.

The present building in Hong Kong was designed by Sir Norman Foster and was held as one of the most expensive and technologically advanced buildings in the world in 1986 costing HK$5.3 billion. In 1991 HSBC Holdings plc was established to act as a parent company to the group; shares are currently traded on the London, Hong Kong, Paris, New York and Bermuda stock exchanges.

Hong Kong Banking

HSBC's Hong Kong Head office

Under the HSBC brand, the bank maintains a network of around 220 branches throughout the Hong Kong SAR, from which it offers a wide range of financial products and services. For some time in the late 1980s and early 1990s, the bank was known by the name HongkongBank in its native city, although it now trades as HSBC. During that period, it also adopted the idiosyncratic practice of calling its ATMs Electronic Teller Card (ETC) machines.

Headquarters
HSBC's Hong Kong headquarters are at 1 Queen's Road Central in the Central area on Hong Kong Island. The HSBC Hong Kong headquarters building was also home to
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HSBC Holdings plc's headquarters until the latter firm's move to 8 Canada Square, London to meet the requirements of the UK regulatory authorities after the acquisition of the Midland Bank in 1992. It was designed by British architect Lord Norman Foster, and was the most expensive building in the world based on usable floor area at the time it was built.

Hong Kong Dollar Bank Notes

HSBC is one of the three commercial banks which are authorised to issue banknotes for Hong Kong - the other two being the Bank of China (Hong Kong) and Standard Chartered Bank (Hong Kong). Of the total notes in circulation measured by value, HSBC is the most prolific issuer, its notes representing 67.7% of those in issue. Hong Kong is unusual in that it is one of the few countries or territories where commercial banks are still permitted to issue their own banknotes.

Other Hong Kong operations Hang Seng Bank

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Main article: Hang Seng Bank HSBC acquired a 62.14%, controlling interest in the local Hang Seng Bank in 1965 during a crisis of the latter. The Hang Seng Index for stock prices in Hong Kong is named after the Hang Seng Bank.

Asia Pacific operations

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The Hongkong and Shanghai Banking Corporation maintains a network of around 600 offices in 20 countries in Asia Pacific, as well as owning of a number of HSBC banks operating in various countries and holding the group's stakes in further lenders, particularly in mainland China. Operations of the group in the Asia Pacific are under this subsidiary, and it forms the regional headquarters for Asia Pacific. This means that it is responsible for entities such as HSBC Bank Australia Limited, Hang Seng Bank Limited, HSBC Bank (China) Company Limited, HSBC Bank Malaysia Berhad (since 2009), HSBC Bank (Vietnam) Limited, HSBC Bank (Taiwan) Limited and HSBC Insurance (Asia-Pacific) Holdings Limited, and the management of stakes in Bank of Communications (19.9%), Barrowgate Limited (24.64%) and Industrial Bank. But excluding the majority of the HSBCs Private Banking business in Asia Pacific.

Bangladesh
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HSBC started operations in 1996. The bank primarily focuses on urban areas have branches in most areas of the capital city of Dhaka, it also has branches in the cities of Chittagong and Sylhet. The bank also has a good number of ATM booths in the cities present, it also has booths in most five star hotels. HSBC Bangladesh is rated AAA in the Long-term and ST-1 rating in the Short-term, which are the highest level of ratings for any bank or financial institution in Bangladesh. HSBC Bangladesh offers a comprehensive range of financial services such as commercial banking, consumer banking, payments and cash management, trade services, treasury, and custody and clearing. The bank also offers offshore banking in the Export Processing Zones, this is only limited to investors in the EPZs. A special service called NRB Services is also available for non resident Bangladeshis, this service allows consumers to maintain accounts in US Dollars, Pound Sterling and Euros. People using this service can freely remit money from Bangladesh to any part of the world and can access their money from any HSBC booth around the world. HSBC Bangladesh has a help center which operates on a daily basics. It is one of the very few banks in the country to offer day night banking. HSBC's global Islamic banking system called Amanah is available in Bangladesh. can also avail debit and credit cards.
]

There is a special branch dedicated just for this service. Under this service customers

China
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HSBC logo Main article: HSBC Bank (China)

HSBC established its Shanghai branch office on 3 March 1865 and has had a continuous presence in the city[9] since then, except 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. On 6 August 2004, HSBC announced that it would pay USD 1.75 billion for a 19.9% stake in Shanghai-based Bank of Communications. At the time of the announcement, Bank of Communications was China's fifth-largest bank and the investment by HSBC was eight times bigger than any previous foreign investment in a Chinese bank. The industry considered this move, giving HSBC a lead in the race to grab pieces of mainland China's banking market. A year earlier, HSBC had joined with Hong Kong's Shanghai Commercial Bank to purchase an 11% stake in Bank of Shanghai (HSBC paid USD 62.6 million for an 8% stake) and USD 733 million for a 10% stake in Ping An Insurance. In 1 April 2007, the mainland China offices of The Hongkong and Shanghai Banking Corporation transferred to its subsidiary HSBC Bank (China), and it started operations in 2 April.

India
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In 1959 HSBC acquired The Mercantile Bank of India, London and China, established in October 1853 in Bombay (now Mumbai). 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).

Indonesia
The Hongkong and Shanghai Banking Corporation opened its first Indonesian office in Jakarta in 1884. Having been able to restart its operations after the Second World War, it was again forced to close in mid-1960s, however the Bank was granted a new banking licence in 1968 its operations have grown to make it one of the largest foreign banks operating in Indonesia.

Japan
HSBC opened its first Japan operations in Yokohama in 1866, followed by branches in other trading ports such as Osaka, Kobe and Nagasaki. It was heavily involved in the
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early development of Japan's current monetary system, and consulted with the government regarding fiscal policy, currency printing and related matters. HSBC does not currently conduct ordinary retail banking in Japan, but conducts investment banking in Tokyo and Osaka. Since 2007 it has expanded its HSBC Premier private banking services for the "Mass affluent" market or high net worth individual clients. HSBC Premier currently has 7 Premier branches in Japan including centers in the Hiroo, Akasaka, Marunouchi(flagship), Ginza, Yokohama, Ikebukuro, areas of Tokyo and one in Kobe.

New Zealand
HSBC's operations in New Zealand are as a branch of The Hongkong and Shanghai Banking Corporation, which first gained a licence from the Reserve Bank of New Zealand on 22 July 1987. Today HSBC offers a range of financial products from a network of 9 offices.

Philippines

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HSBC's history in the Philippines dates back more than 130 years with the establishment of their first branch in Binondo, Manila in 1876. In its early years of operation, HSBC serviced the booming Philippine sugar industry. At the turn of the century, it financed railways that connected provincial towns across Luzon to Manila. During the American regime, HSBC was called to advise on Philippine currency reform. Its current headquarters are in Fort Bonifacio. Today, HSBC Philippines operates in key Philippine cities such as Cebu and Davao. It has ended Citibank and Standard Chartered's monopoly on international banking in the Philippines.

Singapore
In Singapore, The Hongkong and Shanghai Banking Corporation Limited operates as a full service bank with its headquarters in Collyer Quay. It opened its doors in December 1877. Today, HSBC's flagship office remains at the original Collyer Quay site where its first branch was opened. Its main office is located at Mapletree Business City in Pasir Panjang, Harbourfront. HSBC Singapore is a Qualifying Full Bank with 11 branches incorporating 5 HSBC Premier Centres and 33 Automated Teller Machines in Singapore and offers a comprehensive range of financial services including commercial banking, investment and private banking, insurance, forfaiting and trustee services, and securities and capital markets services.

South Korea
HSBC is expanding in competitive South Korean market, currently operating from a network of 11 branches, the first having been opened in Jemulpo in 1897.
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Sri Lanka
HSBC has been present in Sri Lanka for 116 years. The Hongkong and Shanghai Banking Corporation Limited established its first branch in Colombo Sri Lanka on 1 July 1892, just 27 years after it began operating in Hong Kong and Shanghai.

Taiwan
Main article: HSBC Bank (Taiwan) HSBCs presence in Taiwan dates back to 1885 when The Hongkong and Shanghai Banking Corporation appointed an agent in Danshui. A full service branch was established in Taipei in 1984. The bank now has a network of 8 branches (Hyperlink to service channel) island-wide, including Taipei, Chien Kuo, Panchiao, Tien Mu, Taoyuan, Taichung, Tainan City, and Kaohsiung. In 2007, The Hongkong and Shanghai Banking Corporation acquired The Chinese Bank in Taiwan. The acquisition made HSBC's island-wide branch network increase to 47.

Thailand
HSBC initially opened for business in Thailand in 1888, becoming the first commercial bank in the country. HSBC has made significant contributions to the establishment of solid foundations for Thailands financial and banking sectors. For example, in 1889 HSBC issued the first banknotes in Thailand. HSBC also issued the first foreign loan to
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the Thai government for its railroad construction project. HSBC's only branch in Thailand is situated in Bangkok on Rama IV Road opposite Lumpini Park.

Vietnam
In Vietnam, HSBC first opened an office in Saigon (now Ho Chi Minh City) in 1870. In August 1995, HSBC opened a full-service branch in Ho Chi Minh City. In 2005, HSBC also opened its second branch in Hanoi and established a representative office in Can Tho. On 29 December 2005, HSBC acquired 10% share capital of Vietnam Technological and Commercial Joint Stock Bank (Techcombank), one of the largest joint stock commercial banks in Vietnam by equity. In July 2007, HSBC became the first foreign bank to increase its stake in Techcombank to 15%. In September 2008, HSBC completed the increase of its stake in Techcombank to 20%, became the first foreign bank in Vietnam to hold a 20% interest in a domestic bank. In September 2007, HSBC acquired 10% share capital of Bao Viet Holdings, becoming the sole foreign strategic partner of Vietnams leading insurance company. In October 2009, HSBC signed an agreement to increase its shareholding in Bao Viet Holdings to 18% from 10% for VND1.88 trillion (approximately US$105.3 million). On 1 January 2009, HSBC started operating its locally incorporated entity and became the first foreign bank to incorporate in Vietnam, after gaining approval from the State Bank of Vietnam (SBV) to set up a Wholly Foreign-Owned Bank (WFOB) in Vietnam in September 2008.

Cultural References
In Hong Kong, the local population sometimes refers to the bank as, "the Lion Bank", because of the pair of lion statues outside the HSBC headquarters, which also appear in some banknotes. Local films and television series set in Hong Kong, especially comedies, use this nickname when referring to the bank.
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Although the Hong Kong Government changed the official spelling of "Hongkong" to Hong Kong", by the instructions of the Secretary of State for the Colonies, on 3 September 1926, HSBC uses the older Hongkong, as the bank's name was conceived before the official declaration of the modern two-word name, and it was decided to retain the single word spelling in the Bank's name: Hongkong. The famous English humorist P. G. Wodehouse was a junior employee at the Bank's London office in Lombard Street from 1900 to 1902, and used the bank as an inspiration for some of his early work, especially his 1910 novel Psmith in the City

Ethical Concerns
In August 2010, there were protests in front of the HSBC headquarters in Hong Kong with banners stating "HSBC The World's Local Crooks". Banner Other articles of HSBC ways of dealing with customers: HSBC under fire as only wealthy customers are put through to call centres in Britain
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HSBC Holdings plc

HSBC Holdings plc

Type SEHK: 005

is a global banking and financial services company

Public limited company

Traded as

LSE: HSBA NYSE: HBC Euronext: HSB BSX: 1077223879 Banking

Industry

Financial services Investment services 1991

Founded

(HSBC Holdings plc)

1865
(The Hongkong and Shanghai Banking Corporation Limited)

Founder(s)

Sir Thomas Sutherland 8 Canada Square,

Headquarters

Canary Wharf, London, United Kingdom

Number of locations Area served

7,500 offices in 87 countries & territories Worldwide Douglas Flint

Key people

(Group Chairman)

Stuart Gulliver
(Group Chief Executive)

Finance and insurance Consumer Banking Corporate Banking Investment Banking Products Investment Management Global Wealth Management Private Equity Mortgages Credit Cards

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HSBC Holdings plc was founded in London in 1991 by The Hongkong and Shanghai Banking Corporation to act as a new group holding company and to enable the acquisition of UK-based Midland Bank.[1] The origins of the bank lie in Hong Kong and Shanghai, where branches were first opened in 1865. Today HSBC remains the largest bank in Hong Kong, and recent expansion in mainland China, where it is now the largest international bank, has returned it to that part of its roots. HSBC is a universal bank and is organised within four business groups: Commercial Banking; Global Banking and Markets (investment banking); Personal Financial Services (retail banking); and Private Banking. HSBC's primary listing is on the London Stock Exchange and it is a constituent of the FTSE 100 Index. It has secondary listings on the Hong Kong Stock Exchange (where it is a constituent of the Hang Seng Index), the New York Stock Exchange, Euronext Paris and the Bermuda Stock Exchange. As of August 2010, it was the largest company listed on the London Stock Exchange, with a market capitalisation of 115.8 billion.

Customer Groups
HSBC splits its business into four distinct groups:

Retail Banking and Wealth Management

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.

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Retail Banking and Wealth Management was previously referred to as Personal Financial Services. This rename was announced during HSBC's 2011 Investor Day.

Commercial Banking
HSBC provides financial services to small, medium-sized and middle-market enterprises. The group has more than 3 million of such customers, including sole proprietors, partnerships, clubs and associations, incorporated businesses and publicly quoted companies.

Global Banking and Markets

Global Banking and Markets is the investment banking arm of HSBC. It provides investment banking and financing solutions for corporate and institutional clients, including corporate banking, investment banking, trade services, payments and cash management, and leveraged acquisition finance. It provides services in credit and rates, foreign exchange, money markets and securities services, in addition to asset management services. Global Banking and Markets has offices in more than 60 countries and territories worldwide, and describes itself as "emerging markets-led and financing-focused". Global Banking and Markets is currently being led by former fixed-income trader Samir Assaf, who was promoted from global head of markets on 10 December 2010.

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 Asia-Pacific region, the Americas, the Middle East and Africa. As of December
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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.

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.

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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'.

References
1.

Hong Kong Companies Registry Company registry numbers: SO0000027 Profile: Profile: Hong HSBC Kong & Holdings Shanghai plc, Bank, Hoovers. Grandprix.com.

and 0263876.
2.

http://www.hoovers.com/globaluk/sample/co/history.xhtml?ID=ffffcrksftxxchrftc
3.

http://www.grandprix.com/gpe/spon-022.html

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4.

Lim, Patricia (2002), Discovering Hong Hong's Cultural Heritage, Hong Hoare, Jim. Pares, Susan. [](2005)A Political And Economic Dictionary Of Collis, Maurice (1965). Wayfoong: The Hongkong and Shanghai Banking http://www.crab.com.bd/news2.php?id=8 HSBC Amanah A Global Islamic Financial Service,

Kong: Oxford University Press, ISBN 0195927230.

5.

East Asia. London, UK Routledge Publishing. ISBN 978-1-85743-258-9

6.

Corporation. London: Faber and Faber. p. 251. OCLC 2865302.

7. 8.

http://bankinfobd.com/blog/hsbc-amanah-a-global-islamic-financial-service
9. 10. 11.

List of HSBC branches in China, http://www.hsbclocations.com/china/ List of HSBC branches in India, http://www.hsbclocations.com/india/ List of HSBC branches in Indonesia,

http://www.hsbclocations.com/indonesia/
12.

List of registered banks in New Zealand, Reserve Bank of New Zealand, HSBC International Networks,

http://www.rbnz.govt.nz/nzbanks/0091622.html
13.

http://www.hsbc.com/hsbc/about_hsbc/international-networks/asia-pacific
14. 15.

The Hong Kong Government Gazette GA 1926 No.479 McCrum, Robert M. (2004), Wodehouse: A Life, New York & London:

W.W. Norton, pp. 85, ISBN 0393051595.

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