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HSBC Holdings (HSBA)

HSBC Holdings (HSBA)

hsbc

HSBC is a world’s leading bank with a strong global presence across countries

The Hongkong and Shanghai Banking Corporation or HSBC is one of the leading banking and financial service providers in the world. It is a wholly owned subsidiary of HSBC Holdings. The bank has a strong global presence with a network of 7,500 branches. It has headquarters in London, England and offices in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. It has around 37 million customers all over the world. It is strongly present in England and Wales but it has smaller presence in Scotland and Northern Ireland. The bank has approximately 1800 sites in the UK.

It is considered safer for investment by customers because of its ability to sustain on its own. The bank has performed even during times of credit crunch which makes it different from other banks.

Its business areas include personal finance and commercial banking, private banking, consumer finance, corporate banking and investment banking. The company considers both United Kingdom and Hongkong continues as its home markets.

History

The Hongkong and Shanghai Banking Corporation has its origins in the cities of Hongkong and Shanghai, although it has stronger roots in Hongkong as compared to Shanghai. The origin of the bank in its original form goes back to 1865.

The bank was later incorporated formally in the year 1866. It was renamed by the Legislative Council by an amendment to its governing ordinance “The Hongkong and Shanghai Banking Corporation Limited”. Then it became registered as a regulated bank with the then Banking Commissioner of the Government of HongKong.

It was established in London as a new group holding company in 1991 by the Hongkong Shanghai Banking Corporation Limited. The bank was focussed on China and the Asia-Pacific in its early days, but it expanded to Europe and North America as well. It started new banking practices in many countries.

Executive Committee

Members of the Executive Committee:

Elaine Arden – Group Head of Human Resources

Samir Assaf – Chief Executive, Global Banking and Markets

Colin Bell – Group Head of Financial Crime Risk

Peter Boyles – Chief Executive, Global Private Banking

Patrick J Burke – President and Chief Executive Officer, HSBC USA

John Flint – Chief Executive, Retail Banking and Wealth Management

Pierre Goad – Group Head of Communications

Pam Kaur – Group Head of Internal Audit

Stuart Levey – Chief Legal Officer

Andy Maguire – Group Chief Operating Officer

Paulo Maia – Chief Executive, Latin America, HSBC and Executive Chairman, HSBC Mexico

Noel Quinn – Chief Executive, Global Commercial Banking

Antonio Simoes – Chief Executive Officer, HSBC Bank plc

Peter Wong – Deputy Chairman and Chief Executive, The Hongkong and Shanghai Banking Corporation Limited

Board of directors
Members of the board of directors:

Douglas Flint – Group Chairman, HSBC Holdings plc

Stuart Gulliver – Group Chief Executive

Iain Mackay – Group Finance Director

Phillip Ameen – Independent non-executive Director, member of the Group Audit Committee

Kathleen Casey – Independent non-executive Director, member of the Group Audit Committee and the Financial System Vulnerabilities Committee

Laura Cha, GBS – Independent non-executive Director, Chairman of the Philanthropic & Community Investment Oversight Committee, and member of the Nomination Committee and the Conduct & Values Committee

Henri de Castries – Independent non-executive Director, member of the Group Remuneration Committee

Lord Evans of Weardale – Independent non-executive Director, Chairman of the Financial System Vulnerabilities Committee, member of the Conduct & Values Committee and Philanthropic & Community Investment Oversight Committee

Joachim Faber – Independent non-executive Director, member of the Group Risk Committee

Irene Lee – Independent non-executive Director

John Lipsky – Independent non-executive Director, member of the Group Risk Committee, the Nomination Committee and the Group Remuneration Committee

Heidi Miller – Independent non-executive Director, member of the Group Risk Committee

Marc Moses – Executive Director and Group Chief Risk Officer

David Nish – Independent non-executive Director, member of the Group Audit Committee and the Group Remuneration Committee

Jonathan Symonds, CBE – Senior independent non-executive Director, Chairman of the Group Audit Committee, Interim Chairman of the Nomination Committee and member of the Conduct & Values Committee

Jackson (Jack) Tai – Independent non-executive Director, Chairman of the Group Risk Committee and member of the Financial System Vulnerabilities Committee

Pauline van der Meer Mohr – Independent non-executive Director, Chairman of the Group Remuneration Committee, Chairman of the Conduct & Values Committee and member of the Nomination Committee

Ben Mathews – Group Company Secretary

Recent performance

HSBC had a tough time due to volatile markets and a slowing world economy. It has fallen short of the required levels and reported lesser revenues.

“HSBC’s revenue outlook has clearly deteriorated, and such incremental cost initiatives are absolutely necessary to achieve a partial offset,”

said Ian Gordon at Investec.

“However, such measures alone will, we think, be inadequate to make material, near-term progress towards the group’s elusive 10pc return on equity target.”

Future plans

HSBC intends to sell its operations in Brazil sand Turkey and free up capital.

The bank has abandoned its plans for moving to Hongkong, its place of origin. After a detailed review of the possibilities, its board has decided to stay in UK.

The bank will keep its focus on Asia as it sees opportunities in the market.

Address: 8 Canada Square London E14 5HQ – United Kingdom

Website: https://www.hsbc.co.uk

Paul

The author Paul