H s b c bank

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This article does not cite any sources. The Hongkong and Shanghai Banking Corporation established its Shanghai branch office on 3 April 1865, previous to other upstarts of HSBC, and indeed, as part of the historic English investment of Eastern Asian nations in the 19th century. 1945, during which Japan forced HSBC and other foreign-invested banks to leave the local market, it has had a continuous presence in the city. In April 1955, HSBC handed over this office to the Communist government, and its activities were continued in rented premises. Its activities were mainly in inward remittances and export bills until the economic reforms of the late 1970s. Chinese authorities had offered to lease HSBC its old headquarters on The Bund in 1995 but the offer was turned down. In mainland China, HSBC has the largest services network among foreign banks. The h s b c bank offers a full range of services that cater to both middle-class individuals and to business-oriented individuals as well, from a robust network of 37 main branches, and 23 smaller branches.

5 billion in select mainland financial services entities and in the growth of its own operations, including a 19. The China Banking Regulatory Commission announced on 24 December 2006 its approval for foreign banks to start their preparatory work for setting up local incorporations in mainland China. Founded in 1865, HSBC is one of the world’s leading international banks. Find the latest media releases, key speeches by executives, and details of recent awards. Read the latest views from HSBC experts and analysis from our economists.

Please be aware that the external site policies, or those of another HSBC Group website, may differ from our website terms and conditions and privacy policy. Please try a different search term. Cutting carbon for companiesHSBC has led a financing deal that will pay for sectors including construction and utilities to reduce their emissions in China and beyond. Watch our short animation to find out more about us. Document has been added to the download basket. Document has been removed from the download basket. Jump to navigation Jump to search This article is about the HSBC Group. HSBC Holdings plc is a British multinational investment bank and financial services holding company.

HSBC has around 3,900 offices in 65 countries and territories across Africa, Asia, Oceania, Europe, North America, and South America, and around 38 million customers. As of 2014, it was the world’s sixth-largest public company, according to a composite measure by Forbes magazine. Retail Banking and Wealth Management, and Global Private Banking. For more information on the history of HSBC prior to the founding of HSBC Holdings in 1991, see The Hongkong and Shanghai Banking Corporation. The Hongkong and Shanghai Bank was founded by Thomas Sutherland in the then-British colony of British Hong Kong on 3 March 1865, and in Shanghai a month later, benefiting from the start of trading into China, including opium trading. In November 2002, HSBC expanded further in the United States.

US credit card issuer and subprime lender. The new headquarters of HSBC Holdings at 8 Canada Square, London officially opened in April 2003. In June 2004 HSBC expanded into China buying 19. 5 billion, becoming the first major bank to report its losses due to the unfolding subprime mortgage crisis. According to Bloomberg, «HSBC is one of world’s strongest banks by some measures». 4 billion to other UK banks. In March 2009, HSBC announced that it would shut down the branch network of its HSBC Finance arm in the United States, leading to nearly 6,000 job losses and leaving only the credit card business to continue operating.

On 11 May 2013, the new chief executive Stuart Gulliver announced that HSBC would refocus its business strategy and that a large-scale retrenchment of operations, particularly in respect of the retail sector, was planned. On 23 September 2010, Geoghegan announced he would step down as chief executive of HSBC. In August 2011 «to align our U. In 2012, HSBC was the subject of hearings of the U. On 16 July the committee presented its findings. 92 billion fine in this money laundering case.

Bank officials repeatedly ignored internal warnings that HSBC’s monitoring systems were inadequate, the Justice Department said. In 2008, for example, the CEO of HSBC Mexico was told that Mexican law enforcement had a recording of a Mexican drug lord saying that HSBC Mexico was the place to launder money. A 32-page brochure published on the HSBC website provides details of 2012 results in terms of markets, strategies, and businesses, as well as giving an outline of future plans. In July 2013, Alan Keir was appointed Chief Executive of HSBC Bank plc after Brian Robertson resigned from his post. Keir’s duties include overseeing the firm’s UK, European, Middle Eastern and African divisions. 2 billion UK pensions business to Swiss Re. 2 billion following years of disappointing performance.

In 2015, HSBC was recognised as the most trusted foreign bank in India by The Brand Trust Report 2015. In 2016, the bank was mentioned numerous times in connection with the Panama Papers investigation. In May 2016, HSBC announced that it would shut 24 of its 50 branches in India over the following several months, reducing its presence in the country to fourteen cities. On 20 March 2017, the British newspaper The Guardian reported that hundreds of banks had helped launder KGB-related funds out of Russia, as uncovered by an investigation named Global Laundromat. On 1 October 2017, Mark Tucker succeeded Douglas Flint as Group Chairman of HSBC, the first non-executive and outside chairman appointed by the group. Also in October 2017, HSBC announced that John Flint, Chief Executive of Retail Banking and Wealth Management, would succeed Stuart Gulliver as Group Chief Executive on 21 February 2018. In October 2020, HSBC committed to achieve zero emission by 2050, e. It also committed to provide 750 — 1,000 billion dollar to help clients make the transition.

It also pledged to achieve carbon neutrality in his own operations by 2030. In January 2021, HSBC announced that it would be closing 82 branches in Britain and therefore, more than 340 jobs would be cut. HSBC has its world headquarters at 8 Canada Square in Canary Wharf, London. In June 2006, The Economist stated that since the end of 2005 HSBC has been rated the largest banking group in the world by Tier 1 capital. In February 2008, HSBC was named the world’s most valuable banking brand by The Banker magazine. HSBC has been audited by PwC, one of the Big Four auditors since 2015. 300 million in legal and relocation fees as it plans to relocate 1,000 staff members from London to Paris.

4 million in charges for «costs associated with the U. HSBC ceased retail banking operations in Thailand and Japan in 2012. HSBC entered Brunei in 1947 but commenced winding down its operations on April 2016 citing the bank’s optimisation of its global network and reduced complexity. Further, HSBC Private Bank is a name for UK-based private banking division. HSBC provides financial services to small, medium-sized and middle-market enterprises. The group has more than 2 million such customers, including sole proprietors, partnerships, clubs and associations, incorporated businesses and publicly quoted companies.

In December 2015, HSBC announced that Noel Quinn will succeed Simon Cooper as the chief executive officer of Commercial Banking. Simon Cooper has decided to leave the bank to pursue other opportunities. Global Banking and Markets is the investment banking arm of HSBC. It provides investment banking and financing products for corporate and institutional clients, including corporate banking, investment banking, capital markets, trade services, payments and cash management, and leveraged acquisition finance. It provides services in equities, credit and rates, foreign exchange, money markets and securities services, in addition to asset management services. HSBC Private Bank is the marketing name for the private banking business conducted by the principal private banking subsidiaries of the HSBC Group worldwide. 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.

In September 2018, HSBC announced that Antonio Simoes will replace Peter Boyles as chief executive for global private banking from January 2019. Peter Boyles, a 43 years veteran with HSBC, has decided to retire from the bank. 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. It was first launched in the USA in November 2005 and is based on HSBC’s ‘First Direct’ subsidiary in Britain which was launched in the 1980s. 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. HSBC Advance is the group’s product aimed at working professionals. Advantages may vary depending on country, such as day-to-day banking services including but not limited to a Platinum Credit Card, Advance ATM Card, Current Account and Savings Account.

HSBC Premier is the group’s premium financial services product. It has its own portfolio of credit cards around the world. The exact benefits and qualification criteria vary depending on country. Customers have a dedicated Premier Relationship Manager, global 24-hour access to call centres, free banking services, and preferential rates. 5 million in investible assets held with HSBC. Before invitation, members must be HSBC Premier members for a designated period of time. In addition to HSBC Premier benefits, Jade by HSBC Premier have select concierge services, estate planning services, and access to Jade Centres around the globe. In both 2003 and 2010, U.

HSBC to strengthen its anti-money laundering practices. On 19 July 2012, India investigated alleged violation of safety compliance, in which Indian employees were believed to be involved. In June 2013, a media outlet in India did an undercover expose where HSBC officers were caught on camera agreeing to launder «black money. HSBC placed these employees on leave pending their own internal investigation. 700 million allegedly held in HSBC accounts in the Crown dependency. Following search warrants and raids beginning in January 2013, in mid-March 2013 Argentina’s main taxing authority accused HSBC of using fake receipts and dummy accounts to facilitate money laundering and tax evasion. In early February 2013, appearing before UK’s Parliamentary Banking Standards Commission, CEO Stuart Gulliver acknowledged that the structure of the bank had been «not fit for purpose.

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He also stated, «Matters that should have been shared and escalated were not shared and escalated. In June 2015, HSBC was fined by the Geneva authorities after an investigation into money laundering within its Swiss subsidiary. The fine was 40 million Swiss Francs. In July 2012, a US Senate committee issued a report which stated that HSBC had been in breach of money-laundering rules, and had assisted Iran and North Korea to circumvent US nuclear-weapons sanctions. Attorney General Lanny Breuer suggested that the U. HSBC which could lead to the loss of the bank’s U. He stated, «Our goal here is not to bring HSBC down, it’s not to cause a systemic effect on the economy, it’s not for people to lose thousands of jobs. Bank Secrecy Act, for violating four U.




881 million in drugs proceeds through the U. A February 2013 article in Rolling Stone magazine, which was critical of what they regarded as the timid response by the U. 275m by the US CFTC in 2014 for taking part in the Forex scandal. In February 2015, the International Consortium of Investigative Journalists released information about the bank’s business conduct under the title Swiss Leaks. The ICIJ alleges that the bank profited from doing business with tax evaders and other clients. Peter Oborne, chief political commentator at The Daily Telegraph, resigned from the paper and in an open letter claimed the newspaper suppressed negative stories and dropped investigations into HSBC because of the bank’s advertising. 5 billion currency scheme which defrauded HSBC clients and «manipulated the foreign exchange market to benefit themselves and their bank». In December 2018, The Jerusalem Post reported that HSBC confirmed that the bank would divest from Elbit Systems Ltd.


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According to Bloomberg, in August 2011 «to align our U. «billions of dollars of assets» were held by the bank for the Libyan Investment Authority, get an unparalleled view of macro and microeconomic events and trends from a bank that is a leader in both developed and emerging markets. These Offer Terms will prevail, download the app to activate it, gift Voucher cannot be used to purchase any other type of digital content such as apps. The existence of any dispute shall not, and Global Private Banking. 14 February 2013.

Israel’s largest non-government-owned military contractor, active in numerous defence-related industries. Hong Kong over the altar of banker bonuses». Since August 2020, HSBC has frozen the accounts of numerous pro-democratic organizations and activists, and their families, including Jimmy Lai, Ted Hui and the Good Neighbour North District Church. The FinCEN Files showed that HSBC moved millions of Ponzi scheme money in 2013 and 2014 despite the 2012 warnings. In 2008, HSBC issued a statement confirming it had lost a disc containing details of 370,000 customers of its life insurance business. HSBC said the disc had failed to arrive in the post between offices and that while it was password-protected, it was not encrypted. From 2009 to 2014, in breach of United States sanctions on Iran, the bank facilitated money transfers in Iran on behalf of the Chinese company Huawei. According to Global Witness and cited by BBC, «billions of dollars of assets» were held by the bank for the Libyan Investment Authority, controlled by Colonel Muammar Gaddafi.

In the report titled «In the Future There Will Be No Forests Left» produced by Global Witness, the bank was accused of supporting the seven largest Malaysian timber conglomerates which are responsible for deforestation in the Malaysian state of Sarawak. The bank was reported to have refused large cash withdrawals for customers without a third-party letter confirming what the money would be used for. Douglas Carswell, the Conservative MP for Clacton, was alarmed by the policy: «All these regulations which have been imposed on banks allow enormous interpretation. In 2014, the bank closed North London Central Mosque’s account and many of their Muslim clients’ and groups’ accounts. In August 2015, the bank failed to process BACS payments resulting in thousands of salaries not paid, house purchase and payment for essential home care failures. Logo used from 1998 to 2018. Logo used from 2018 to present.

The group announced in November 1998 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. The hexagon symbol was originally adopted by the Hongkong and Shanghai Banking Corporation as its logo in 1983. In 2018, HSBC made minor changes to their logo. The wordmark was repositioned from left to the right, resized to be smaller, and was switched from Serif to Sans-serif. Having sponsored the Jaguar Racing Formula One team since the days of Stewart Grand Prix, HSBC ended its relationship with motorsport after seven years when Red Bull purchased Jaguar Racing from Ford. In October 2010 the International Rugby Board announced that they had concluded a 5-year deal with HSBC which granted them status as the first ever title sponsor of the World Sevens Series. 100 million for the title naming rights to all the tournaments. HSBC is the official banking partner of the Wimbledon Championships tennis tournament, providing banking facilities on site and renaming the junior event as the HSBC Road to Wimbledon National 14 and Under Challenge.

HSBC’s other sponsorships are mainly in the area of education, health and the environment. 5 million partnership with SOS Children as part of Future First. List of investors in Bernard L. Archived from the original on 31 January 2013. Company History of HSBC Holdings plc in Fundinguniverse. Archived from the original on 12 May 2015. Archived from the original on 9 March 2011. HSBC: Bank sees profits plunge as it plans 35,000 job cuts».

And got away with it, Rolling Stone magazine, Matt Taibbi, 14 February 2013. Hong Kong has probably lost HSBC’s headquarters for good—and Beijing is to blame». HSBC Buys Bamerindus, Brazil Bank, For Billion». Bank Group to Buy Republic New York». HSBC buys Mexico’s biggest retail bank». Sir John Bond lays bare HSBC’s strategy for gaining ground». HSBC Gets Approval To Acquire Polish Bank». S faces OFT inquiry into HSBC deal». HSBC closes in on Iraqi bank deal». HSBC acquires Banca Nazionale del Lavoro SA from BNP Paribas SA». 750m to take on Chinese bank». Sinaloa Cartel Bought Narco Plane Via HSBC Bank». HSBC became bank to drug cartels, pays big for lapses». HSBC Executive Resigns at Senate Money-Laundering Hearing».

How HSBC Bank Got Away With Money Laundering for Drug Cartels». Sub-prime gloom picks up after HSBC warning». 7 Billion as Subprime Cuts Profit’, Bloomberg L. HSBC quick to comply with refinancing demands». HSBC bank closes its operations in the U. Jon Menon, HSBC Rues Household Deal, Halts U. 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. Benjamin Scent HSBC seeking to build `war chest’, The Standard, 4 March 2009. Stay safe online from the emerging threat of criminals using coronavirus as an opportunity to scam businesses. Find out more on how you can protect yourself. Welcome to HSBC in The Netherlands Connecting customers to opportunities. HSBC in The Netherlands is the country’s leading international bank.

We provide a range of corporate banking services, helping businesses to thrive and economies to prosper and enabling people to realise their ambitions. Visit HSBC in The Netherlands’ site for corporates to learn about our capabilities and solutions. Our corporate banking business works with top tier Dutch multinationals and subsidiaries of foreign companies to successfully implement their growth strategy. Our expertise in managing risk, payments and working capital are of particular interest to corporates looking for investment and growth in international markets. We partner with our clients, supporting them in their drive to succeed while delivering commercial opportunities in both developing and developed markets. Connecting institutional investors to global growth opportunities, with dedicated local support and expertise. Get the latest news, analysis and commentary from our business specialists by visiting the News and Insight section on our global corporate website. Get an unparalleled view of macro and microeconomic events and trends from a bank that is a leader in both developed and emerging markets. HSBC has been operating in the Netherlands since 1999. We are one of the world’s largest banking and financial services organisations. HSBC’s worldwide connections enable us to offer our corporate clients a global perspective combined with local knowledge and expertise.