Hsbc Essay

10017 WordsMay 6, 201441 Pages
1.0: Profile of HSBC – The World’s Local Bank 1.1 HSBC Group HSBC was born from one small idea – a local bank serving local needs. In March 1865, HSBC opened its doors for business in Hong Kong and today it welcomes customers all over the world. The intervening years have formed the character of HSBC. Its experiences have created its core strengths of resilience, adaptability and capability for innovation. HSBC has weathered change in all forms – revolutions, economic crises, new technologies – and has adapted to survive. Growth has come organically and through strategic acquisitions, and these purchases have brought their own strengths and cultures to the Group. Hong Kong served as the bank¹s headquarters until 1992 when it was forced to move to London as a condition of completing the acquisition of Midland Bank in 1993. Today, Headquartered in London, HSBC is one of the largest banking and financial services organizations in the world. HSBC's international network comprises around 8500 offices in 86 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. Recent acquisitions and expansion in China are returning HSBC to part of its roots. With listings on the London, Hong Kong, New York, Paris and Bermuda stock exchanges, shares in HSBC Holdings plc are held by nearly 200,000 shareholders in some 100 countries and territories. As of 2009, it is both the world's largest banking group and the world's 6th largest company according to a composite measure by Forbes magazine. Through an international network linked by advanced technology, including a rapidly growing e-commerce capability, HSBC provides a comprehensive range of financial services. It has an enormous operational base in Asia and significant lending, investment, and insurance activities around the world. The resulting

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