Hsbc - We Are the World's Local Bank

HSBC- we are the world's local bank

The Business/Organization

The HSBC Group is named after its founding member, The Hong Kong and Shanghai Banking Corporation Limited, which was established in 1865 to finance the growing trade between Europe, India and China. The inspiration behind the founding of the bank was Thomas Sutherland, a Scot who was then working for the Peninsular and Oriental Steam Navigation Company. He realized that there was considerable demand for local banking facilities in Hong Kong and on the China coast and he helped to establish the bank which opened in Hong Kong in March 1865 and in Shanghai a month later.

Soon after its formation the bank opened agencies and branches around the world. Although that network reached as far as Europe and North America, the emphasis was on building up representation in China and the rest of the Asia-Pacific region. HSBC was a pioneer of modern banking practices in a number of countries. In Japan, where a branch was established in 1866, the bank acted as adviser to the government on banking and currency. In 1888, it was the first bank to be established in Thailand, where it printed the countryЎ¦s first banknotes.

From the outset trade finance was a strong feature of the local and international business of the bank, an expertise that has been recognized throughout its history. Bullion, exchange, merchant banking and note issuing also played an important part. By the 1880s, the bank was acting as banker to the Hong Kong government and also participated in the management of British government accounts in China, Japan, Penang and Singapore. In 1874 the bank handled ChinaЎ¦s first public loan and thereafter issued most of ChinaЎ¦s public loans.

By the end of the century, after a strong period of growth and success under the leadership of Thomas Jackson (chief manager for most of that period from 1876 to 1902), the bank was the foremost financial institution in Asia.

Today with its headquarters in London, HSBC is one of the largest banking and financial service organizations in the world. HSBC's international network comprises over 9,800 offices in 77 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With listings on the London, Hong Kong, New York, Paris and Bermuda stock exchanges, shares in HSBC Holdings are held by nearly 200,000 shareholders in some 100 countries and territories. The shares are traded on the New York Stock Exchange in the form of American Depositary Receipts. Through an international network linked by advanced technology, including a rapidly growing e-commerce capability, HSBC provides a comprehensive range of financial services: personal financial services; commercial banking; corporate, investment banking and markets; private banking; and other activities.

HSBC conducts business in a wide variety of social and business cultures and in a broad range of political environments. As a commercial organization, the governing objective is to provide a satisfactory return on their shareholdersЎ¦ capital. HSBC does this by having a talented and motivated staff who offer their customers competitive services and products. They meet their financial obligations, invest to develop their business for the future; and investments are made primarily on a financial basis, but with regard to the principles and values set by the company. HSBC has always striven to maintain the highest ethical standards. HSBC articulates their commitment through the Statement of Business Principles and Values and their support for the UN Universal Declaration of Human Rights, the UN Global Compact and the Global Sullivan Principles. HSBCЎ¦s policy is not to make contributions to political parties or partisan organizations. HSBC works co-operatively with host governments and regulators while remaining politically neutral in all jurisdictions.

The HSBC Group is committed to five Core Business Principles through loyal and committed employees who make lasting customer relationships and international teamwork easier to achieve.

„h outstanding customer service

„h effective and efficient operations

„h strong capital and liquidity

„h prudent lending policy

„h strict expense discipline

The welfare of the entire HSBC staff is a fundamental concern. The company recruits and promotes employees solely on merit and suitability; they encourage staff to realize their full potential. While HSBC recognizes and rewards individual performance, they also foster teamwork in their working environment as well as encouraging initiative and innovation. Their members of staff receive, and must abide