HSBC Holdings PLC
What is HSBC Holdings PLC?
HSBC is one of the world's largest banking and financial services organisations. HSBC Holdings PLC is the parent company of this organisation.
Where have you heard about HSBC Holdings PLC?
You may have seen HSBC bank branches in various places around the world. In recent years, the bank (like many others) has been involved in a number of high-profile scandals which you may have seen, including tax avoidance, Libor manipulation, mis-selling mortgages and weakness in stemming money laundering.
What you need to know about HSBC Holdings PLC.
The bank was founded in 1865 to finance trade between Asia and the West. It has headquarters in London, with an international network of around 4,000 offices in 70 countries and territories.
It has a large presence in the Far East - its name is derived from the initials of The Hong Kong and Shanghai Banking Corporation Limited, the founding member of HSBC.
HSBC divides up its global business into four major groupings:
- Retail Banking and Wealth Management
- Commercial Banking
- Global Banking and Markets
- Global Private Banking
HSBC is very proud of the fact that the first business recorded in the first current account ledger is still a client today.