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Founded in 1865, HSBC Holdings (HSBA) is a large banking and financial services company, with corporate hubs in London, New York, Paris and Hong Kong. The company began as the Hongkong and Shanghai Banking group in 1865, coining the abbreviation HSBC. The original intention behind the formation of the company was to create a local bank to serve international needs.
Since then, the banking and financial services company has significantly expanded, currently they operate approximately 3,900 offices in 67 of the world’s countries and territories.
As part of their corporate strategy, the banking provider has, in recent years, cut its staffing levels from over 300,000 to 255,000 employees and exited several markets that proved unprofitable.
HSBC works through an extended international network, with branches spanning Asia, Europe, North Africa, the Middle East, North America and Latin America. The banking group is one of the foremost printers of the Hong Kong dollar.
HSBC specialises in four sectors; Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking.
The Retail Banking and Wealth Management sector aids clients in the management of their day-to-day finances and savings. They offer clients the option for personalised account management, financial planning, personal banking and international services.
Commercial Banking serves 1.7 million customers across 54 countries and territories, working with all sizes of companies from small businesses to multinationals. Accounts are handled by relationship managers who provide services including Global Trade and Receivables Finance, Global Liquidity and Cash Management, Global Banking, Insurance and Investments. The Commercial Banking, in total, facilitates over $500 billion in trade annually.
Global Banking and Markets serves HSBC’s institutional clients including corporates, governments and other institutions. Their focus is the sustainable overall performance of these groupings in the long term. Their 3 subcategories; Corporate Sector Group, Financial Institutions Group and Resources and Energy Group provide a number of commercial services including advisory, financial, research and analysis, and more.
The Global Private Banking is geared towards the private wealth management and preservation of that wealth of high-net-worth individuals. They provide personalised account services to individuals and families worldwide.
Additional, HSBC holds a subsidiary, the HSBC EDPI. This stands for HSBC Electronic Data Procession India Private Limited and provides financial organisation support services including contact and data entry. Delivering their expertise across HSBC’s groups.
HSBC was also a well-known player in the 2008 financial crisis. After purchasing and providing subprime mortgages and CDO space relatively late, they soon became the 2nd biggest lender in the US. Following the crisis, they remained liquid, as one of the first banking institutions to take write-downs.
With over 203,000 shareholders across 132 countries of the world, HSBC shares are listed on the London (LSE), Hong Kong, New Yok (NYSE), Paris and Bermuda stock exchanges. Find out more about the HSBC share price at Capital.com.
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