The return of Michael Geoghegan to Hong Kong in January is the latest chapter in HSBC's intimate association with China.
The bank's founder, Sir Thomas Sutherland, saw an opportunity to provide financing amid the booming China-Europe trade among companies that were dissatisfied with the operations and credit lines of existing banks. It became the leading financial institution in Asia and served as the bank of the Hong Kong government, opening branches across Southeast Asia after the first world war. It issued bonds for the Chinese government and major state corporations, including the railway system. In 1923, it opened its Shanghai headquarters, a six-storey, neoclassical building on the Bund. It was the largest bank building in East Asia and the second-largest in the world. It served as the branch from 1923 to 1955.