David Eldon's blog last week has attracted some attention. This is because Eldon is well-known as a former chairman of Hong Kong and Shanghai Banking Corp until his retirement in 2005 and because in his blog he dwells on recent events in Hong Kong.
The Hongkong and Shanghai Banking Corporation was founded in Hong Kong on March 3, 1865, and in Shanghai one month later. In 1980, HSBC acquired 51 per cent of Marine Midland Bank, buying the rest in 1987. HSBC Holdings was established in Britain in 1991 as the parent of The Hongkong and Shanghai Banking Corporation ahead of its purchase of the UK-based Midland Bank and the impending 1997 transfer of sovereignty of Hong Kong from Britain to China.