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.
Despite plans by HSBC to cut staff globally by up to 5.5 per cent over the next three years, the bank still intends to hire people in Hong Kong, chief executive Stuart Gulliver told shareholders in the city yesterday.Tuesday, 21 May, 2013, 4:09am
Remember that old saying: in business, there are no friends, no enemies, but only "interests"? Well, last week, HSBC's chief executive, Stuart Gulliver, gave the saying fresh meaning when talking about his bank's two partners in China.20 May 2013 - 7:12am 1 comment
The future belongs to our children, and every loving parent should want that future to include the biodiversity that we take for granted.19 May 2013 - 3:55am 1 comment
Disruptive filibuster had to be halted
I agree with the decision of Legislative Council president Jasper Tsang Yok-sing to end a filibuster on the budget bill.16 May 2013 - 2:47am
HSBC will slash 14,000 more jobs worldwide to save an extra US$2-to-US$3 billion in costs by 2016 as the bank strives to revive profits in the face of fragile growth prospects for the industry.16 May 2013 - 5:48am 4 comments
The widespread use of offshore tax havens such as Hong Kong by nearly all 100 of the largest British-listed companies, including HSBC and Standard Chartered, may contribute to world poverty and raise the risk of tax evasion, says British charity ActionAid.14 May 2013 - 4:26am 2 comments
Many on business trips or holidays have said they were unable to get their hands on their cash from ATM machines.12 May 2013 - 6:28am 39 comments
The increased popularity of mobile payments in Hong Kong has pushed HSBC to invest in related technology, but the bank said it would not stop expanding its branch network.
Diana Cesar, head of retail banking and wealth management at HSBC in Hong Kong, said the lender would strike a balance between different banking services, even as mobile banking emerged as a growth area.10 May 2013 - 5:09am 1 comment
Readers will have been aware that during the recent dock strike, a number of dockers were camped outside the Cheung Kong building in Central, more or less opposite the HSBC headquarters at 1 Queens Road. The bank, unnerved by the Occupy Central movement, which set up camp in the area under the bank for almost a year, promptly restricted access to this space by lowering most of the shutters.10 May 2013 - 5:21am
A turnaround in its business in Europe and North America, fewer bad debts and cost-cutting helped HSBC post sharply higher first-quarter results yesterday. After adjusting for debt, investments and disposals, pre-tax profit surged 95 per cent to US$8.4 billion. The average analyst forecast was US$8 billion.8 May 2013 - 5:18am 1 comment