HSBC
British universal bank with roots in colonial Hong Kong.
Across Africa, Asia, Oceania, Europe, North America, and South America, HSBC runs operations in 57 countries and territories, providing services to roughly 39 million clients through its offices, branches, and subsidiaries.[1]
Quick Facts
- Founder
- Sir Thomas Sutherland
- Industry
- Financial services
Facts from the source article.
Key facts and history
London saw the creation of the current parent company, HSBC Holdings plc, in 1991; the original Hong Kong-based bank then became a fully owned subsidiary of this new entity.[2] By taking over Midland Bank in 1992, HSBC grew to be one of the UK's largest domestic banks.[2] A record $1.92 billion fine was agreed to by HSBC on 11 December 2012 for a money laundering case.[3] After corporate profits fell by 33% in 2019, HSBC declared in February 2020 that it would eliminate 35,000 jobs globally.[4]
What the cited sources add
The HSBC Japan branch account states that HSBC established its presence in Yokohama in 1866 and provided the Japanese government with assistance on the introduction of the yen as the national currency.[5] The Yale School of Management project notes that in June 1866, a list of thirteen companies, including the Hong Kong & Shanghai Banking Corporation, appeared in a local newspaper under the 'Shares and Stocks' section.[6] The HSBC history page states that HSBC is the world’s largest and best trade bank, offering solutions, expertise, and a vast network to empower businesses in expanding overseas.[7] The Mingtiandi article reports that HSBC Asset Management agreed to acquire Singapore-based real estate private equity firm SilkRoad Property Partners to expand its Asia Pacific real estate investment capabilities.[8]
According to the same article, the planned acquisition covers SilkRoad Property Partners Pte Ltd, as well as its subsidiaries located in Hong Kong, Shanghai, and Tokyo.[8]
References
- Wikipedia, "HSBC" (CC BY-SA 4.0), which cites: "Our markets", HSBC (original not read by us) en.wikipedia.org
- Wikipedia, "HSBC" (CC BY-SA 4.0), which cites: "HSBC's history", HSBC Holdings plc; Naidu, "HSBC considering listing UK banking arm – FT", Reuters, 9 December 2013; "Company History of HSBC Holdings plc in Fundinguniverse.com", Fundinguniverse.com; "HSBC Group Structure", HSBC Holdings plc; "Group history 1980–1999", HSBC Holdings plc (we also read that source) en.wikipedia.org
- Wikipedia, "HSBC" (CC BY-SA 4.0), which cites: "HSBC to pay $1.9 billion U.S. fine in money-laundering case", Reuters, 11 December 2012; "Too Big to Indict", The New York Times, 11 December 2012 (original not read by us) en.wikipedia.org
- Wikipedia, "HSBC" (CC BY-SA 4.0), which cites: Makortoff, "HSBC to cut 35,000 jobs worldwide as profits plunge", The Guardian, 18 February 2020 (original not read by us) en.wikipedia.org
- "About HSBC (HSBC in Japan)", The Hongkong and Shanghai Banking Corporation Limited of Hong Kong, Japan Branch (Tokyo). facts only, no text reused. about.hsbc.co.jp
- "Shanghai Stock Exchange Project", Yale School of Management, 30 July 2013. facts only, no text reused. som.yale.edu
- "HSBC's history", HSBC Holdings plc. facts only, no text reused. hsbc.com
- "HSBC AM Buying Singapore's Silkroad to build real estate deal team", 12 December 2023. facts only, no text reused. mingtiandi.com
Each numbered sentence above was checked against the source it cites before publication. Sentences citing Wikipedia adapt text from the English Wikipedia article HSBC (contributors), used under CC BY-SA 4.0; this entry is available under the same licence. Other sources were used for facts only; no text or images are copied from them.
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