HSBC (Hongkong and Shanghai Banking Corporation) is one of the largest and most established banking institutions in the world, headquartered in London, UK. Founded in 1865 in Hong Kong and Shanghai to finance trade between Europe and Asia, HSBC has since expanded its operations globally. Today, the bank operates in over 64 countries and serves more than 40 million customers across various sectors, including retail banking, wealth management, investment banking, and commercial banking.
HSBC is known for its robust financial services, spanning personal banking, global banking, private banking, and asset management. The bank's emphasis on digital innovation and sustainable finance initiatives has made it a leader in the global banking industry. With a legacy spanning over 150 years, HSBC continues to play a pivotal role in the global financial landscape, adapting to modern banking needs while upholding its strong heritage.
CEO and Founder of HSBC
HSBC was founded in 1865 by Thomas Sutherland, a Scottish businessman, who saw the need for banking services to support international trade between China, India, and Europe. The bank’s first two branches were established in Hong Kong and Shanghai, giving rise to its name, the Hongkong and Shanghai Banking Corporation.
The current CEO of HSBC is Noel Quinn, who took over the leadership in March 2020. Under his stewardship, HSBC has focused on expanding its digital banking services and strengthening its presence in Asia, which remains a key market for the bank. Quinn’s strategic direction is aimed at modernizing HSBC’s operations while maintaining a strong commitment to environmental sustainability and global development.
List of Top Companies Under HSBC
HSBC operates a range of subsidiaries and associated companies across various financial services, contributing to its global footprint. Below is a list of some of the top companies under HSBC, along with their approximate valuations:
| Company Name | Year Established/Acquired | Valuation | Industry |
|---|---|---|---|
| HSBC Bank Plc (UK) | 1865 | $250 Billion | Retail and Commercial Banking |
| HSBC Global Asset Management | 1994 | $50 Billion | Asset Management |
| HSBC Private Banking | 2000 | $200 Billion | Wealth Management |
| HSBC Amanah | 1998 | $10 Billion | Islamic Banking |
| HSBC Securities (USA) Inc. | 1984 | $15 Billion | Investment Banking |
| HSBC Insurance Holdings | 2000 | $35 Billion | Insurance Services |
| HSBC Trinkaus & Burkhardt (Germany) | 1785 (Acquired) | $5 Billion | Private Banking |
| HSBC Finance Corporation | 2003 (Acquired) | $40 Billion | Consumer Finance |
| HSBC Mexico, S.A. | 2002 (Acquired) | $30 Billion | Retail and Commercial Banking |
| First Direct | 1989 | $5 Billion | Digital Banking |
FAQs About HSBC
Q1: When was HSBC founded, and by whom?
A: HSBC was founded in 1865 by Thomas Sutherland, a Scottish businessman, to support trade between Europe and Asia.
Q2: Who is the current CEO of HSBC?
A: The current CEO of HSBC is Noel Quinn, who assumed the role in March 2020.
Q3: What are HSBC’s main areas of operation?
A: HSBC operates in retail banking, wealth management, commercial banking, global banking, and investment services, with a strong focus on digital transformation.
Q4: What is HSBC’s presence in Asia?
A: HSBC has a strong presence in Asia, particularly in Hong Kong, China, and Southeast Asia, where it plays a major role in supporting trade and investment.
Q5: What is HSBC’s role in sustainable finance?
A: HSBC is committed to sustainable finance, aiming to provide $1 trillion in sustainable financing and investment by 2030 to support the global transition to net-zero carbon emissions.
Q6: What is HSBC Global Asset Management?
A: HSBC Global Asset Management is a subsidiary of HSBC, providing investment management services to individual and institutional clients, with a valuation of around $50 billion.
