HSBC holding was founded by the Hongkong and Shanghai Banking Corporation in 1991 to act as a company that owns other companies outstanding stock or in other words HSBC Holdings was formed to act as a group to act as holding company.
The origins of the bank can be traced back to 1865 when branches were first opened in Hongkong and Shanghai and hence both United Kingdom and Hong Kong are its’ home markets. HSBC is listed in Hongkong stock exchange as well as in London stock exchange thereby having dual primary listing. It has secondary listings in three exchanges, Euronext Paris, New York stock exchange and Bermuda stock exchange.
HSBC mainly consists of four groups- Global Private Banking, Commercial Banking, Global Banking and markets and Retail Banking and Wealth Management. Global private banking provides services to high net worth individuals and helps them preserve and grow their wealth. These services are provided in around 42 countries. Commercial Banking group helps small, medium and middle enterprises and has around 3 million customers using the services of this group. Global banking and markets provides investment banking services and has offices in around 60 countries .The last group serves around 54 million customers and provides services like current accounts, savings account, credit cards, financing, etc.
Founded by Thomas Sutherland and currently being led by Stuart Gulliver, HSBC Holdings has around 6600 offices in 80 countries and has 60 million customers. Employee strength is 266273 and it has global product lines like HSBC Direct, HSBCnet. HSBC strives to achieve dependable and providing the right services. Fostering a culture of communicating openly and transparently, the holdings is connected to regulators and customers.