Hsbc where is it based out of

In another sign of displeasure, Chinese regulators in Shanghai last August fined the bank and three senior HSBC bankers on the mainland, and in a rare move publicized their names. In the middle of last year, Chinese regulators also stopped holding one-on-one meetings with senior HSBC bankers, according to two mainland employees at the lender with direct knowledge of the matter.

Reuters pieced together the campaign to humble HSBC, whose financial future depends on China, through interviews with more than 20 employees at state-owned companies, over 50 current and former bank employees, and several staff members at competing lenders.

All spoke on condition of anonymity. In interviews with Reuters, bankers at HSBC said the broader campaign against the bank in China curtailed efforts to expand its business: freezing it out of bond issuances, stymying its access to retail customers and locking it out of pitches for syndicated loans — lending done by groups of banks.

Standard Chartered PLC, a British archrival of HSBC with a similarly long presence in the region, saw an increase in total proceeds from its China syndicated loans in , according to the data. HSBC has little choice but to tough it out. As the biggest foreign lender in China, enjoying long relationships with some of its largest firms, HSBC plays an important role in providing credit, foreign exchange options, and bond- and equity-underwriting services to Chinese businesses abroad.

It opened in Hong Kong in March of Its Shanghai operations started a month later. In it was the first foreign recipient of a banking license after mainland China re-opened to the world. In , it became the first foreign bank in China to underwrite yuan-denominated bonds issued by financial institutions. In , the bank announced it was adding hundreds of staff to bolster the southern Pearl River Delta region as its gateway to the mainland.

And in , it became the first foreign bank in China to launch a majority-owned securities joint venture. He has been a member of the Chinese People's Political Consultative Conference, a top political advisory body. The birth of a bank. Read more. Did you know? He was recorded as being late for work 20 times in his first year.

HSBC History website opens in new window. Gallery View the latest display of historic photographs from our company archives.

Play video about The opening of China. Our global businesses serve more than 40 million customers. Meet our board of directors and senior management and find out more about our approach to corporate governance. We are committed to helping our people to develop their skills in an inclusive environment — and to supporting the communities where we operate.

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