HSBC launches WorldTrader - a global-first trading platform - The Digital Banker (2024)

FAQs

When did HSBC launch? ›

HSBC opened its doors in Hong Kong on 3 March 1865 and in Shanghai a month later. Our first office was in Wardley House at 1 Queen's Road in the heart of Hong Kong's Central district. 1 Queen's Road Central remains the bank's Hong Kong headquarters today.

HSBC Bank plc and HSBC UK Bank plc are members of the HSBC Group, the ultimate parent company of which is HSBC Holdings plc. HSBC Holdings plc beneficially holds 100% of both the shares and voting power of HSBC Bank plc and HSBC UK Bank plc.

What is an HSBC Global Money Account? It's a digital account you can use to hold money in different currencies. It's also an easy-to-use instant payment service that lets you manage, send and spend money in different currencies securely. It's free from HSBC fees. Non-HSBC fees may apply.

It is the largest Europe-based bank by total assets, ahead of BNP Paribas, with US$2.919 trillion as of December 2023. In 2021, HSBC had $10.8 trillion in assets under custody (AUC) and $4.9 trillion in assets under administration (AUA). HSBC traces its origin to a hong trading house in British Hong Kong.

The birth of a bank

In March 1865, HSBC opened its doors for business in Hong Kong, helping to finance trade between Europe and Asia. We have been supporting our customers for more than 150 years. Today, we serve around 41 million personal, wealth and corporate customers worldwide in 60 countries and territories.

“We are pleased to announce the sale of the domestic mass market of our US retail banking business. They are good businesses, but we lacked the scale to compete. Our continued presence in the US is key to our international network and an important contributor to our growth plans.

HSBC UK Bank plc is a British multinational banking and financial services organisation based in Birmingham, England. It is a wholly owned subsidiary of the global HSBC banking and financial group, which has been headquartered in London since 1993.

We're bringing together the people, ideas and capital that nurture progress and growth, helping to create a better world – for our customers, our people, our investors, our communities and the planet we all share. Our purpose – Opening up a world of opportunity – explains why we exist.

The Hongkong and Shanghai Banking Corporation Limited opened in Hong Kong on 3 March 1865 and in Shanghai one month later. It was the first locally owned bank to operate according to Scottish banking principles. By 1875 HSBC was present in seven countries across Asia, Europe and North America.

In April 2022, Citizens Bank completed the acquisition of 80 branches from HSBC in New York City, New Jersey, Pennsylvania, Washington, D.C., Maryland, Virginia, and Florida. HSBC's 10 West Coast branches are expected to be sold to Cathay Bank.

Why is HSBC so successful? ›

HSBC's success as a global financial services provider can be attributed to its strategic expansion into new markets. The company recognized the potential for growth in Asia and began expanding its operations in the region in the 1980s.

HSBC is one of the world's leading international banks. We aim to deliver long-term value for our shareholders through our extensive international network and balance sheet strength.

HSBC in the USA. HSBC, one of the world's largest banking and financial services organizations, has been connecting Americans to global opportunities since 1865.

Midland Bank still traded as Midland Bank, but started adopting an HSBC byline by the early 1990s, started using the HSBC logo from 1997, and was finally rebranded as HSBC Bank in June 1999, as part of the adoption of the HSBC brand throughout the group.

In March 2023 HSBC acquired Silicon Valley Bank UK (SVB UK) for £1. In June, HSBC Innovation Banking was launched, combining the innovation expertise and industry experience of the former SVB UK with the global capabilities of HSBC.