HSBC

HSBC was established on March 3, 1865, in British Hong Kong and was originally called Hongkong and Shanghai Banking Corporation, founded to finance trade between Europe and Asia. The bank relocated its headquarters from Hong Kong to London in 1993 following the Midland Bank acquisition. In 1991, the current parent company, HSBC Holdings plc, was established in London and the historic Hong Kong–based bank became that entity's wholly owned subsidiary.

HSBC provides retail banking, commercial banking, investment banking, and wealth management services. HSBC is the largest Europe-based bank by assets, with $3.098 trillion as of September 2024, making it the 7th largest globally. The company had revenue in the last twelve months of $59.16 billion as of September 30, 2025, and annual revenue of $62.44 billion in 2024. HSBC Holdings had 211,479 employees as of December 31, 2025.

The company operates through four segments: Hong Kong (retail and commercial banking), UK (retail banking and commercial operations), Corporate and Institutional Banking (transaction banking and capital markets), and International Wealth and Premier Banking (premier banking, private banking, asset management, and insurance). In 2026, HSBC invested $13.7 billion in the privatization of Hang Seng Bank, a major subsidiary.

Recent Leadership News

Georges Elhedery was appointed Group CEO from September 2, 2024. David Rice was appointed as HSBC's first Chief AI Officer, effective April 1, 2026.