HSBC Bank (Europe)

HSBC Bank plc
Enlarge picture
HSBC Holdings PLC logo
Subsidiary of HSBC Holdings plc
Founded1836
HeadquartersLondon, England, UK
Key peopleStephen Green, Chairman
Dyfrig John, CEO
IndustryFinance and Insurance
ProductsFinancial Services
Employees56,000
SloganThe world's local bank
Websitewww.hsbc.co.uk
HSBC Bank plc is one of the major clearing banks in the United Kingdom having more assets than any other bank. The business ranges from the traditional High Street roles of personal finance and commercial banking, to private banking, consumer finance as well as corporate and investment banking. Across all brands the bank operates some 1800 sites in the UK.

HSBC's UK headquarters are at HSBC Tower, 8 Canada Square in the Canary Wharf area of East London. This building is also home to HSBC Holdings plc's headquarters, and houses some 8,000 staff over 45 levels.

Midland joins the HSBC Group

The Hongkong and Shanghai Banking Corporation acquired a 14.9 per cent equity interest in Midland Bank in 1987, and a strong working relationship developed. In 1992, HSBC Holdings plc acquired full ownership of Midland Bank. It was one of the largest acquisitions in banking history, giving HSBC the major foothold in Europe that it needed to complement its existing business in Asia and the Americas. Midland Bank was renamed HSBC Bank in 1999 as part of the adoption of the HSBC brand throughout the Group.

Enlarge picture
HSBC logo

UK banking

Under the HSBC brand the bank maintains a network of around 1500 branches throughout England and Wales, with a much smaller presence in Scotland and Northern Ireland where local banks tend to dominate. Branches are undergoing a rolling program of refurbishment to improve the 'retail experience' as the bank puts it, including the rebranding of branches as 'stores' and the inclusion of more open areas for staff to meet customers, as well as HSBC Live, a radio station specifically produced for the bank by media company Immedia in Newbury, Berkshire.

In January 2005 the bank was the first to hold a "Sale" along the lines of the January sales which have long been a feature of the UK high street, in which many of the wide range of financial services offer had their rates reduced/increased or prices cut. Following this, in January 2006, HSBC held another sale, this time focusing on 50% discounts/rate increases on a range of their financial products, and during January 2007, HSBC held the UK's first Green Sale in which HSBC donated £2 GBP to world wide conservation projects for every Sale product opened by customers.

HSBC Amanah

In mid-2003 HSBC became the first UK High Street lender to offer homebuying products in compliance with Sharia (Islamic) law, which prohibits the charging or payment of interest. The range now includes a bank account and home insurance policy (Takaful) as well as home finance.

HSBC at Morrisons

HSBC operates a number of outlets in supermarkets owned by the Morrisons supermarket chain, they trade as Your bank at Morrisons and offer a range of financial services, including an exclusive credit card and savings account.

Other UK operations

first direct

In 1989 the then Midland Bank launched first direct, the pioneer of the revolutionary concept of telephone banking, with a person-to-person service available 24 hours a day, 365 days a year. It now offers internet banking as well and serves more than one million customers. Over its first 15 years, first direct established a position as the United Kingdom's most recommended bank.[1]

HSBC Rail

As one of the three major Rolling Stock Companies in the UK, HSBC Rail owns around a third of passenger railway locomotives, multiple units and coaching stock running on Network Rails system, which it leases to various train operators. HSBC Rail (UK) Limited became a member of the HSBC Group in March 1997.

HFC Bank

Household International established HFC Bank as consumer finance business in the UK in 1973, it went on to became one of the largest consumer finance companies in the UK before Household was acquired by HSBC in 2003. HFC Bank provides retail credit to many leading national retailers and is the largest point of sale loan provider in the UK. The business focuses on retail finance, both through branches and direct channels, as well as co-branded and loyalty credit cards. Some of the key brands are the recently relaunched Beneficial Finance (with around 160 branches), marbles and The GM Card. Today HFC Bank has around 3.5 million customers.

Other brands

As a result of the Household acquisition, the UK group gained expertise allowing it to enter joint ventures and contracts with more high street names, such as taking over Marks and Spencer Money on a partnership basis in 2004 and the John Lewis Partnership Card contract.

European operations

Through various acquisition deals, including some inside the HSBC Group for reorganisational purposes HSBC Bank plc has become the regional headquarters for Europe. This means the lines of authority from across Europe for such entities as HSBC SA, HSBC Trinkaus & Burkhardt AG, HSBC Bank Malta plc, HSBC Turkey, HSBC Bank International and HSBC Private Bank in Europe lead to HSBC Bank plc.

Postal Address (Headquarters)

HSBC Bank plc, 8 Canada Square, LONDON, E14 5HQ

See also

References

1. ^ First Response Survey. December 2004. Research undertaken agency among 1,577 current account holders across the UK, between 30 November 2004 and 8 December 2004

External links


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1833 1834 1835 - 1836 - 1837 1838 1839

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London
Canary Wharf is the centre of London's modern office towers
London shown within England
Coordinates:
Sovereign state United Kingdom
Constituent country England
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Motto
Dieu et mon droit   (French)
"God and my right"
Anthem
No official anthem specific to England — the anthem of the United Kingdom is "God Save the Queen".
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Motto
"Dieu et mon droit" [2]   (French)
"God and my right"
Anthem
"God Save the Queen" [3]
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For other people with the same name, see Stephen Green.


Stephen Green (Chinese: 葛霖) (born 7 November 1948) is Group Chairman of HSBC Holdings plc.
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chair, convener, or seat is a seat of office, authority, or dignity, such as a professorship at a college or university, or the holder of that office, such as the chair of a committee.
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Chief Executive Officer (CEO), or chief executive, is the highest-ranking corporate officer, administrator, corporate administrator, executive, or executive officer, in charge of total management of a corporation, company, organization or agency.
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Financial services is a term used to refer to the services provided by the finance industry.
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Aspinwall Classification System (Leo Aspinwall, 1958) classifies and rates products based on five variables:
  1. Replacement rate (How frequently is the product repurchased?)
  2. Gross margin (How much profit is obtained from each product?)

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Financial services is a term used to refer to the services provided by the finance industry.
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In banking and finance, clearing denotes all activities from the time a commitment is made for a transaction until it is settled (see settlement). Clearing is necessary because the speed of trades is much faster than the cycle time for completing the underlying transaction.
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Motto
"Dieu et mon droit" [2]   (French)
"God and my right"
Anthem
"God Save the Queen" [3]
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:

Independent British banks

The table shows the main independent British banks.
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8 Canada Square (also known as HSBC Group Head Office, or HSBC Tower) is a skyscraper located in the Canary Wharf development in the London Docklands.
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Canary Wharf is a large business development in London, located on the Isle of Dogs in the London Borough of Tower Hamlets, centred on the old West India Docks in the London Docklands.
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East London is the name commonly given to the north eastern part of London, England on the north side of the River Thames.

The London boroughs that make up this informal area are Barking & Dagenham, Hackney, Havering, Newham, Redbridge, Tower Hamlets and Waltham Forest.
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The Hongkong and Shanghai Banking Corporation Limited

Subsidiary of HSBC Holdings plc
Founded 1865
Headquarters HSBC Main Building, Hong Kong SAR, China

Key people Vincent Cheng, Chairman
Sandy Flockhart, CEO
Industry Finance and Insurance
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Midland Bank was one of the Big Four banking groups in the United Kingdom. It is now part of HSBC. The bank was founded as the Birmingham and Midland Bank in Union Street, Birmingham, England in August 1836.
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Europe is one of the seven traditional continents of the Earth. Physically and geologically, Europe is the westernmost peninsula of Eurasia, west of Asia. Europe is bounded to the north by the Arctic Ocean, to the west by the Atlantic Ocean, to the south by the Mediterranean Sea,
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Asia is the world's largest and most populous continent. It covers 8.6% of the Earth's total surface area (or 29.4% of its land area) and, with almost 4 billion people, it contains more than 60% of the world's current human population.
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Americas are the lands of the Western hemisphere or New World consisting of the continents of North America[1] and South America with their associated islands and regions. The Americas cover 8.3% of the Earth's total surface area (28.
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England and Wales are both constituent countries of the United Kingdom, that together share a single legal system: English law. Legislatively, England and Wales are treated as a single unit (see State (law)) for the conflict of laws.
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Motto
Nemo me impune lacessit   (Latin)
"No one provokes me with impunity"
"Cha togar m'fhearg gun dioladh"   
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The Union Flag is the official flag used by the government to represent Northern Ireland. The former official flag, the Ulster Banner, continues to be used by groups (such as some sports teams) representing the territory in an unofficial manner (see Northern Ireland flags issue).
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