HSBS is a British multinational bank which has operations in over 85 countries and is one of the biggest banks in the world. It has total assets of 2.67 trillion dollars and half of it is in Europe. HSBC stands for Hong Kong and Shanghai Banking Corporation and it considers London and Hong Kong as its home markets. HSBC has four business verticals namely Commercial Banking, Investment Banking, Retail Banking and Global Private Banking. HSBC started aggressively expanding into continental Europe since initially it was mainly concentrating on United Kingdom. It started its European acquisition venture with the buyout of Credit Commercial de France bank for an amount of 6.6 billion pounds. HSBC bought Mexico’s third largest bank for 1.1 billion dollars. It also spent 9 billion pounds to acquire Household Finance Corporation (HFC) which is USA issuer of credit cards. This helped HSBC to become one of the biggest subprime lenders in the United States under the title of HSBC Finance. Since then HSBC has been expanding aggressively in five continents buying banks and financial holding companies and taking its international operations to a completely new level (James, Paul W & Patomäki, Heikki, 2007).
HSBC global banking is a big part of the bank’s operations and it offers multiple services across different countries depending on the needs. Some of the common HSBC services include retail banking, commercial banking, investment banking, capital markets services, leveraged acquisition finance, trade services, etc. Its other important services are equity, bonds, credit and rates, money markets, foreign exchange and also asset management services (Shamah & Shani, 2003). It has an exclusive private banking arm called HSBC Private Bank which caters to ultra-high net worth individuals. It offers them personalized banking and caters to their need to invest in multiple avenues located in multiple countries all so that they can maximize the return on investment for their high net-worth customers.