What is the development history of HSBC?

The development of HSBC Group has unique international characteristics. The main members of the group are older, with rich historical background and commercial achievements. Build a foundation? The name of the booming HSBC Group comes from its founding member, The Hongkong and Shanghai Banking Corporation Limited. The bank was established in Hong Kong and Shanghai on 1865 to provide funds for the increasingly frequent business activities between China and Europe. The bank was founded by Thomas, a Scot? Thomas Sutherland. At that time, he served as the director of Hong Kong Railway Shipping Company, and learned that there was a great demand for local bank credit in the coastal areas of Hong Kong and China. 1865 In March, he helped to establish Hongkong and Shanghai Banking Corporation, and a month later, Shanghai branches opened one after another. At that time, the bank took Queen's Road 1 as its headquarters, and it has not changed so far. From the end of 19 to the beginning of 20th century, the bank established agency business and branch network, mainly located in China and Southeast Asia, and set foot in Indian subcontinent, Japan, Europe and North America. In addition, the bank led the establishment of several branches? Use modern management science. Since its opening, it has been mainly engaged in trade financing, and gold trading, foreign exchange and merchant banking services have also played an important role. In addition, the bank also issues paper money in many countries in the Far East. During World War II, the bank was forced to close many branches and temporarily moved its headquarters to London. After the war, the bank shouldered the heavy responsibility of rebuilding Hong Kong's economy and began to expand its service network. Facing the global political and economic changes in 1950s, the bank had to analyze its future expansion strategy. The bank has expanded its market coverage through business acquisition and alliance, but it is still committed to developing traditional markets and continuing to expand its branch network in Hong Kong in an effort to rebuild Hong Kong. 1959, HSBC completed two important acquisitions, including the Bank of England in the Middle East (now called HSBC in the Middle East) and the beneficiary bank. The Bank of England in the Middle East, formerly known as Persian Imperial Bank, was founded in 1889. It expanded its business in the forties and fifties and took the lead in setting up banking business in the Middle East countries. Lide Bank was established in Mumbai as early as 1853, and established a distinct image in India and other Asian markets in the 1950s. 1965, the bank acquired the controlling stake of Hang Seng Bank (1933 was established in Hong Kong). In 1970s, the Bank implemented the expansion policy and made efforts to acquire companies with characteristics and expertise. In the 1980s, the bank went all out to enter the market where its business foundation had not been fully established. HSBC Canada and HSBC Australia were established in 198 1 year and 1986 respectively. Shanghai Haifeng Bank (now known as HSBC), headquartered in New York State, became a wholly-owned subsidiary of HSBC Group in 1987, and it is also its main subsidiary in the United States. HSBC Holdings Limited, the parent company of HSBC Group, was established in 199 1 and its shares are listed on the London and Hong Kong stock exchanges. HSBC Holdings acquired Midland Bank in July 1992, becoming one of the largest banking and financial services institutions in the world. Midland was founded in Birmingham on 1836. In the19th and 20th centuries, through a series of mergers? Business expansion, including 1974 acquisition of Samuel Montagu, London Commercial Bank. Samuel montague Company was founded in 1853 with a long history. Together with Zhan Jinbao, a major international securities company in London acquired by the Group in 1986, it was merged into HSBC Investment Bank. In 1990s, HSBC Group further expanded and strengthened its business. In the United States, HSBC Group established a joint venture company-Wells Fargo HSBC Trading Bank on 1995. In other parts of America, in 1997, the group established a new subsidiary-HSBC Bamarand Bank in Brazil, completed the acquisition of Roberts Group (now known as HSBC Argentina), and acquired 9.9% equity of Grupo Financiero Serfin/kloc-0 in Mexico. 1999, HSBC Holdings Limited signed a memorandum of understanding with the Korean government to purchase a controlling stake in Seoul Bank, one of the largest commercial banks in Korea. At present, HSBC Group operates distinctive banking and financial services institutions all over the world.

Refer to Chambers, Gillian Hang Seng, hengfeng bank (Hang Seng Bank, 199 1).

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