Please boost your Plan to download papers
Pages 9 (2259 words)
The HSBC is one of the largest and oldest modern banking corporations in the world. Though current group holdings and its present structure was formed only in the 1990s, the financial institutions and the original Hong Kong and Shanghai Banking Corporation and the Mercantile Bank that it took over has over a generation of experience in the banking and financial sector…
This paper is a review of its strategic planning and resulting growth along with a brief history of the company.
The original Hong Kong and Shanghai Banking Corporation was started in 1865 by a visionary Scottish businessman called Thomas Sutherland to facilitate growing trade between China and India and the Europe. The company began rapid expansion in Europe and USA even though the main focus was expansion in Asian countries. The company at that time grew large enough even to fund government projects in many developing countries in Asia. World War II saw many of its operations in Asia being closed down. The bank realised that focusing only on Asia was risky and began a expansion program mainly through acquisitions in Europe, Asia and the formation of a organization in the USA. The prominent acquisitions include the Hand Seng Bank, the Mercantile Bank and the British Bank of the Middle East (all in the Asia-Pacific region), the Marine Midland Bank (USA) and the Midland Bank (UK). "The formation of HSBC Holdings plc in 1991, creating a holding company for the entire Group with its shares quoted in London and Hong Kong, showed that the Group viewed Europe and the London market in particular, as a vital part of its future development." (Group History 1980-1999. 2009).
A typical departmental structure is explained here. ...
Not exactly what you need?