HSBC Is not a Hong Kong Company

After Hong Kong Island was ceded to the British in 1842, British merchants quickly recognized the need for banks to finance the rapidly growing trade between China and India passing through Hong Kong.

Thomas Sutherland, a Scottish banker and politician, seized this opportunity to establish a new bank. On March 3rd, 1865, the Hongkong and Shanghai Bank was founded in Hong Kong; and one month later, the Shanghai branch opened. In 1866, the bank was incorporated in Hong Kong as the Hongkong and Shanghai Banking Corporation, which is better known today by its acronym, HSBC.

Under Sir Thomas Jackson’s 26-year tenure as chief manager, from 1876 to 1902, HSBC expanded rapidly and became a leader in Asia. However, it was Michael Turner who initiated HSBC’s international expansion during his tenure as chief manager, from 1953 to 1962.

Following the signing of the transfer of sovereignty of Hong Kong to China in 1984, HSBC decided to relocate its headquarters. HSBC Holding plc, a non-trading dormant shelf company incorporated in England and Wales, completed its transformation in 1991 to become HSBC’s parent company. From then on, HSBC became a subsidiary of this holding under the name HSBC Limited.

Finally, in 1993, HSBC Holding plc relocated its world headquarters from 1 Queen’s Road Central in Hong Kong to 10 Lower Thames Street in London. In 2002, HSBC Holding plc moved to its current address at 8 Canada Square in London.