Article 1 - Can you bank on HSBC shares? (X2)
In the world of banking, HSBC can actually be considered one of the new boys. The bank began operations back in 1991, with the Hong Kong and Shanghai Banking Corporation launching the entity as a holding company. The bank has grown since its earliest beginnings and today it has greater than 6,500 offices around the world, in 80 different countries. Their assets even reached $2.67 trillion, which solidified them as the largest bank in the world and the sixth largest PLC in the world today. Stature and size are important, but if you’re an investor, can you bank on HSBC shares when it counts the most?
Coming out of nowhere
After being out of the spotlight for many years, British banking shares
…show more content…
HSBC’s total assets were $2.963 trillion in 2015. The bank has 7,200 offices globally and caters to 89 million customers. Those contemplating investing in HSBC shares may want to find out that Forbes magazine rated HSBC the world’s most valuable bank by assets alone. Within HSBC, there are four business groups; these are Commercial Banking, Retail Banking and Wealth Management, Global Banking and Markets, and Global Private Banking. With that in mind, it is safe to say that HSBC has its fingers in many …show more content…
The HSBC Private Clients Services Group was started in 2002, which gave independent services to customers who had a high net worth. It was also in this time that HSBC expanded further in the US, which led to the formation of HSBC Finance, and would eventually become the second largest sub-prime lender in America. The 2000s saw the company increase across the globe, acquiring large-scale assets such as Marks & Spencer Retail Financial Service Holding Ltd in 2004. It held firm throughout the recession of 2007-10, performing better than other major banks, which, in the today’s market conditions could bode well for the company and HSBC
Prior to Fuller’s transfer, management at the Carson’s location was poorly run using the classical approach. While this approach can be successful, management has to find a good middle ground between caring for the company and caring about their employees. A traditional classical approach recognizes that there are five important factors to running a successful business (Miller, 19). According to text, these factors are planning, organizing, command, coordination and control (Miller, 19-20). These factors can be seen when you look at Third Bank as a whole. In the study, the CEO saw the issues in his company and put a plan together to improve. He had meetings with management, like fuller, to organize a solution. He then commanded all locations
opened its first branch in Schwab’s hometown, Sacramento, California. It expanded across the state and cut its expenditures by putting a very large importance on automation. In 1981, Bank of America offered Schwab fifty three million dollars in stock for his thirty seven percent ownership. He sold, but remained as president of a semi-autonomous division. At this point the division had annual sales of forty one million dollars, six hundred employees, and two hundred twenty thousand customers over forty branches. Development was quick, reaching around one point six million customers in 1986, with sales of three hundred and eight million dollars. Bank of America, though, had its own separate problems, and its stock plunged. The Schwab division and Bank of America battle intensified until 1987, when the deal was cut for Schwab to buy back the company for two hundred and thirty million. Schwab made the firm public. In 1988, though, the company was forced to refund two million dollars to customers whose funds had been unlawfully
Canadian Imperial Bank of Commerce, also known as CIBC, is Canada’s fifth largest bank. Established in 1961, the bank that we know today was formed through the merging of the Canadian Bank of Commerce and the Imperial Bank of Canada. At the time, these two banks were the largest banks in Canada. CIBC’s head office is located at 199 Bay Street, Toronto, Ontario. This international company operates in Canada, Europe, the United States and the Asia Pacific region. CIBC`s vision is To be the leader in client relationships. They value Trust, Teamwork and Accountability. Their corporate objectives include building on their financial strength, unlocking value for reinvestment and to culture focus on client relationships. CIBC currently
The year 2008 was a very scary one for anyone involved in the US stock market. Due to subprime lending, and cheap mortgages, the housing market became grossly overinflated. Naturally, as with a balloon that’s filled too much, it “popped”. The resulting collapse of the housing bubble had severe implications for the rest of the US economy, housing, and related industries such as lumber, construction, and realty all came crashing down, and the people employed in those fields soon found themselves out of work. As with the stock market crash of 1929, fear of the economic instability caused people to pull their money out of any investments they had. This can be a problem for a healthy bank, being unable to supply the money people are requesting if it’s tied up in loans. However, this would prove to be an even bigger problem if the money never existed in the first place, and would take down one of the largest scams in American history.
managers to leave them more time to get/retain clients (which was already being done in
Westpac began trading on 8 April, 1817 as the Bank of New South Wales. In the year 1982, the then Bank of New South Wales merged with the Commercial Bank of Australia, naming it as it is today, Westpac Banking Corporation. Westpac has branches and affiliates throughout Australia and New Zealand, contributed by merges throughout the previous years, and the Pacific region, and key financial centres around the world including London, New York, Hong Kong and Singapore. As at 31 March 2008, Westpac Group had a workforce of approximately 29,000 people around the globe and Westpac Banking Corporation had global assets of $402 billion1.
They have a strong core transaction processing infrastructure for meeting operational needs of a company this size.
The years 2008 shined a light on a group of people who were considered high society. When the stock market crashed in September 2008, the world shines a spotlight on the financial corporation. Words such as hedge fund manager and financial instrument such as credit default swaps are not words not known to everyday citizens. The economic downturn forced society to ask question not normally asked.
The early decades of the nineteenth century saw the establishment of banks in the Caribbean largely as a convenience for the local governments. Throughout much of the nineteenth century, most Caribbean banks operated as an oligopoly with limited government influence – this directly translated into higher profits. However, over time, the banking environment could best be described as complex and dynamic. Competition increased, resulting into greater need for improved customer service, product innovation and cost reduction strategies. In order to achieve this, the banking sector was undergoing major structural reforms characterized by mergers and acquisitions. On July 23, 2001 Barclays and CIBC announced that they were in advanced discussions which were intended to lead to the combination of their retail, corporate and offshore banking operations in the Caribbean.
Internal customers Barclays has number of internal customers who works for them, and also does banking with them. About 5% of accounts belong to Barclays’ staff. It is very important for Barclays to have internal customers because, without them, the financial organisation will have difficulties to meet the needs of external customers. For example, if you image the organisation as an iceberg, only 1/10th is above the water (the external customer), but 9/10th is hidden below the water (internal customers) which, is supporting external customers. This good example of importance of internal customers was extracted from the following website: www.citysun.ac.uk/newonline/customercare/task1/intro.htm.
Citigroup ' was founded as City Bank of New York in 1812 and remained a large regional bank until October 1998. Sandy Weill, then CEO of The Travelers Group an insurance company announced a $76 billion agreement to merge with Citigroup to form a new financial services conglomerate. It took only two years for the merger to pass federal law since the 1933 Glass-Steagall Act prevented banking and insurance companies from ever becoming one entity. As the new CEO of Citigroup, Sandy Weill was now at the helm of one of largest banking institutions in the world with over 300,000 employees and operations in over 120 countries. Popular brand names included CitiCards, CitiFinancial, CitiMortgage, Primerica, Salomon Brothers, Smith Barney, Diners Club and CitiCapital. Citigroup became the world’s first global financial supermarket where banking, brokerage and insurance were all held under the control of one organization. Citigroup is organized into four major segments; Consumer Banking, Global Cards, Institutional Client Group, and Global Wealth Management. Citigroup offers a wide range of products from retail banking, credit card services, and mortgage loans to global transaction services, M&A financing, and corporate lending. Citigroup is currently the largest bank in the United States with over US$600 billion in deposits and assets under management of over US$1.2 trillion.
During the past year Wells Fargo, a well-recognized bank of the United States, has been trying to clean its name and the mess it got itself into, when it was brought to the public that the bank was involved in generating fraudulent checking and savings accounts for its clients without their knowledge or their authorization. “The way it worked was that employees moved funds from customers' existing accounts into newly-created ones without their knowledge or consent”
Introduction Pramuka Savings and Development Bank (PSDB) was incorporated in 1997 as the first private savings bank in Sri Lanka. Mr. Rohan Perera was the founder of Pramuka Bank and was the founder and chief executive officer of Seylan Bank previously. After resigning from Seylan Bank, Mr. Perera applied for license to incorporate a commercial bank from Central Bank Sri Lanka. But Central Bank only gave license to operate a Savings and Development Bank. But that was also a debatable topic.
In this case study it was stated that there were a problem happen in the outsourcing for the Royal Bank of Scotland. What happen was there were an error that happen during the routine software upgrade that cause million of that bank customer cant access to their account. The error happen when one junior technician in India was accidently wiped all the information during the routine software upgrade. The member of staff that was working under the program for the Royal Bank of Scotland, NatWest and Ulster Bank and it was based in Hyderabad, India.
A Report on NatWest Bank and an Analysis of the Banking Industry 1. Introduction This report focuses on NatWest and the industry in which it operates. The purpose of the report is to give a concise but accurate view of how NatWest operates as an organisation and the links between its environment, in this case the banking industry. Company History =