The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

HSBC's local heroes take a global view

HSBC's retail and corporate bank marketing has stressed its prowess as the world's local bank. However, the quest for a much enhanced global investment banking business demands a break from group tradition, one that redeployed and enhanced top management seems intent on implementing.

CHANGE IS IN the air at HSBC's shiny new group head office in Canary Wharf. The Norman Foster designed building is itself a departure from the norm. It might be a conservative HSBC-grey colour inside and out, but it is sufficiently capacious to allow staff from the bank's many different divisions in London to be centralized in one location for the first time. It's also where HSBC is orchestrating a new push into global investment banking.

It's not the first time that this venerable global corporate and retail banking group has tried to address its long-standing weakness in this area but this latest effort seems more determined and better planned. Stephen Green, the ex-investment banking head, is now chief executive of the group, a strategic plan is in place to integrate the corporate and investment bank and Stuart Gulliver and John Studzinski, the two co-heads Green has appointed to take over from him, have the ability to make things happen - and fast.

It is a significant departure from HSBC's two-centuries-old organizational principles of regionalism and cautious conservatism, frugality and steady organic growth. But whether it can be radical enough to create a successful investment bank while still adhering to these wider group principles is yet to be tested.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree