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.

Best bank award: Geoghegan appeals to banks and governments

HSBC chief warns against return of guaranteed bonuses; He asks regulators not to impose capital controls that inhibit lending

Michael Geoghegan keeps it simple at HSBC

Michael Geoghegan keeps it simple at HSBC

Last month, Euromoney held its annual Awards for Excellence dinner in London, presenting our global best bank award for 2009 to HSBC. Michael Geoghegan, group chief executive of HSBC Holdings, seized the occasion to deliver the speech that we reprint below in its entirety. It is a very good read. "Ladies and gentlemen, it’s a great pleasure to be here and to accept this award on behalf of the 300,000 staff that work for HSBC in 85 different countries. We have certainly had an interesting time in our industry. And when you’re classified as the best bank in the world, the global bank, the number one brand, et cetera, et cetera, and then, in the next breath, you’re told: ‘You’re too big too fail’, what will happen to you?

"Well, let me tell you what does happen at HSBC. We are a bank that runs on very simple principles. We run on the philosophy that, in fact, banking is very boring.

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.


Unlimited access to and

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


Unlimited access to and, 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


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