HSBC Holdings plc
HSBC Holdings is a multinational financial services holding company. Its activities are organised into 4 business groups:[2018]
- 48.5%: Retail banking and Wealth management: sales of classical and specialized banking products and services (consumer loans, leasing, factoring, private card management, etc.) and wealth management;
- 32.7%: Commercial banking;
- 16.1%: Investment, financing and market banking: operations on the capital markets, operations on rates, change rates and natural resources, merger and acquisition consulting, initial public offerings, capital investment, specialised and unionised financing solutions, etc.;
- 2.9%: Private banking. MarketScreener, HSBA
Corporate Political Engagement Rating:[1] Transparency International B
Financing Fossil Fuels:[2]
Tar Sands: $231m
Arctic Oil: $297m
Offshore: $4.53bn
Fracking: $2.05bn
LNG Export: $505m
Coal Mining: $139m
Coal Power: $845m
HSBC owns and operates M&S Bank.
Company
- 6.99% Ping An Asset Management Company Ltd[1][2]
- 2.73% Vanguard Group Inc
- 2.40% BlackRock Fund Advisors
- 2.11% Legal & General Investment Management Ltd
- 2.00% Norges Bank Investment Management
- 1.84% BlackRock Investment Management (UK) Ltd
- 1.03% BlackRock Advisors (UK) Ltd
- 0.90% Aberdeen Asset Investments Ltd
- 0.86% SSgA Funds Management Inc
- 0.76% State Street Global Advisors Ltd
Conservative Party Funding
See also Cameron-Clegg Ministry
- May.03.2017: Millions of pounds originating from HSBC have been laundered directly to the Conservatives. Dark Money. (Follow up the links in the article.) Kitty S Jones, Any Voice.
- Apr.28.2017: How HSBC’s "dark money" could have bought the Conservatives the 2010 general election. Dark Money. (Follow up the links in the article.) Steve Topple, The Canary.
HSBC Bank plc
HSBC Bank plc provides banking and financial services. The Bank offers personal and business banking, home loans, borrowing, investments, insurance, non-resident services, and online banking services. HSBC Bank serves clients globally. , History, CH, Reports
HSBC Bank plc is one of the major clearing banks in the UK. The business ranges from the traditional High Street roles of personal finance and commercial banking, to private banking and consumer finance, as well as corporate and investment banking.
HSBC Global Asset Management (UK) Ltd
The usual: "we offer investment expertise for sovereign wealth funds, central banks and supranations. Discretionary, advisory or execution-only solutions... research and investment resources and specialised capabilities..."
Timelines
- Rona Fairhead, Baroness Fairhead Rona Fairhead, Baroness Fairhead
- Mr Ethical, DDG, chinamatters.blogspot.de, Mr Ethical, The Corporate Panopticon – how HSBC controls society, HSBC – Gangsters of Finance. Excellent documentary from Arte, released in Dec.2017. Good overview of the crimes and venal nature of HSBC. (1hr 26mins).
- Netflix’s "Dirty Money": Cartel Bank, Drug Short, Payday, Hard NOx, The Maple Syrup Heist, The Confidence Man (6 episodes). 1st episode aired Jan.26.2018.
- HSBC: Gangsters of Finance review of Arte's 2018 documentary.
- HSBC and the mysterious man from HM Treasury
- Great cartoon from Matt Wuerker here
- All the Plenary's Men (2017), "The Definitive HSBC Scandal Documentary"
Midland Bank plc
- Mar.1977: Thomas Cook Group Ltd, a worldwide travel service, was wholly acquired when Midland purchased the 29.7% it did not already own from Forte Ltd, the British hotel company (23%), and the Automobile Association of Britain (6.7%).ref
Crédit Commercial de France
- 2001: Banque Hervet was acquired.
- Nov.2005: HSBC France: CCF was rebranded, along with its subsidiary companies UBP, Banque de Picardie and Banque Hervet.
- ??.2000: Banque Pelletier acquired.
- Jul.2000: HSBC Holdings plc acquired Crédit Commercial de France, enabling HSBC to establish itself in France, and to be listed on the Paris Stock Exchange.
- 1987: Banque Delort, a Crédit Commercial de France subsidiary, was sold to Auchan Holding, a large French retail group 95% owned by the Mulliez family.ref
Articles
- Aug.30.2020: Pressure mounts on HSBC to axe 'discriminatory' staff pension cuts. HSBC reduces former employees work pension by up to £2,500 a year on the grounds that they also receive the state pension, to boost profits, dividends and executive pay. Rupert Jones, The Guardian.
- Aug.28.2020: Hong Kong media firm Next Digital executives say HSBC has frozen their bank, credit card accounts. “HSBC has reportedly prevented Hong Kong-based executives at Next Media, a well-known publisher of pro-democracy publications, from accessing their credit cards and personal bank accounts. The bank is thus maintaining accounts for individuals who have been sanctioned for denying freedom to HongKongers, while shutting accounts of those seeking freedom.” Denise Tsang, Danny Mok, South China Morning Post..
- Dec.27.2018: HSBC 'divests' from Israeli arms company Elbit Systems. HSBC faced pressure from pro-Palestinian activists over its dealings with Elbit Systems Ltd, which makes drones and weapons systems. According to a 2017 report by activist group War on Want, HSBC had £3.1m invested in Elbit Systems. The group said HSBC had a total of £831.5m invested in companies that provided equipment to the Israeli military eg. Rolls-Royce , BAE Systems, US Air Force, Royal Air Force. Al Jazeera.
- Aug.01.2018: Former HSBC trader wins appeal against extradition to America. Harry Wilson, The Times.
- Mar.31.2018: HSBC is investigated over £134m ‘tax evasion’ scheme. HSBC has been embroiled in a criminal investigation into a £134m suspected tax evasion scheme created by the bank. Three former employees at HSBC’s London office have been interviewed under caution for their role in devising a tax scheme that sought to help wealthy backers save £million in tax. HSBC earned fees of about £2 million for licensing the scheme, which involved the sale of film rights, to the finance company Zeus Partners in 2008. Tag: Crown Prosecution Service (see Comments). Billy Kenber, The Times.
- Jan.28.2018: Paradise Papers businessman in African bribery inquiry. US justice department accuses Dan Gertler of bribing top officials to secure mining rights. Juliette Garside, The Guardian.
- And why is HSBC airbrushed out of article?
- Jan.28.2018: Dear @guardian, here are the "Swiss bank account" details missing from your article. You're welcome. @Mr Ethical, Twitter.
- Jan.27.2018: Anti-corruption campaigner Nicholas Wilson joins some dots connecting HSBC. {Video interview} Amber Rudd shut him down..., brother Rowland Rudd + Finsbury do global PR for HSBC; Amber Rudd was Energy Sec, awarded contract to EDF to build Hinkley Point C, EDF's advisers were HSBC, the builders were Kier, rep. by HSBC. Carillion, UK Export Finance (UKEF) under Minister of Trade is Baroness Fairhead of HSBC, was Liam Fox, in Jul.2017 Fox and UKEF made a loan of $600m to Carillion + Kier for building in the UAE. City of London Police outsourcing investigation of fraud to big City firms like Clifford Chance and Herbert Smith, solicitors that act for the banks. David Manley, head of City of London Police (CoLP), refused to investigate; they investigate themselves. Since Dec.2017 Manley works for HSBC. Former Met chief Bernard Hogan-Howe also now works for HSBC... Real Media.
- Jan.28.2018: Watch: HSBC and The Revolving Door. We caught up with HSBC Whistleblower Nicholas Wilson after a Parliamentary debate to find out more about HSBC’s recent hires from the police force, and Amber Rudd’s brother. Real Media News.
- Jan.27.2018: In the last 2 months HSBC has recruited former head of Metropolitan Police Bernard Hogan-Howe and former head of City of London Police Economic Crime Unit, David Manley. @Mr Ethical, Twitter.
- Jan.26.2018: Watch NetFlix Dirty Money "Cartel Bank". And remember the woman who was charged with stopping the crimes was head of BBC and is now a Baroness and International Trade Minister in the UK. @MrEthical, Twitter.
- Jan.19.2018: HSBC to pay $100m to settle US probe into currency rigging. Jonathan Stempel, S Sangameswaran, Reuters.
- Jan.18.2018: Ex-Head Met Police. works for HSBC. Ex-Head City Police fraud dept works for HSBC. Ex-head MI5 works for HSBC. Ex Chair of HSBC works for govt. Ex head BBC & HSBC director, works for govt. Ex chair HSBC Private Bank works for government. Ex Ambassdor KSA works for HSBC. @MrEthical, Twitter.
- Jan.17.2018: This is the mail I received from David Manley. Detective Chief Inspector of City Police explaining why he won't investigate #HSBCfraud. It's bullshit. He now works for HSBC. (screenshots of CV). @MrEthical, Twitter.
- Jan.17.2018: The ex head of MI5 works for HSBC. The ex head of the FBI worked for HSBC. The Archbishop of Canterbury's charity trust chair worked for HSBC. The last head of the BBC worked for HSBC. David Cameron works for HSBC. Hogan-Howe works for HSBC. George Osborne works for HSBC. Twitter.
- Jan.17.2018: The leading fraud detective in the UK now works for HSBC. The Home Secretary's brother does PR for HSBC. The International Trade Minister was an HSBC director. @MrEthical, Twitter.
- Nov.25.2017: @nw_nicholas was called "Mr Ethical" by his colleagues when he was at HSBC to mock him - because he was ethical. He has been a tireless and effective campaigner against corruption in UK. The UK needs more whistleblowers like him and far more inquiring and proactive MSM and BBC. @TomLondon6, Twitter.
- My story started with blowing the whistle on a £1bn fraud by HSBC (HFC Bank and John Lewis). I couldn't understand why, after doing that, nothing happened. So now I investigate the whole culture of corruption with banks, media, regulators & MPs that is destroying UK. #corruption @MrEthical
- Nov.24.2017: HSBC could face further forex lawsuit after High Court orders it to turn over trading records. @MrEthical, Twitter. >> The Telegraph
- Jan.20.2017: Whistleblower wins 13-year campaign against HSBC. Thousands of customers will be compensated for excessive credit card charges thanks to dogged efforts of 59-year-old Nicholas Wilson (Mr Ethical). Rupert Jones, The Guardian.
- Mar.09.2015: HSBC bosses and BBC Trust chief face MPs over tax revelations. The Guardian.
- Feb.10.2015: Police reasons for not prosecuting HSBC. Nicholas Wilson, Mr Ethical blog.
(The HSBC files revealed organised tax evasion.)
References
- ^ Corporate Political Engagement Index 2018. The new index of 104 multi-national companies, many of whom regularly meet with govt, has found nearly 75% are failing to adequately disclose how they engage with politicians. Only one company received the highest grade, with the average grade being "E" – representing poor standards in transparency. Transparency International UK, Nov.2018.
- ^ Banking on Climate Change: Fossil Fuel Finance Report 2020. The new Report shows financial support for the Fossil Fuel Industry has increased every year since the Paris Agreement was adopted in Dec.2015. Again, the big USA banks dominate; again, JPMorgan Chase leads the pack, with Wells Fargo, Citigroup, and Bank of America close on their heels. These 4 banks alone are responsible for 30% of all fossil fuel financing out of the 35 major global banks since the Paris Agreement was adopted. Rainforest Action Network, Mar.20.2019.