3 ms·

It's my understanding that HSBC is a British bank, has this changed?

• fredoralive 4y ago
  It's complex. It started as the Hongkong and Shanghai Banking Corporation, and was historically based in Hong Kong. During the 1990s it moved its headquarters to London ahead of Hong Kong being returned to China, and amongst other international expansions and acquisitions bought the Midland Bank, which is now the HSBC UK high street bank[1]. It still has a large presence in the far east (and indeed its current strategy is a "pivot" to the east), it's the complexities around its interactions with China that the original post refer to. I suspect the main "political" point of the acquisition, if any, is UK domestic factor that its just done the UK government a big favour by solving the SVB UK issues without the government having to spend any money. No doubt they can remind the government of that fact in the future. [1] SVB UK has specifically been acquired by HSBC UK Bank plc, the ringfenced subsidiary that owns the UK "high street" operation.