HSBC#Money laundering

File:Wardley House Hong Kong.jpg (waterfront), where the bank had leased its first Hong Kong office in 1865]]

File:First Generation of HSBC Building on the Bund.jpg, purchased by HSBC in 1874 and its Shanghai head office until reconstruction in the early 1920s]]

File:香港第一代滙豐總行大廈 德輔道中 皇后大道中 1st Generation of Hong Kong HSBC Building, Des Voeus Road, Queen's Road,1865.png and completed in 1886 on the former Wardley House location]]

File:AL-135 Highfill Album Image (15342031965) (cropped).jpg and creation of Statue Square]]

File:HKBank1890.jpg, photographed in 1890]]

File:Tcitp d123 interior of hongkong and shanghai bank.jpg in 1908]]

After the British established Hong Kong as a crown colony in the aftermath of the First Opium War, merchants from other parts of the British Empire, now in Hong Kong, felt the need for a bank to finance the growing trade, through Hong Kong and sometimes also through Shanghai, between China and India, the rest of the British Empire and Europe, of goods, produces and merchandises of all kinds, but especially opium, cultivated in or transited (re-exported) through the Raj.[http://www.hoovers.com/globaluk/sample/co/history.xhtml?ID=ffffcrksftxxchrftc Profile: HSBC Holdings plc, Hoovers]{{Cite web|url=https://www.grandprix.com/gpe/spon-022.html|title=Latest Formula 1 Breaking News - Grandprix.com|website=www.grandprix.com}}

The founder, Thomas Sutherland of P&O, wanted a bank operating on "sound Scottish banking principles". Still, the original location of the bank was considered crucial and the founders chose Wardley House in Hong Kong since the construction was based on some of the best feng shui in colonial Hong Kong.{{Citation |last = Lim |first = Patricia |year=2002 |title = Discovering Hong Hong's Cultural Heritage |location=Hong Kong |publisher=Oxford University Press|isbn = 0-19-592723-0 }}.

After raising a capital stock of HK$5 million, the bank commenced operations on 3 March 1865. It opened a branch in Shanghai in April of that year and started issuing locally denominated banknotes in both the Crown Colony and Shanghai soon afterwards. The bank was incorporated in Hong Kong as The Hongkong and Shanghai Banking Corporation by the Hongkong and Shanghai Bank Ordinance (Numbers 2 and 5 of 1866),Hoare, Jim. Pares, Susan. A Political And Economic Dictionary of East Asia. Routledge, 2005. {{ISBN|978-1-85743-258-9}} and a branch in Japan was also established in Yokohama in 1866.{{cite web|url=http://www.about.hsbc.co.jp/hsbc-in-japan|title=About HSBC (HSBC in Japan)|access-date=22 June 2015|publisher=The Hongkong and Shanghai Banking Corporation Limited of Hong Kong, Japan Branch (Tokyo)}} Shares of the bank were one of 13 securities initially traded on the Shanghai Stock Exchange, and were traded on that exchange until the Japanese closed the exchange in 1941.{{cite web|url=https://som.yale.edu/faculty-research/our-centers-initiatives/international-center-finance/data/historical-financial-research-data/shanghai-stock-exchange-project|title=Shanghai Stock Exchange Project|date=30 July 2013|access-date=1 July 2018|publisher=Yale School of Management}}

File:9 Gracechurch Street (geograph 2514445).jpg (1913, designed by William Campbell-Jones), replacing leased offices at 31 Lombard Street; maintained by HSBC until relocation to 99 Bishopsgate in 1976,{{cite web |website=Claxity |title=Hongkong and Shanghai Banking Co. |date=15 February 2021 |url=https://claxity.com/hongkong-and-shanghai-banking-co/ }} and later converted into a Club Quarters hotel and Wetherspoons pub]]

File:The Crosse Keys (interior) 20201103 160645 (50563442416).jpg in the Gracechurch Street building, converted as the Crosse Keys pub]]

File:上海外滩汇丰银行大楼2021.jpg, the bank's Shanghai headquarters from 1923 to 1955, photographed in 2021]]

File:HSBC 1936.jpg

Sir Thomas Jackson became chief manager in 1876. During his twenty-six-year tenure, the bank became a leader in Asia. A period of expansion followed, with new buildings constructed in Bangkok (1921), Manila (1922) and Shanghai (1923), and a new head office building in Hong Kong in 1935. Bank note issuance displaced other forms of the era and of the region, such as silver taels, due to political and economic instability. HSBC gained significant influence as a result.{{Cite book |last=Horesh |first=Niv |url=https://www.worldcat.org/oclc/587626534 |title=Shanghai's Bund and beyond : British banks, banknote Issuance, and monetary policy in China, 1842-1937 |date=2009 |publisher=Yale University Press |isbn=978-0-300-14362-1 |location=New Haven |oclc=587626534}}

File:After the Bishopsgate Bomb of 1993 - geograph.org.uk - 653979.jpg, HSBC's main London office from 1976 to 1993 and occupied by the bank until its move to Canary Wharf in 2002-2003]]

File:HK HSBC Main Building 2008.jpg, designed by Norman Foster and completed in 1985 on the same location as the 1886 and 1936 predecessors]]

Michael Turner became chief manager in 1953 and set about diversifying the business. His tenure came to an end in 1962 having established The Hong Kong and Shanghai Banking Corporation of California 1955 and having acquired The British Bank of the Middle East and the Mercantile Bank (based in India) in Aug 1959. Turner was succeeded in 1962 by Jake Saunders. In 1964 the Chief Managership was superseded as the top executive role in the bank by an Executive Chairmanship.{{cite book| first=Maurice| last=Collis| title=Wayfoong: The Hongkong and Shanghai Banking Corporation| publisher=Faber and Faber| location=London| year=1965| oclc=2865302| page=251}}

During the Konfrontasi period in the 1960s, a group of Indonesian forces bombed the MacDonald House building in Singapore (at the time used by HSBC) just a few months after Singapore was granted its independence from Malaysia. Three people were killed, 33 injured, and the two Indonesian military officers responsible for the bombing were tried and executed.{{Cite web|url=https://www.thejakartapost.com/news/2014/02/13/macdonald-house-attack-still-strikes-home-spore.html|title=MacDonald House attack still strikes home in S'pore|website=The Jakarta Post}}

The present building in Hong Kong was designed by Sir Norman Foster and was held as one of the most expensive and technologically advanced buildings in the world in 1986, costing HK$5.3 billion.

File:Striking new offices on the Thames near London Bridge - geograph.org.uk - 2280747.jpg in London, completed in 1989, occupied by Samuel Montagu & Co., then used by HSBC Holdings as global head office from 1993 to relocation to Canary Wharf in 2002–2003; eventually sold by the bank in May 2011{{cite web |website=Evening Standard |title=HSBC loses £22.6m on HQ sale |author=Ben Laurance and Michael Gillard |date=13 April 2012 |url=https://www.standard.co.uk/hp/front/hsbc-loses-ps22-6m-on-hq-sale-6963282.html }}]]

On 6 October 1989, it was registered as a regulated bank with the Banking Commissioner of the Government of Hong Kong.{{cite web|url=http://www.legislation.gov.hk/blis_pdf.nsf/CurAllEngDoc/D8C2D918B6855482482575EE0036EC7E/$FILE/CAP_70_e_b5.pdf|title=The Hongkong and Shanghai Banking Corporation Limited Ordinance (Number 6 of 1929) (Chapter 70, 1950)), amended by L.N. 333 of 1989|access-date=21 June 2015|publisher=Legislative Council of Hong Kong (reproduced and digitalised by the Department of Justice, Government of Hongkong Special Administrative Region)}}

HSBC Holdings plc, originally incorporated in England and Wales,{{cite web|url=https://s3-eu-west-1.amazonaws.com/document-api-images-prod/docs/gvHb4DeBPyq_iHzb5lbTglud6aN_4aZV2pmZ_TifGaY/application-pdf?AWSAccessKeyId=ASIAIMEGSGYVHXMEEJTQ&Expires=1434936728&Signature=ofveDkn7iBiuhsNwIJVrgOVy6HU%3D&x-amz-security-token=AQoDYXdzEJn%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FwEa0APp9I6Xrb12gkHCCrtrtYXkVSFOt5N%2FZwdsgoS%2F6uNxVvbAWz143kGwHMth4qPYupx5lnWmlnGM6yn%2BScZawtTDrIKnMPvWol6PpoIVh93GhmKQgqAPiD2Y7DrtvDH4RcxlwC3N8Bl0Y4VrUU0BPGBWqwyxwpm%2FB3GvHh2I1ze%2F2b5pKy43mGT2J4H2OoZ1A21AI3Jh8SFP7hdFOhcRdM4nuLe%2FUj3arTJlxxe5n5M8i1GwZ7OcfWqG52Xgf0CUI3iYtlkW2N957NMueqyhWmsTPseCzxAaxznFk72GlznDmIb39wbEnM%2F%2F4w%2FIzj8WaJEPgSZnWR3AUTu6B3WoYkcwM8U558XIIxjSzwOZwrGtX0tbbXRN1X8G%2Fc2reUJPLG8mHQANnchvqEsyVUkA2eq%2Fnx5raKDUu9fDMMdUBw%2F10EFLN%2Flkfg9tnTU%2B64L95XA2l2o0Kf6s1l91PzKPbmGbURHB4MXWgXj2jm5neJZf9ncY%2FGon4W2jWYWgkbRfo7PNZE%2BnitOKxgGDpXZHatS7aQF8Pypvtn8K5nrQDxJiC58TYg2yChoO0uU0hBtSbbm%2FSEBDZWsK4fQfXrGjZ64HCe3EWvvqMWmw3yuGOUNIDiCUm52sBQ%3D%3D|title=Memorandum of Association of HSBC Holdings PLC dated the 18th. January 1956 and received on the 1st. January 1959 (as amended by Special Resolutions passed on the 20th. July 1981 and on the 18th. December 1990), Re-registration of Memorandum and Articles, dated the 24. December 1990, and stamped by Companies House on the 21st. December 1998, page 1, note 1|access-date=21 June 2015|publisher=HSBC Holdings PLC (reproduced and digitalised by Companies House)}}{{dead link|date=June 2017}} was a non-trading, dormant shelf company when it completed its transformation on 25 March 1991 into the parent holding company to the Hongkong and Shanghai Banking Corporation Limited now as a subsidiary, in preparation for its purchase of the UK-based Midland Bank and the impending transfer of sovereignty of Hong Kong to China. HSBC Holdings' acquisition of Midland Bank was completed in 1992 and gave HSBC a substantial market presence in the United Kingdom. As part of the takeover conditions for the acquisition of the bank thereof, HSBC Holdings plc was required to relocate its world headquarters from Hong Kong to London in 1993.{{cite web|url=https://qz.com/616791/hong-kong-has-probably-lost-hsbcs-headquarters-for-good-and-beijing-is-to-blame/|title=Hong Kong has probably lost HSBC's headquarters for good—and Beijing is to blame|date=15 February 2016 |access-date=14 April 2017}}

Major acquisitions in South America started with the purchase of the Banco Bamerindus of Brazil for $1 billion in March 1997{{Cite news | url =https://query.nytimes.com/gst/fullpage.html?res=9504E6D9143AF93BA15750C0A961958260 | work=The New York Times | title=HSBC Buys Bamerindus, Brazil Bank, For Billion | date=28 March 1997}} and the acquisition of Roberts SA de Inversiones of Argentina for $600 million in May 1997.{{cite web |url=http://www.ukbusinesspark.co.uk/hsbcaaaa.htm |title=HSBC |publisher=UK Business Park |access-date=18 April 2011 |archive-date=20 December 2013 |archive-url=https://web.archive.org/web/20131220085827/http://www.ukbusinesspark.co.uk/hsbcaaaa.htm |url-status=dead }} In May 1999, HSBC expanded its presence in the United States with the purchase of Republic National Bank of New York for $10.3 billion.{{Cite news | url =https://query.nytimes.com/gst/fullpage.html?res=9A06EFDC153FF932A25756C0A96F958260 | work=The New York Times | title=Bank Group to Buy Republic New York | date=11 May 1999}}

Expansion into Continental Europe took place in April 2000 with the acquisition of Crédit Commercial de France, a large French bank, for £6.6 billion ($8.85 billion).{{Cite news | url =https://www.independent.co.uk/news/business/news/hsbc-leads-the-way-into-euro-zone-with-pound66bn-french-bank-takeover-719601.html | archive-url =https://web.archive.org/web/20091031061852/http://www.independent.co.uk/news/business/news/hsbc-leads-the-way-into-euro-zone-with-pound66bn-french-bank-takeover-719601.html | url-status =dead | archive-date =31 October 2009 | location=London | work=The Independent | first=Andrew | last=Garfield | title=HSBC leads the way into euro zone with £6.6bn French bank takeover | date=3 April 2000}} In July 2001 HSBC bought Demirbank, an insolvent Turkish bank.{{cite news | url =http://news.bbc.co.uk/1/hi/business/1449170.stm |work=BBC News | title=HSBC buys insolvent Turkish bank | date=20 July 2001}} In July 2002, Arthur Andersen announced that HSBC USA, Inc., through a new subsidiary, Wealth and Tax Advisory Services USA Inc. (WTAS), would purchase a portion of Andersen's tax practice. The new HSBC Private Client Services Group would serve the wealth and tax advisory needs of high-net-worth individuals. Then in August 2002 HSBC acquired Grupo Financiero Bital, SA de CV, Mexico's third largest retail bank for $1.1 billion.{{cite news | url =http://news.bbc.co.uk/1/hi/business/2207891.stm |work=BBC News | title=HSBC buys Mexico's biggest retail bank | date=21 August 2002}}

In November 2002, HSBC expanded further in the United States. Under the chairmanship of John Bond, it spent £9 billion (US$15.5 billion) to acquire Household Finance Corporation (HFC), a US credit card issuer and subprime lender.{{Cite news | url =http://news.bbc.co.uk/1/hi/business/2471827.stm |publisher=BBC News | title=HSBC pays £9bn for credit card group | date=14 November 2002}} In a 2003 cover story, The Banker noted "when banking historians look back, they may conclude that [it] was the deal of the first decade of the 21st century".{{cite web|url=http://www.thebanker.com/news/fullstory.php/aid/769/Sir_John_Bond_lays_bare_HSBC%92s_strategy_for_gaining_ground.html |title=Sir John Bond lays bare HSBC's strategy for gaining ground |publisher=Thebanker.com |date=14 April 2011 |access-date=18 April 2011}} Under the new name of HSBC Finance, the division was the second largest subprime lender in the United States.{{cite web|url=http://ftalphaville.ft.com/blog/2009/03/02/53071/the-hsbc-philosophy/|title=HSBC hates subprime|work=ft.com}}

The new headquarters of HSBC Holdings at 8 Canada Square, London officially opened in April 2003.{{cite web |url=http://www.arup.com/_assets/_download/C27CDFAE-FA3D-3093-217B92CB1498B02C.pdf |title=HSBC HQ, Canary Wharf |access-date=18 April 2011 |archive-date=17 May 2013 |archive-url=https://web.archive.org/web/20130517093924/http://www.arup.com/_assets/_download/C27CDFAE-FA3D-3093-217B92CB1498B02C.pdf |url-status=dead }}

In July 2003, HSBC announced that it had agreed to acquire 82.19% of the Korean fund administrator, Asset Management Technology (AM TeK), for $12.47 million in cash; it was the largest fund administrator in South Korea, with $24 billion of assets under administration.{{cite news|url=https://www.asianinvestor.net/article/hsbc-acquires-korea-fund-administrator/30228|title=HSBC acquires Korea fund administrator|publisher=Asian Investor|access-date= 2 July 2003}} In September 2003 HSBC bought Polski Kredyt Bank SA of Poland for $7.8 million.{{Cite news | url =https://query.nytimes.com/gst/fullpage.html?res=9D04E7D7103BF931A2575AC0A9659C8B63 | work=The New York Times | first=Heather | last=Timmons | title=HSBC Gets Approval To Acquire Polish Bank | date=12 September 2003}} In June 2004 HSBC expanded into China buying 19.9% of the Bank of Communications of Shanghai.{{Cite news | url =http://news.bbc.co.uk/1/hi/business/3835585.stm |publisher=BBC News | title=HSBC 'buys stake in Chinese bank' | date=24 June 2004}} In the United Kingdom HSBC acquired Marks & Spencer Retail Financial Services Holdings Ltd for £763 million in December 2004.{{Cite news | url =https://www.independent.co.uk/news/business/news/mamps-faces-oft-inquiry-into-hsbc-deal-545850.html | location=London | work=The Independent | title=M&S faces OFT inquiry into HSBC deal | date=12 September 2004}} Acquisitions in 2005 included Metris Inc, a US credit card issuer for $1.6 billion in August{{cite news|url=https://www.nytimes.com/2005/08/05/business/05card.html |title=HSBC to Acquire Metris for $1.59 Billion in Cash|work=The New York Times|date=5 August 2005|access-date=24 March 2012|first=Eric|last=Dash}} and 70.1% of Dar es Salaam Investment Bank of Iraq in October.{{Cite news | url =http://news.bbc.co.uk/1/hi/business/4302742.stm |publisher=BBC News | title=HSBC closes in on Iraqi bank deal | date=2 October 2005}} In April 2006, HSBC bought the 90 branches in Argentina of Banca Nazionale del Lavoro for $155 million.{{cite web |url=http://www.alacrastore.com/storecontent/Thomson_M%26A/HSBC_Holdings_PLCHSBC_acquires_Banca_Nazionale_del_Lavoro_SA_from_BNP_Paribas_SA-1730119040 |title=HSBC acquires Banca Nazionale del Lavoro SA from BNP Paribas SA |publisher=Alacrastore.com |date=28 April 2006 |access-date=18 April 2011 |archive-date=27 February 2021 |archive-url=https://web.archive.org/web/20210227121535/http://www.alacrastore.com/storecontent/Thomson_M%26A/HSBC_Holdings_PLCHSBC_acquires_Banca_Nazionale_del_Lavoro_SA_from_BNP_Paribas_SA-1730119040 |url-status=dead }} In December 2007 HSBC acquired the Chinese Bank in Taiwan.{{cite news | url =https://www.theguardian.com/business/2007/dec/15/hsbcholdingsbusiness.banking | location=London | work=The Guardian | first=Jill | last=Treanor | title=Taiwan gives HSBC £750m to take on Chinese bank | date=15 December 2007}} In May 2008, HSBC acquired IL&FS Investment, an Indian retail broking firm.{{cite news|url=http://www.thehindu.com/todays-paper/tp-business/HSBC-buys-majority-stake-in-ILampFS-arm/article15224722.ece|title=HSBC buys majority stake in IL&FS arm|date=18 May 2008|newspaper=The Hindu|access-date=14 April 2017}} On August 3, 2008, HSBC began its banking operations in Algeria with the opening of a branch in Algiers.{{Cite web |title=La banque britannique HSBC entre en scène |url=https://algeria-watch.org/?p=16311 |website=algeria-watch}}

In 2005, Bloomberg Markets magazine accused HSBC of money laundering for drug dealers and state sponsors of terrorism. Then-CEO Stephen Green said that "This was a singular and wholly irresponsible attack on the bank's international compliance procedures", but subsequent investigation indicated that it was accurate and proved that the bank was involved in money laundering for the Sinaloa Cartel and throughout Mexico.{{cite web|url=http://www.insightcrime.org/news-briefs/sinaloa-cartel-bought-narco-plane-via-hsbc-bank|title=Sinaloa Cartel Bought Narco Plane Via HSBC Bank|author=Elyssa Pachico|work=insightcrime.org|access-date=15 March 2015}}{{cite news|url=http://uk.reuters.com/article/2012/12/12/uk-hsbc-probe-idUKBRE8BA05K20121212|title=HSBC became bank to drug cartels, pays big for lapses|work=reuters.com|access-date=15 March 2015|date=12 December 2012|archive-date=18 October 2015|archive-url=https://web.archive.org/web/20151018070535/http://uk.reuters.com/article/2012/12/12/uk-hsbc-probe-idUKBRE8BA05K20121212|url-status=dead}}{{cite news| url=https://www.nytimes.com/2013/01/03/opinion/how-bankers-help-drug-traffickers-and-terrorists.html?_r=0 | work=The New York Times | first=Robert | last=Mazur | title=How Bankers Help Drug Traffickers and Terrorists | date=2 January 2013}}{{cite news|url=https://www.bloomberg.com/news/articles/2013-07-02/hsbc-judge-approves-1-9b-drug-money-laundering-accord|title=HSBC Judge Approves $1.9B Drug-Money Laundering Accord|author=Christie Smythe|work=Bloomberg.com|access-date=15 March 2015|date=3 July 2013}}{{cite news|last=Hamilton |first=Jesse |url=https://www.bloomberg.com/news/2012-07-16/hsbc-aided-money-laundering-by-iran-drug-cartels-probe-shows.html |title=HSBC Executive Resigns at Senate Money-Laundering Hearing |publisher=Bloomberg |access-date=19 January 2013}}

In July 2006, HSBC announced that it would acquire Westpac's sub-custody operations in Australia and New Zealand for $112.5 million, making HSBC the leading sub-custody and clearing player in Australia and New Zealand.{{cite news|url=https://www.globalcustodian.com/hsbc-to-pay-up-to-us112-5-million-for-westpac-sub-custody-operations-in-australia-and-new-zealand/|title=HSBC To Pay Up To US$112.5 Million For Westpac Sub-Custody Operations In Australia And New Zealand|publisher=Global Custodian|access-date= 27 July 2006}}

In 2007, HSBC wrote down its holdings of subprime-related mortgage securities by $10.5 billion, becoming the first major bank to report its losses due to the unfolding subprime mortgage crisis.{{cite web|last=Kennedy |first=Simon |url=https://www.marketwatch.com/story/hsbcs-warning-highlights-gloom-for-sub-prime-lenders |title=Sub-prime gloom picks up after HSBC warning |publisher=MarketWatch |date=8 February 2007 |access-date=7 November 2018}}{{cite web|url=http://news.bbc.co.uk/2/hi/business/7096845.stm |title=Business | Timeline: Sub-prime losses |publisher=BBC News |date=19 May 2008 |access-date=7 November 2018}}

According to Bloomberg, "HSBC is one of world's strongest banks by some measures".Jon Menon '[https://www.bloomberg.com/apps/news?pid=newsarchive&sid=aGiiBHDGHLHY HSBC to Raise $17.7 Billion as Subprime Cuts Profit]', Bloomberg L.P., 2 March 2009 When HM Treasury required all UK banks to increase their capital in October 2007, the group transferred £750 million ($1.006 billion) to London within hours, and announced that it had just lent £4 billion ($5.37 billion) to other UK banks.{{Cite news | url =https://www.thetimes.com/article/hsbc-quick-to-comply-with-refinancing-demands-2jzkw65h72q | location=London | work=The Times | first=Christine | last=Seib | title=HSBC quick to comply with refinancing demands | date=10 October 2008}}

In March 2009, HSBC announced that it would shut down the branch network of its HSBC Finance arm in the United States, leading to nearly 6,000 job losses and leaving only the credit card business to continue operating.[http://www.thesunnews.com/business/story/804943.html HSBC bank closes its operations in the U.S.]{{dead link|date=April 2011}}Jon Menon, [https://www.bloomberg.com/apps/news?pid=newsarchive&sid=ajBfkUKrgsZY HSBC Rues Household Deal, Halts U.S. Subprime Lending], Bloomberg L.P. 2 March 2009. Chairman Stephen Green stated, "HSBC has a reputation for telling it as it is. With the benefit of hindsight, this is an acquisition we wish we had not undertaken."Neil Hume, [http://ftalphaville.ft.com/blog/2009/03/02/53079/quote-du-jour-stephen-green/ Quote du jour – Stephen Green], FT Alphaville, 2 March 2009: "HSBC has a reputation for telling it as it is. With the benefit of hindsight, this is an acquisition we wish we had not undertaken." According to analyst Colin Morton, "the takeover was an absolute disaster".[http://www.thesunnews.com/business/story/804943.html HSBC bank closes its operations in the U.S.]{{dead link|date=January 2012}}

In March 2009, it announced that it had made US$9.3 billion of profit in 2008 and announced a £12.5 billion (US$17.7 billion; HK$138 billion) rights issue to enable it to buy other banks that were struggling to survive.Benjamin Scent [http://www.thestandard.com.hk/news_detail.asp?pp_cat=1&art_id=79062&sid=22962897&con_type=1 HSBC seeking to build `war chest'], The Standard, 4 March 2009. However, uncertainty over the rights issue's implications for institutional investors caused volatility in the Hong Kong stock market: on 9 March 2009 HSBC's share price fell 24.14%, with 12 million shares sold in the last few seconds of trading.Benjamin Scent '[http://www.thestandard.com.hk/news_detail.asp?pp_cat=30&art_id=79303&sid=23037200&con_type=3 Plunge probe]' The Standard, 10 March 2009.

On 25 April 2011, HSBC decided to shut down its retail banking business in Russia and reduce its private banking presence to a representative office.{{cite news| url=https://www.reuters.com/article/uk-hsbc-russia-idUKTRE73O11P20110425| title=HSBC to close retail banking business in Russia| date=25 April 2011}}

HSBC announced renaming of its Personal Financial Services (PFS) business group to Retail Banking and Wealth Management (also known as RBWM) on HSBC's 2011 Investor Day.{{cite web |url=http://www.hsbc.com/1/content/assets/investor_relations/strategy_day/2011/110511_strategy_day_overview_transcript.pdf |title=Strategy Day |access-date=21 January 2012 |archive-date=26 May 2012 |archive-url=https://web.archive.org/web/20120526155915/http://www.hsbc.com/1/content/assets/investor_relations/strategy_day/2011/110511_strategy_day_overview_transcript.pdf |url-status=dead }}

On 11 May 2013, the new chief executive Stuart Gulliver announced that HSBC would refocus its business strategy and that a large-scale retrenchment of operations, particularly in respect of the retail sector, was planned. HSBC would no longer seek to be 'the world's local bank', as costs associated with this were spiraling and US$3.5 billion needed to be saved by 2013, with the aim of bringing overheads down from 55% of revenues to 48%. In 2010, then-chairman Stephen Green planned to depart HSBC to accept a government appointment in the Trade Ministry. Group Chief Executive Michael Geoghegan was expected to become the next chairman. However, while many current and former senior employees supported the tradition of promoting the chief executive to chairman, many shareholders instead pushed for an external candidate.{{cite news| url=https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8019235/HSBC-investors-against-Michael-Geoghegan-becoming-chairman.html |archive-url=https://ghostarchive.org/archive/20220111/https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8019235/HSBC-investors-against-Michael-Geoghegan-becoming-chairman.html |archive-date=11 January 2022 |url-access=subscription |url-status=live | location=London | work=The Daily Telegraph | first1=Harry | last1=Wilson | first2=Sean | last2=Farrell | first3=Philip | last3=Aldrick | title=HSBC investors against Michael Geoghegan becoming chairman | date=22 September 2010}}{{cbignore}}{{cite news | url=http://www.news.com.au/business/hsbc-chief-michael-geoghegan-to-quit-after-failing-to-get-top-job/story-e6frfm1i-1225928665163 | work=NewsCore | title=HSBC chief Michael Geoghegan 'to quit' after failing to get top job | date=24 September 2010 | access-date=28 May 2011 | archive-date=4 December 2013 | archive-url=https://web.archive.org/web/20131204195626/http://www.news.com.au/business/hsbc-chief-michael-geoghegan-to-quit-after-failing-to-get-top-job/story-e6frfm1i-1225928665163 | url-status=dead }} HSBC's board of directors had reportedly been split over the succession planning and investors were alarmed that the row would damage the company.{{cite news| url=https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8021673/Douglas-Flint-to-be-HSBC-chairman-Michael-Geoghegan-to-leave-in-radical-reshuffle.html |archive-url=https://ghostarchive.org/archive/20220111/https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8021673/Douglas-Flint-to-be-HSBC-chairman-Michael-Geoghegan-to-leave-in-radical-reshuffle.html |archive-date=11 January 2022 |url-access=subscription |url-status=live | location=London | work=The Daily Telegraph | first=Harry | last=Wilson | title=Douglas Flint to be HSBC chairman, Michael Geoghegan to leave in radical reshuffle | date=23 September 2010}}{{cbignore}}

On 23 September 2010, Geoghegan announced he would step down as chief executive of HSBC.{{cite web |title=Great HSBC reshuffle |date=23 September 2010 |url=http://www.euromoney.com/Article/2676783/Great-HSBC-reshuffle.html}}Euromoney He was succeeded as chief executive by Stuart Gulliver, while Green was succeeded as chairman by Douglas Flint; Flint was serving as HSBC's finance director (chief financial officer). August 2011: Further to CEO Stuart Gulliver's plan to cut $3.5 billion in costs over the next two years, HSBC announced that it will cut 25,000 jobs and exit from 20 countries by 2013 in addition to 5,000 job cuts announced earlier in the year. The consumer banking division of HSBC will focus on the UK, Hong Kong, high-growth markets such as Mexico, Singapore, Turkey, and Brazil, and smaller countries where it has a leading market share.{{cite web |url=http://story.sierraleonetimes.com/index.php/ct/9/cid/3a8a80d6f705f8cc/id/819237/cs/1/ht/HSBC%20significantly%20cutting%20staff%20and%20operations%20to%20save%20money/ |title=HSBC significantly cutting staff and operations to save money |publisher=Story.sierraleonetimes.com |date=1 August 2011 |access-date=21 January 2012 |archive-date=28 March 2012 |archive-url=https://web.archive.org/web/20120328095901/http://story.sierraleonetimes.com/index.php/ct/9/cid/3a8a80d6f705f8cc/id/819237/cs/1/ht/HSBC |url-status=dead }} According to Reuters, Chief Executive Stuart Gulliver told the media, "There will be further job cuts. There will be something like 25,000 roles eliminated between now and the end of 2013."{{cite news| url=https://www.reuters.com/article/us-hsbc/hsbc-sheds-30000-jobs-posts-surprise-profit-rise-idUSTRE7701HH20110801 | work=Reuters | title=HSBC sheds 30,000 jobs, posts surprise profit rise | date=1 August 2011}}

In August 2011 "to align our U.S. business with our global network and meet the local and international needs of domestic and overseas clients", HSBC agreed to sell 195 branches in New York and Connecticut to First Niagara Financial Group Inc, and divestitures to KeyCorp, Community Bank, N.A. and Five Star Bank for around $1 billion, and announced the closure of 13 branches in Connecticut and New Jersey. The rest of HSBC's U.S. network will only be about half from a total 470 branches before divestments.{{cite web|url=http://www.businessweek.com/news/2011-08-01/hsbc-to-sell-195-branches-to-first-niagara-for-1-billion.html |archive-url=https://web.archive.org/web/20121102092434/http://www.businessweek.com/news/2011-08-01/hsbc-to-sell-195-branches-to-first-niagara-for-1-billion.html |url-status=dead |archive-date=2 November 2012 |title=HSBC to Sell 195 Branches to First Niagara for $1 Billion |publisher=Businessweek |date=1 August 2011 |access-date=21 January 2012}} On 9 August 2011, Capital One Financial Corp. agreed to acquire HSBC's U.S. credit card business for $2.6 billion,[http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/08/09/bloomberg1376-LPP3AG6JTSE901-4OVIGDLCAAK4H5OLO3B09ACAL9.DTL Capital One to Buy HSBC Card Unit for $2.6 Billion Premium] HSBC provided a credit line used by Best Buy to lend consumers credit on purchases.{{dead link|date=May 2016|bot=medic}}{{cbignore|bot=medic}} netting HSBC Holdings an estimated after-tax profit of $2.4 billion.{{Cite web|url=http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/08/10/bloomberg1376-LPP3AG6JTSE901-1GG6MR0VTKVI7LOVDL4C30NRLE.DTL|title=HSBC to Reap $2.4 Billion Gain From Sale of U.S. Card Division}} In September it was announced that HSBC sought to sell its general insurance business for around $1 billion.{{cite web|url=http://www.insuranceage.co.uk/insurance-age/news/2108702/hsbc-insurance-sell|title=HSBC in insurance sell-off|date=13 September 2011|publisher=Insurance Age|access-date=14 April 2017}}

In 2012, HSBC was the subject of hearings of the U.S. Senate permanent subcommittee for investigations for severe deficiencies in its anti-money laundering practices (see Controversies). On 16 July the committee presented its findings.{{Cite news | url =https://www.bbc.co.uk/news/business-18880269 |publisher=BBC News | title=HSBC money laundering report: Key findings | date=11 December 2012}}{{cite news|url=http://4closurefraud.org/2012/07/16/us-senate-report-u-s-vulnerabilities-to-money-laundering-drugs-and-terrorist-financing-hsbc-case-history/|title =HSBC Exposed U.S. Financial System to Money Laundering, Drug, Terrorist Financing Risks|date =17 July 2012| work =United States Senate, The Permanent Subcommittee on Investigations|access-date =23 December 2012}}{{cite news|url =http://www.hsgac.senate.gov/subcommittees/investigations/media/hsbc-exposed-us-finacial-system-to-money-laundering-drug-terrorist-financing-risks|title =HSBC Exposed U.S. Financial System to Money Laundering, Drug, Terrorist Financing Risks (press release)|date =16 July 2012|work =United States Senate, The Permanent Subcommittee on Investigations|access-date =22 December 2012|archive-date =16 August 2019|archive-url =https://web.archive.org/web/20190816090938/https://www.hsgac.senate.gov/subcommittees/investigations/media/hsbc-exposed-us-finacial-system-to-money-laundering-drug-terrorist-financing-risks|url-status =dead}} Among other things, it concluded that HSBC had been transferring $7 billion in banknotes from its Mexican to its US subsidiary (much of it related to drug dealing{{cite news |last=Mollenkamp |first=Carrick |url=http://uk.reuters.com/article/2012/12/12/uk-hsbc-probe-idUKBRE8BA05K20121212 |title=HSBC became bank to drug cartels, pays big for lapses |publisher=Reuters |date=12 December 2012 |access-date=14 July 2013 |archive-date=18 October 2015 |archive-url=https://web.archive.org/web/20151018070535/http://uk.reuters.com/article/2012/12/12/uk-hsbc-probe-idUKBRE8BA05K20121212 |url-status=dead }}), was disregarding terrorist financing links and was actively circumventing US safeguards designed to prevent transactions involving terrorists, drug lords and rogue regimes, including hiding $19.4 billion in transactions with Iran. This investigation followed on from a probe by the US Federal Reserve and Office of the Comptroller of the Currency found that there was "significant potential for unreported money laundering or terrorist financing".{{Cite news|url=https://www.theguardian.com/business/2012/jul/11/hsbc-failure-control-money-laundering|title=HSBC chief admits bank failed to control money laundering|first=Dominic|last=Rushe|newspaper=The Guardian |date=11 July 2012|via=www.theguardian.com}}

On 11 December 2012, HSBC agreed to pay a record $1.92 billion fine in this money laundering case. It was reported that bank officials consistently overlooked internal warnings about the inadequacy of HSBC's monitoring systems, according to the Justice Department. For example, in 2008, the CEO of HSBC Mexico was reportedly informed by Mexican law enforcement about a recording of a Mexican drug lord, who indicated that HSBC Mexico was a preferred location for money laundering.{{cite news|url=https://www.reuters.com/article/2012/12/11/us-hsbc-probe-idUSBRE8BA05M20121211|title=HSBC to pay $1.9 billion U.S. fine in money-laundering case|date=11 December 2012|work=Reuters|access-date=11 December 2012|archive-date=12 February 2015|archive-url=https://web.archive.org/web/20150212073829/http://www.reuters.com/article/2012/12/11/us-hsbc-probe-idUSBRE8BA05M20121211|url-status=dead}} The United States Department of Justice, however, decided not to pursue criminal penalties, a decision which the New York Times labelled a "dark day for the rule of law."{{cite news |url=https://www.nytimes.com/2012/12/12/opinion/hsbc-too-big-to-indict.html |title=Too Big to Indict |date=11 December 2012 |work=The New York Times|access-date=12 December 2012}} HSBC chief executive Stuart Gulliver said: "We accept responsibility for our past mistakes. We have said we are profoundly sorry for them, and we do so again."

In July 2013, Alan Keir was appointed chief executive of HSBC Bank plc after Brian Robertson's resignation. Keir's duties include overseeing the firm's UK, European, Middle Eastern, and African divisions.{{cite web| title=HSBC Names Keir Head of HSBC U.K. Bank Unit, Replacing Robertson| first=Gavin| last=Finch| publisher=Bloomberg| url=http://www.ceo.com/flink/?lnk=http%3A%2F%2Fwww.bloomberg.com%2Fnews%2F2013-07-08%2Fhsbc-names-keir-head-of-hsbc-u-k-bank-unit-replacing-robertson.html&id=302849| date=8 July 2013| access-date=12 July 2013| archive-date=21 October 2016| archive-url=https://web.archive.org/web/20161021153219/http://www.ceo.com/flink/?lnk=http%3A%2F%2Fwww.bloomberg.com%2Fnews%2F2013-07-08%2Fhsbc-names-keir-head-of-hsbc-u-k-bank-unit-replacing-robertson.html&id=302849| url-status=dead}}

In June 2014, an indirect wholly-owned subsidiary HSBC Life (UK) Limited agreed to sell its £4.2 billion UK pensions business to Swiss Re.{{Cite news |title=Swiss Re unit acquiring UK pension business of HSBC Life |work=London Mercury |url=http://www.londonmercury.com/index.php/sid/222816607/scat/0f440bf3fff89f01/ht/Swiss-Re-unit-acquiring-UK-pension-business-of-HSBC-Life |url-status=dead |access-date=12 June 2014 |archive-url=https://web.archive.org/web/20140714181011/http://www.londonmercury.com/index.php/sid/222816607/scat/0f440bf3fff89f01/ht/Swiss-Re-unit-acquiring-UK-pension-business-of-HSBC-Life |archive-date=14 July 2014}} In February 2015 the International Consortium of Investigative Journalists released information about the business conduct of HSBC under the title Swiss Leaks based on the 2007 hacked HSBC account records from whistle-blower Hervé Falciani. The ICIJ alleges that the bank profited from doing business with corrupt politicians, dictators, tax evaders, dealers of blood diamonds, arms dealers and other clients.{{Cite web |date=8 February 2015 |title=Swiss Leaks: Murky Cash Sheltered by Bank Secrecy |url=http://www.icij.org/project/swiss-leaks |website=International Consortium of Investigative Journalists}} US Senate investigators in 2012 had sought the hacked HSBC account records from Falciani and French authorities, but never received the data.{{Cite web |last1=Gerard Ryle |last2=Will Fitzgibbon |last3=Mar Cabra |last4=Rigoberto Carvajal |last5=Marina Walker Guevara |last6=Martha M. Hamilton |last7=Tom Stites |date=8 February 2015 |title=Banking Giant HSBC Sheltered Murky Cash Linked to Dictators and Arms Dealers |url=http://www.icij.org/project/swiss-leaks/banking-giant-hsbc-sheltered-murky-cash-linked-dictators-and-arms-dealers}}

HSBC announced in August 2015 that it would be selling its Brazilian unit to Banco Bradesco for $5.2 billion following years of disappointing performance.{{Cite news |date=3 August 2015 |title=HSBC selling unprofitable Brazil unit to Bradesco for $5.2 billion |publisher=Reuters |url=https://www.reuters.com/article/2015/08/03/us-hsbc-bank-brasil-m-a-banco-bradesco-idUSKCN0Q806N20150803 |access-date=1 July 2017 |archive-date=4 August 2015 |archive-url=https://web.archive.org/web/20150804055144/http://www.reuters.com/article/2015/08/03/us-hsbc-bank-brasil-m-a-banco-bradesco-idUSKCN0Q806N20150803 |url-status=dead }} In 2015, HSBC was recognised as the most trusted foreign bank in India by The Brand Trust Report 2015.{{Cite book |last=Chandramouli |title=The Brand Trust Report India Study 2015 |publisher=TRA |year=2015 |isbn=978-81-920823-8-7 |page=108}}

In 2016, the bank was mentioned numerous times in connection with the Panama Papers investigation. Many Syrians were angered when their accounts were judged high-risk and closed, despite the bank reportedly telling Mossack Fonseca it was "comfortable" with Rami Makhlouf as a customer, even though US Treasury sanctions against him were in effect at the time.{{Cite news |last=Tom Rollins |date=7 April 2016 |title=HSBC shuts accounts of Syrians in UK after 'lobbying' for Assad's cousin: #PanamaPapers: Panama Papers show HSBC had links with Rami Makhlouf as Syrian war raged, but then began to close ordinary civilian accounts as 'risks' |work=Middle East Eye |url=http://www.middleeasteye.net/news/syrian-hsbc-accounts-rami-makhlouf-850186773 |access-date=15 May 2016}}

On 20 March 2017, the British newspaper The Guardian reported that hundreds of banks had helped launder KGB-related funds out of Russia, as uncovered by an investigation named Global Laundromat. HSBC was listed among the 17 banks in the UK that were "facing questions over what they knew about the international scheme and why they did not turn away suspicious money transfers," as HSBC "processed $545.3m in Laundromat cash, mostly routed through its Hong Kong branch." Other banks facing scrutiny under the investigation included the Royal Bank of Scotland, NatWest, Lloyds, Barclays and Coutts.[https://www.theguardian.com/world/2017/mar/20/british-banks-handled-vast-sums-of-laundered-russian-money British banks handled vast sums of laundered Russian money in The Guardian] by Luke Harding, Nick Hopkins and Caelainn Barr on 20 March 2017 In response, HSBC stated that it was against financial crime, and that the case "highlights the need for greater information sharing between the public and private sectors."[https://money.cnn.com/2017/03/24/news/russia-money-laundering-global-banks/ Global banks handled laundered Russian cash worth hundreds of millions in CNN] by Ivana Kottasova on 24 March 2017

On 1 October 2017, Mark Tucker succeeded Douglas Flint as group chairman of HSBC, the first non-executive and outside chairman appointed by the group.{{Cite news |last=Lockett |first=Hudson |date=12 March 2017 |title=Mark Tucker wastes no time choosing next HSBC chief |work=Financial Times |url=https://www.ft.com/content/4fee1849-a5de-31de-8084-5feff2b0f1ef |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/4fee1849-a5de-31de-8084-5feff2b0f1ef |archive-date=10 December 2022 |url-access=subscription |access-date=15 October 2017}} Also in October 2017, HSBC announced that John Flint, chief executive of Retail Banking and Wealth Management, would succeed Stuart Gulliver as Group Chief Executive on 21 February 2018.{{Cite web |last= |date=12 October 2017 |title=HSBC appoints John Flint to succeed Stuart Gulliver as Group Chief Executive |url=http://www.hsbc.com/-/media/hsbc-com/investorrelationsassets/stockexchangeannouncements/2017/october/sea-171012-hsbc-ceo-appointment.pdf |access-date=14 October 2017 |website=HSBC |archive-date=15 October 2017 |archive-url=https://web.archive.org/web/20171015044433/http://www.hsbc.com/-/media/hsbc-com/investorrelationsassets/stockexchangeannouncements/2017/october/sea-171012-hsbc-ceo-appointment.pdf |url-status=dead }} It was further announced on 5 August 2019 that Flint was leaving and his role would be filled on a temporary basis by Noel Quinn, head of HSBC's global commercial bank.{{Cite journal |last=Makortoff |first=Kalyeena |date=5 August 2019 |title=HSBC boss John Flint resigns 'by mutual agreement' |url=https://www.theguardian.com/business/2019/aug/05/hsbc-boss-john-flint-resigns-by-mutual-agreement |journal=The Guardian |location=London |access-date=20 August 2019}} Noel Quinn was subsequently appointed to the role on a permanent basis in March 2020.{{Cite news |title=HSBC appoints Noel Quinn permanent chief executive |url=https://www.ft.com/content/ca4010d0-6879-11ea-800d-da70cff6e4d3 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/ca4010d0-6879-11ea-800d-da70cff6e4d3 |archive-date=10 December 2022 |url-access=subscription |access-date=14 June 2020 |newspaper=Financial Times|date=17 March 2020 }}

In February 2020, HSBC announced it would cut 35,000 jobs worldwide after it was announced corporate profits decreased by 33% in 2019.{{Cite journal |last=Makortoff |first=Kalyeena |date=18 February 2020 |title=HSBC to cut 35,000 jobs worldwide as profits plunge |url=https://www.theguardian.com/business/2020/feb/18/hsbc-to-cut-35000-jobs-worldwide-as-profits-plunge-coronavirus |journal=The Guardian |access-date=18 February 2020}}

In 2020, HSBC announced merging two of its business lines: Retail Banking and Wealth Management & Global Private Banking to form a new business unit as Wealth and Personal Banking.{{cite web|url=https://fundselectorasia.com/restructuring-hsbc-merges-wm-clients/ |title=Restructuring HSBC merges WM clients |date=2 March 2020 |access-date=2 March 2020}}

In October 2020, HSBC committed to achieve zero-emission by 2050, e.g., by this year it would not only become carbon neutral by itself but also will work only with carbon-neutral clients. It also committed to providing 750–1,000 billion dollars to help clients make the transition. It also pledged to achieve carbon neutrality in his own operations by 2030.{{Cite news |last1=White |first1=Lawrence |last2=Cruise |first2=Sinead |last3=Jessop |first3=Simon |date=9 October 2020 |title=CORRECTED-EXCLUSIVE-HSBC targets net-zero emissions by 2050, earmarks $1 trln green financing |work=Reuters |url=https://www.reuters.com/article/hsbc-hldg-climatechange/exclusive-hsbc-targets-net-zero-emissions-by-2050-earmarks-1-trln-green-financing-idINL8N2GZ31Q |access-date=12 October 2020}}

In January 2021, HSBC announced that it would be closing 82 branches in Britain.{{Cite news|last=White|first=Iain Withers, Lawrence|date=20 January 2021|title=HSBC to axe up to 340 management jobs in UK branch shake-up - source|language=en|work=Reuters|url=https://www.reuters.com/article/uk-hsbc-branches-job-losses-idUSKBN29P1Q2|access-date=20 January 2021}} In May 2021, HSBC announced the exit of US retail banking business by selling 10 California branches to Cathay Bank and 80 branches to Citizens Financial Group and closing the remaining branches.[https://www.wsj.com/articles/hsbc-to-exit-u-s-retail-banking-11622077164 HSBC to Exit Most U.S. Retail Banking] Wall Street Journal 27 May 2021 The bank said it intends to focus on the banking and wealth management needs of globally connected affluent and high net worth clients.{{Cite news|date=23 February 2021|title=HSBC shifts focus from west to east as profits dive|language=en-GB|work=BBC News|url=https://www.bbc.com/news/business-56150430|access-date=24 February 2021}}

In May 2021, HSBC committed to end the financing of the coal industry, with a commitment to publish a new coal policy and provide further detail on its climate strategy by the end of 2021.ShareAction, [https://shareaction.org/hsbc-sends-shockwaves-as-it-commits-to-end-coal-financing/ HSBC sends shockwaves as it commits to end coal financing], published 11 March 2021, accessed 22 July 2021 The organisation's "Thermal Coal Phase-Out Policy" was published in December 2021.HSBC, [https://www.hsbc.com/-/files/hsbc/our-approach/risk-and-responsibility/pdfs/211214-hsbc-thermal-coal-phase-out-policy.pdf HSBC Thermal Coal Phase-Out Policy], accessed 28 December 2021 The company broke its coal pledge in 2023 when it helped raise $1 billion for Glencore, a mining giant that had ramped up coal production.{{Cite web |title=HSBC breaks climate pledge with billion-dollar Glencore deal |url=https://www.thebureauinvestigates.com/stories/2025-05-01/hsbc-investors-rage-after-bank-bulldozes-its-coal-policy-with-glencore-deal |access-date=2025-05-04 |website=TBIJ |language=en}}

In August 2021, HSBC announced the acquisition of AXA Singapore. HSBC Insurance (Asia-Pacific) Holdings Ltd, an indirect wholly-owned subsidiary of HSBC would acquire 100% of the issued share capital of AXA Singapore for $575m.{{cite news|url=https://www.bloomberg.com/news/articles/2021-08-16/hsbc-buys-axa-singapore-for-575-million-to-grow-in-asia-wealth|title=HSBC buys AXA Singapore for $575 million to grow in asia wealth|newspaper=Bloomberg.com |date=16 August 2021 |publisher=Bloomberg|access-date=30 January 2022}} In December 2021, HSBC Asset Management (India) Private Ltd, an indirect wholly-owned subsidiary of HSBC announced it would acquire L&T Investment Management for $425 million from L&T Finance Holdings.{{cite news|url=https://www.bloomberg.com/news/articles/2021-12-23/hsbc-to-buy-india-s-l-t-investment-management-for-425-million|title=HSBC to buy India's L&T Investment Management for $425-million|publisher=Bloomberg|access-date=30 January 2022}}

In June 2022, HSBC announced its intention to sell its business in Russia. This requires approval from the Russian government, and the deal is expected to close in the first half of 2024. The projected loss is $300 million. A possible buyer is the Russian Expobank.{{Cite web|url=https://www.banki.ru/news/lenta/?id=10994532|title=Британский HSBC сообщил, когда планирует окончательно уйти с российского рынка|language=ru|date=30 October 2023|website=Banki.ru}} In February 2024, the President of Russia allowed HSBC and Expobank to carry out this transaction.{{Cite web|url=https://www.reuters.com/business/finance/putin-signs-decree-allowing-hsbc-sell-russian-unit-expobank-2024-02-19/|title=Putin grants HSBC approval to sell Russian unit to Expobank|date=19 February 2024|website=Reuters}}

In July 2022, HSBC became the first foreign lender to open a Chinese Communist Party (CCP) committee in its Chinese investment banking subsidiary.{{Cite news |date=21 July 2022 |title=HSBC installs Communist party committee in Chinese investment bank |work=Financial Times |url=https://www.ft.com/content/eac99fd9-0c30-4141-821a-45348f61c113 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/eac99fd9-0c30-4141-821a-45348f61c113 |archive-date=10 December 2022 |url-access=subscription |url-status=live |access-date=22 July 2022}} The subsidiary, HSBC Qianhai Securities, is a 90% HSBC-owned joint venture.

In November 2022, HSBC announced its intention to exit the Canadian market. Royal Bank of Canada would acquire 100% of the common shares of HSBC Canada for an all-cash purchase price of $13.5 billion, 9.4 times HSBC Canada's estimated 2024 earnings. Completion of the transaction is expected by late 2023, subject to regulatory approvals.{{Cite web |last=Canada |first=Royal Bank of |title=RBC to strengthen premium Canadian business with agreement to acquire HSBC Canada |url=https://www.newswire.ca/news-releases/rbc-to-strengthen-premium-canadian-business-with-agreement-to-acquire-hsbc-canada-893378623.html |access-date=29 November 2022 |website=www.newswire.ca |language=en}} HSBC has been under pressure to cut costs and divest non-Asian businesses.{{Cite news |last=Li |first=Selena |date=4 November 2022 |title=HSBC top shareholder Ping An urges aggressive cost cuts, renews spin-off push |language=en |work=Reuters |url=https://www.reuters.com/business/finance/shareholder-ping-an-asks-hsbc-aggressive-cost-cuts-amid-breakup-push-ft-2022-11-04/ |access-date=29 November 2022}}

In February 2023, HSBC announced that its profits for the last quarter of 2022 had almost doubled compared to those at the same time the previous year. However, its pre-tax profit actually fell because it absorbed the cost of selling its French retail banking operations.{{cite news|url=https://www.bbc.com/news/business-64713967 | title=Banking giant HSBC sees quarterly profit almost double | date=21 February 2023 | publisher=BBC News |access-date=21 February 2023}} The bank also announced that they were closing 114 branches in the United Kingdom. The move came as more people were using online banking since the pandemic, reducing the need for physical branches. The move has been criticized by Unite.{{Cite news |date=30 November 2022 |title=HSBC to close 114 UK branches as more people bank online |language=en-GB |work=BBC News |url=https://www.bbc.com/news/business-63796745 |access-date=21 February 2023}}

As interest rates increased globally in May 2023, HSBC Holdings reported a 212% increase in quarterly profit.{{cite web |date=2 May 2023 |title=HSBC profit triples on higher rates, beats expectations|url=https://www.brecorder.com/news/40239864/hsbc-profit-triples-on-higher-rates-beats-expectations}}

In May 2023, HSBC defeated a proposal, backed by its largest stakeholder Chinese insurer Ping An, to consider spinning off its Asia business into a Hong Kong-listed entity.{{Cite news |date=5 May 2023 |title=HSBC Investors Reject Special Resolutions on Dividends, Strategy |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2023-05-05/hsbc-investors-reject-special-resolutions-on-dividends-strategy |access-date=5 May 2023}}

In December 2023, HSBC Asset Management announced they would be acquiring the Singapore Based Investment manager, Silkroad Property Partners. The proposed acquisition includes Singapore-based SilkRoad Property Partners Pte Ltd, along with its subsidiaries in Hong Kong, Shanghai and Tokyo, and the five general partner entities associated with its active funds. Terms of the agreement were not disclosed. The deal would expand HSBC's real estate fund management capabilities in the region by bringing on board a business with an estimated $2 billion in assets under management, primarily in value-add strategies, as well as a senior team with experience executing deals in the region's major cities.{{cite web |date=12 December 2023 |title=HSBC AM Buying Singapore's Silkroad to build real estate deal team |url=https://www.mingtiandi.com/real-estate/finance/hsbc-am-buying-singapores-silkroad-property-partners/}}{{cite web |date=13 December 2023 |title=HSBC looks to mergers to expand footprint, serve wealthy customers in Asia, bank chief says |url=https://www.scmp.com/business/article/3244899/hsbc-may-buy-assets-sell-unprofitable-units-expand-its-footprint-and-sharpen-its-focus-serving}}

HSBC announced, in December 2023, that it intended to move its head office from 8 Canada Square to 81 Newgate Street when the lease on the former building expires in 2027.{{cite news|url=https://www.costar.com/article/1318159520/hsbc-exchanges-on-556000-square-foot-london-headquarters-lease|title=HSBC Exchanges on 556,000-Square-Foot London Headquarters Lease|newspaper=Costar|date=14 November 2023|access-date=19 October 2024}}

In 2024, HSBC, as part of the Hong Kong Association of Banks, began developing a roadmap to phase out cheques in the city and switch to electronic payments.

According to Hong Kong Interbank Clearing Limited, cheque transactions in Hong Kong fell to HK$488.6 billion (US$62.5 billion) in December, down 13 percent year-on-year.{{Cite web|language=en|url=https://www.scmp.com/business/banking-finance/article/3249076/cheques-end-nigh-hong-kongs-banks-set-road-map-phase-out-paper-payment-their-embrace-e-payments|title=The cheque's end is nigh: Hong Kong's banks set road map to phase out paper payment in their embrace of e-payments|website=South China Morning Post|date=22 January 2024 |access-date=7 February 2024|archive-date=7 February 2024|archive-url=https://web.archive.org/web/20240207144640/https://www.scmp.com/business/banking-finance/article/3249076/cheques-end-nigh-hong-kongs-banks-set-road-map-phase-out-paper-payment-their-embrace-e-payments}}

In 2024, HSBC announced an international payments app, Zing, a competitor to Revolut and Wise apps. It will also focus on retail customers and low-cost currency exchange.{{Cite web|language=en|url=https://www.scmp.com/business/banking-finance/article/3246984/hsbc-takes-revolut-wise-new-forex-app-non-customers|title=HSBC takes on Revolut, Wise with new forex app for non-customers|website=South China Morning Post|date=2 January 2024 |access-date=7 February 2024|archive-date=1 February 2024|archive-url=https://web.archive.org/web/20240201110238/https://www.scmp.com/business/banking-finance/article/3246984/hsbc-takes-revolut-wise-new-forex-app-non-customers}} In January 2025, HSBC decided to shut down the app only one year after its launch, as part of a cost-cutting drive.{{cite news |last1=Quinio |first1=Akila |title=HSBC shuts payments app Zing a year after launch |url=https://www.ft.com/content/b184d9f9-eacb-4f70-b85d-b87ea4bcc694 |access-date=23 January 2025 |work=Financial Times |date=23 January 2025}}

In 2024, HSBC Philippines launched "Omni Collect" to allow companies to connect to HSBC's single API to offer and manage payments across multiple channels. "It supports multiple online and offline payment options for customers and delivers transaction data through HSBC’s global digital platform, HSBCnet," the bank Head Art Tanseco said.{{cite news |last1= |first1= |title=HSBC rolls out payment solution in Philippines|url= https://www.bworldonline.com/banking-finance/2024/03/05/579373/hsbc-rolls-out-payment-solution-in-philippines/|access-date=7 March 2024 |publisher=Businessworld |date=5 March 2024}}

On 9 April 2024, HSBC announced the sale of its Argentina business to Galicia for $550 million. HSBC said that the deal awaited government approval but was expected to be finalized by the year-end.{{cite news |last1= |first1= |title=HSBC's $550 Million Argentina Business Sale to Galicia: A Strategic Move|url= https://www.reuters.com/markets/deals/hsbc-sell-argentina-business-galicia-550-mln-deal-2024-04-09/|access-date= 6 April 2024 |publisher=Reuters |date= 9 April 2024}} HSBC was also approved to exit its Armenia holdings by the central bank in a sale to Ardshinbank on 27 August.{{cite news|url=https://www.azatutyun.am/a/33094421.html|title=HSBC Cleared To Sell Armenian Subsidiary|date=27 August 2024|newspaper=Azatutyun|access-date=28 August 2024}}

In January 2025, HSBC announced the closure of some of its investment banking units in Europe, UK and US as part of the ongoing restructuring effort by its CEO Georges Elhedery,{{cite news |last1=Wilson |first1=Harry |title=HSBC to Shutter Some Investment Banking Units in Europe, US |url=https://www.bloomberg.com/news/articles/2025-01-28/hsbc-to-shutter-some-investment-banking-units-in-europe-us?srnd=homepage-asia |access-date=29 January 2025 |work=Bloomberg.com |date=28 January 2025 |language=en}} followed by a new round of investment bank job cuts.{{cite news |title=HSBC Plans New Round of Investment Bank Job Cuts Next Week |url=https://www.bloomberg.com/news/articles/2025-02-14/hsbc-plans-new-round-of-investment-bank-job-cuts-next-week?srnd=homepage-asia |access-date=14 February 2025 |agency=Bloomberg |date=14 February 2025}} These significant revamps were expected to bring $1.8 billion cost savings by the end of 2026.{{cite news |last1=Li |first1=Selena |last2=Chatterjee |first2=Sumeet |title=HSBC eyes $1.8 billion in cost cuts by 2026 as new CEO looks to boost returns |url=https://www.reuters.com/business/finance/hsbc-books-66-rise-annual-profit-beats-estimates-2025-02-19/ |access-date=19 February 2025 |work=Reuters |date=19 February 2025}}

In May 2025, HSBC announced that chair Mark Tucker would retire by the end of 2025 after an eight-year stint at the bank.{{Cite web |last=Norman |first=Samuel |date=2025-05-01 |title=HSBC on hunt for new chair as Mark Tucker to retire by year-end |url=https://www.cityam.com/hsbc-on-hunt-for-new-chair-as-mark-tucker-to-retire-by-year-end/ |access-date=2025-05-02 |website=City AM |language=en-GB}}

File:Pudong, Shanghai, China - panoramio (33).jpg in the north tower of Shanghai IFC (right)]]

File:Olympian City HSBC Centre.jpg]]

File:Bur Dubai HSBC bank. Al Souqe Al Kabeer - Dubai - United Arab Emirates - panoramio.jpg]]

File:Beirut Skyline 1.jpg (right)]]

File:Paris Kleber HSBC.jpg, head office of HSBC Continental Europe]]

File:One Centenary Square.jpg in Birmingham, head office of HSBC UK since 2018]]

File:En Angel y el edificio HSBC - panoramio.jpg facing the Angel of Independence]]

File:HSBC Building Vancouver 2015.jpg in Vancouver]]

File:HSBC Tower (cropped).jpg, New Zealand]]

HSBC has its world headquarters at 8 Canada Square in Canary Wharf, London."[http://www.hsbc.com/1/2/contact-us Contact us]." HSBC. Retrieved on 12 September 2011. "Global HSBC Group Head OfficeHSBC Group Head Office – London Address: HSBC Holdings plc 8 Canada Square London E14 5HQ" In June 2023, the bank announced its intentions to exit this building when its lease expires in 2027, stating their intention to move to a building in the City of London near St Paul's Cathedral.{{Cite news |last=Withers |first=Iain |date=26 June 2023 |title=HSBC to ditch Canary Wharf tower in favour of central London -memo |language=en |work=Reuters |url=https://www.reuters.com/business/finance/hsbc-ditch-canary-wharf-tower-favour-central-london-memo-2023-06-26/ |access-date=26 June 2023}}

HSBC's U.S. headquarters is located at The Spiral in Hudson Yards, a neighbourhood in Manhattan.{{Cite web |last=Morris |first=Sebastian |date=2022-05-05 |title=HSBC Relocates US Headquarters to The Spiral at 66 Hudson Boulevard in Hudson Yards, Manhattan |url=https://newyorkyimby.com/2022/05/hsbc-relocates-us-headquarters-to-the-spiral-at-66-hudson-boulevard-in-hudson-yards-manhattan.html |access-date=2025-03-19 |website=New York YIMBY |language=en-US}}{{Cite web |title=Inside HSBC's Sustainable HQ In Manhattan's Hudson Yards |url=https://interiordesign.net/projects/hsbc-hq-m-moser-associates-new-york/ |access-date=2025-03-19 |website=Interior Design |language=en-US}} Designed by M Moser Associates, it is a 260,000-square-foot, zero-carbon office space.{{Cite web |date=2024-10-14 |title=HSBC's Groundbreaking Zero Carbon Headquarters: A New Sustainable Workplace Design by M Moser Associates {{!}} Design Insider |url=https://www.designinsiderlive.com/hsbcs-groundbreaking-zero-carbon-headquarters-a-new-sustainable-workplace-design-by-m-moser-associates/ |access-date=2025-03-19 |website=www.designinsiderlive.com |language=en-US}}{{Cite web |last=Searer |first=Stephen |date=2024-11-18 |title=HSBC Headquarters - New York City |url=https://officesnapshots.com/2024/11/18/hsbc-headquarters-new-york-city/ |access-date=2025-03-19 |website=Office Snapshots}}

• As of 2014, according to Relsbank, HSBC was the fourth-largest bank in the world by assets (with $2,670.00  billion), the second largest in terms of revenues (with $146.50 billion) and the largest in terms of market value (with $180.81 billion).Relsbank
• It was also the most profitable bank in the world with $19.13 billion in net income in 2007 (compared to Citigroup's $3.62 billion and Bank of America's $14.98 billion in the same period).[https://www.forbes.com/lists/2008/18/biz_2000global08_The-Global-2000_Rank.html "The Global 2000"] Forbes, 2 April 2008
• In June 2006, The Economist stated that since the end of 2005 HSBC has been rated the largest banking group in the world by Tier 1 capital.{{cite news|url=http://www.economist.com/markets/indicators/displaystory.cfm?story_id=7141354 |title=The world's biggest banks |newspaper=The Economist |date=6 July 2006 |access-date=18 April 2011}} In June 2014 The Banker ranked HSBC first in Western Europe and 5th in the world for Tier 1 capital.{{Cite news|url=http://www.thebanker.com/Top-1000-World-Banks/Western-European-banks-mount-a-comeback |archive-url=https://web.archive.org/web/20160320172442/http://www.thebanker.com/Top-1000/Top-1000-World-Banks-Western-European-banks-mount-a-comeback?ct=true|archive-date=20 March 2016|title=Top 1000 World Banks 2014 – Western European banks mount a comeback |work=The Banker |date=30 June 2014 |access-date=29 November 2022}}
• In February 2008, HSBC was named the world's most valuable banking brand by The Banker magazine.[http://www.thebanker.com/news/fullstory.php/aid/5640/HOT_BRANDS.html "Hot Brands"] The Banker, 4 March 2008[http://www.hsbc.com/1/2/investor-relations/ir-fast-facts Fast Facts] {{Webarchive|url=https://web.archive.org/web/20090403024127/http://www.hsbc.com/1/2/investor-relations/ir-fast-facts |date=3 April 2009 }} HSBC Website, 4 April 2008
• HSBC has been audited by PwC, one of the Big Four auditors since 2015.{{cite news|url=https://www.independent.co.uk/news/business/news/hsbc-awards-markets-top-audit-to-pricewaterhousecoopers-8744568.html |title=HSBC awards market's top audit to PricewaterhouseCoopers; | location=London | work=The Independent |first=Nick |last=Goodway |date=3 August 2013}}
• Despite being domiciled in the UK, HSBC generates around two-thirds of its profits in Asia, with China contributing 44% of the bank's profit in 2022.{{Cite news |date=4 May 2022 |title=Why Chinese insurer Ping An is calling for a break-up of HSBC |work=Financial Times |url=https://www.ft.com/content/d38fbe3d-d093-4ffa-a340-fb4b90cd342f#comments-anchor |access-date=16 May 2023}}{{Cite web |last=Standard |first=The |title=HSBC reaches deal to buy out China fund partner: sources |url=https://www.thestandard.com.hk/breaking-news/section/2/203530/HSBC-reaches-deal-to-buy-out-China-fund-partner:-sources |access-date=16 May 2023 |website=The Standard |language=en}}

File:HSBC Building at Beach Street in George Town, Penang.jpg in George Town, Penang, Malaysia]]

HSBC organises its customer-facing activities within three business groups: Commercial Banking (CMB); Global Banking and Markets (GBM); Wealth and Personal Banking (WPB).{{cite web|url=http://www.hsbc.com/1/2/about|title=About HSBC|access-date=7 March 2011|publisher=HSBC Holdings plc|archive-url=https://web.archive.org/web/20110309032829/http://www.hsbc.com/1/2/about|archive-date=9 March 2011|url-status=dead}}

Commercial Banking group has more than 2 million commercial banking customers, including sole proprietors, partnerships, clubs and associations, incorporated businesses and publicly quoted companies.{{cite web|url=http://www.hsbc.com/about-hsbc/structure-and-network/commercial-banking|title=Commercial Banking|publisher=HSBC|access-date=14 April 2017}}

Wealth and Personal Banking group helps customers to take care of their day-to-day finances and to manage, protect and grow their wealth. HSBC provides more than 54 million such customers.{{cite web|url=http://www.hsbc.com/~/media/HSBC-com/InvestorRelationsAssets/annual-results/pdfs/hsbc2012ar0.ashx |title=HSBC Annual Review 2012 |format=PDF |access-date=3 April 2013}} It is focused on three operational divisions: Wealth Management, Global Asset Management, and Global Private Banking.{{cite web|url=https://www.hsbc.com/careers/our-business-areas-and-teams/wealth-and-personal-banking|title=Wealth and personal banking|publisher=HSBC|access-date=5 September 2024}}

Retail Banking and Wealth Management (also known as RBWM) was previously referred to as Personal Financial Services (PFS). This rename was announced during HSBC's 2011 Investor Day.{{cite web |url=http://www.hsbc.com/1/content/assets/investor_relations/strategy_day/2011/110511_strategy_day_overview_transcript.pdf |title=Strategy Day |access-date=21 January 2012 |archive-date=26 May 2012 |archive-url=https://web.archive.org/web/20120526155915/http://www.hsbc.com/1/content/assets/investor_relations/strategy_day/2011/110511_strategy_day_overview_transcript.pdf |url-status=dead }} In 2020, HSBC announced merging two of its business lines: Retail Banking and Wealth Management & Global Private Banking to form a new business unit as Wealth and Personal Banking.{{cite web|url=https://fundselectorasia.com/restructuring-hsbc-merges-wm-clients/ |title=Restructuring HSBC merges WM clients |date=2 March 2020 |access-date=2 March 2020}}

File:HSBC-Bangalore-Bannerghatta-Road.jpg, India]]

File:HSBC Group Service Center, Rajagiriya.jpg, Sri Lanka]]

COO Alan Jebson said in March 2005 that he would be very surprised if fewer than 25,000 people were working in the centers over the next three years: "I don't have a precise target but I would be surprised if we had less than 15 (global service centers) in three years' time." He went on to say that each centre cost the bank from $20m to $30m to set up, but that for every job moved the bank saves about $20,000 (£10,400).{{Cite news | url =http://news.bbc.co.uk/2/hi/business/4353423.stm |publisher=BBC News | title=HSBC bank 'to offshore more jobs' | date=16 March 2005}} Trades unions, particularly in the UK and US, blame these centers for job losses and also for the effective imposition of wage caps on their members.

File:HSBC BGC.JPG, Philippines]]

File:HSBC Colombo.jpg]]

These are HSBC's subsidiaries worldwide:{{cite web | url=https://www.hsbc.com/who-we-are/our-markets | title=Our markets - Connecting customers to opportunities worldwide}}

{{div-col}}

;Africa

• HSBC Mauritius (Only commercial banking)
• HSBC South Africa (Only commercial banking)

;Asia-Pacific

• HSBC (Hong Kong)
• Hang Seng Bank
• Hang Seng Bank (China)
• HSBC Bank Australia
• HSBC Bangladesh
• HSBC China
• HSBC Bank India
• HSBC Bank Indonesia
• HSBC Japan (Only commercial banking) (HSBC withdrew consumer retail banking from Japan in 2012)
• HSBC Korea (Only commercial banking) (HSBC withdrew consumer retail banking from South Korea in 2013)
• HSBC Bank Macau
• HSBC Bank Malaysia
• HSBC Maldives (Only commercial banking) (HSBC withdrew consumer retail banking from Maldives in 2016)
• HSBC New Zealand (Only commercial banking) (HSBC withdrew consumer retail banking from New Zealand in 2024)
• HSBC Bank Philippines
• HSBC Bank Singapore
• HSBC Sri Lanka
• HSBC Taiwan
• HSBC Thailand (Only commercial banking) (HSBC withdrew consumer retail banking from Thailand in 2012)
• HSBC Bank Vietnam

;Europe

• HSBC Austria (Only Asset Management)
• HSBC Channel Islands and Isle of Man
• HSBC Continental Europe (Only commercial banking). Formed by:
• HSBC Continental Europe, Belgium
• HSBC Continental Europe, Czech Republic
• HSBC Continental Europe, France
• HSBC Continental Europe, Germany
• HSBC Continental Europe, Ireland
• HSBC Continental Europe, Italy
• HSBC Continental Europe, Luxembourg
• HSBC Continental Europe, Netherlands
• HSBC Continental Europe, Poland
• HSBC Continental Europe, Spain
• HSBC Continental Europe, Sweden
• HSBC Denmark (Only Asset Management)
• HSBC Finland (Only Asset Management)
• HSBC Greece (Only Asset Management) (HSBC withdrew consumer retail banking from Greece in 2023)
• HSBC Bank Malta
• HSBC Norway (Only Asset Management)
• HSBC Portugal (Only Asset Management)
• HSBC Switzerland
• HSBC UK Bank plc

;The Americas

• HSBC Bank Bermuda
• HSBC Brazil (Only commercial banking) (HSBC withdrew consumer retail banking from Brazil in 2016)
• HSBC Institutional Trust Services (British Virgin Islands)
• HSBC Cayman Services (Cayman Islands) (HSBC withdrew consumer retail banking from the Cayman Islands in 2014)
• HSBC Bank Chile (Only commercial banking)
• HSBC Colombia (HSBC withdrew consumer retail banking from Colombia in 2012)
• HSBC Peru (HSBC withdrew consumer retail banking from Peru in 2012)
• HSBC México
• HSBC Uruguay
• HSBC Bank USA
• HSBC Securities (USA) Inc.

;Middle East

• HSBC Bank Egypt
• HSBC Israel (Only commercial banking)
• HSBC Lebanon (Only commercial banking) (HSBC withdrew consumer retail banking from Lebanon in 2016)
• HSBC Bank Middle East. Formed by:
• HSBC Bank Middle East Limited Algeria Branch (Only commercial banking)
• HSBC Bank Middle East Limited Bahrain Branch
• HSBC Bank Middle East Limited Kuwait Branch (Only commercial banking)
• HSBC Bank Middle East Limited Oman Branch (Only commercial banking) (HSBC withdrew consumer retail banking from Oman in 2023)
• HSBC Bank Middle East Limited Qatar Branch
• HSBC Bank Middle East Limited UAE Branch
• Saudi Awwal Bank
• HSBC Saudi Arabia
• HSBC Bank (Turkey)

{{div-col-end}}

{{div-col}}

• HSBC Finance is the non-banking financial services arm that focuses on credit card networking and consumer finance.
• HSBC Insurance (Asia Pacific) is the insurance arm.
• HSBC Private Bank is the private banking arm.
• HSBC Expat is the offshore banking arm that focuses on providing finance and cross border services to expatriates and migrants.{{cite web|url=http://offshore.hsbc.com/1/2/home|title=HSBC Bank International Limited|access-date=18 April 2011|archive-date=27 November 2011|archive-url=https://web.archive.org/web/20111127000835/http://www.offshore.hsbc.com/1/2/home|url-status=dead}}

{{div-col-end}}

HSBC ceased retail banking operations in Thailand and Japan in 2012, South Korea in 2013, Brazil and Maldives in 2016, Oman in 2023, and New Zealand, Mauritius and France in 2024.{{Cite web|url=https://www.retailbankerinternational.com/news/hsbc-completes-sale-of-french-retail-unit/|title=HSBC completes sale of French retail unit|first=Douglas|last=Blakey|date=2 January 2024}}{{Cite news|url=https://www.ft.com/content/d38329ac-6c1a-11e1-8c9d-00144feab49a |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/d38329ac-6c1a-11e1-8c9d-00144feab49a |archive-date=10 December 2022 |url-access=subscription|title=HSBC to scale back Asian operations|last=Davies|first=Paul J|newspaper=Financial Times|language=en-GB|date=13 March 2012|access-date=22 September 2019}}{{Cite web|url=https://www.zawya.com/en/business/banking-and-insurance/hsbc-oman-merger-with-sohar-international-complete-q5dhybq8|title=HSBC Oman merger with Sohar International complete|website=www.zawya.com}}{{Cite web|url=https://www.hsbc.co.nz/wind-down/|title=Latest updates on the wind down of our deposit business}}{{Cite web|url=https://www.hsbc.co.mu/announcements/sale-of-wpb/|title=Sale of HSBC wealth, personal and business banking to Absa Mauritius - HSBC Mauritius|website=www.hsbc.co.mu}}

HSBC sold its businesses in Costa Rica, El Salvador, Honduras, Colombia, Peru, Uruguay, Paraguay and Hungary in 2012,{{Cite web|url=https://bbj.hu/budapest/culture/history/hsbc-holdings-to-sell-94-of-hungarian-consumer-finance-portfolio30900/|title=HSBC Holdings to sell 94% of Hungarian consumer finance portfolio - Budapest Business Journal|date=10 October 2011|website=bbj.hu}}{{Cite web|url=https://www.bnamericas.com/es/noticias/hsbc-vende-unidades-en-costa-rica-el-salvador-y-honduras-a-davivienda-por-us801mn|title=BNamericas - HSBC vende unidades en Costa Rica, El Salvad...|website=BNamericas.com}}{{Cite web|url=https://expansion.mx/negocios/2012/05/18/gnb-sudameris-compra-unidades-de-hsbc|title=GNB Sudameris compra unidades de HSBC|date=18 May 2012|website=Expansión}} Panama and Guatemala in 2013,{{Cite web|url=https://www.reuters.com/article/idUSSIE91I04R/|title=Colombiano Bancolombia compra HSBC Panamá por 2.100 mln dlr|website=Reuters }} Kazakhstan, Pakistan, Jordan, Libya, Cook Islands and Cayman Islands in 2014,{{Cite web|url=https://www.cookislandsnews.com/local/hsbc-job-losses-confirmed/|title=HSBC job losses confirmed|date=18 August 2020}}{{Cite web|url=https://www.reuters.com/article/idUSASM0006NK/|title=HSBC agrees to sell Pakistan bank|website=Reuters }}{{Cite web|url=https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10946671/HSBC-pulls-out-of-Libya-with-office-closure.html|title=HSBC pulls out of Libya with office closure|date=6 July 2014|website=The Telegraph}}{{Cite web|url=https://jordantimes.com/news/business/arab-jordan-investment-bank-agrees-acquire-hsbc%E2%80%99s-business-jordan|title=Arab Jordan Investment Bank agrees to acquire HSBC's business in Jordan|date=20 January 2014|website=Jordan Times}}{{Cite web|url=https://www.step.org/industry-news/hsbc-retreats-cayman-islands-banking-business|title=HSBC retreats from Cayman Islands banking business | STEP}}{{Cite web|url=https://www.reuters.com/article/idUSBREA1P0KG/|title=HSBC extends global retreat with $176 million sale of Kazakh bank|website=Reuters }} Monaco and Lebanon in 2016,{{Cite news|url=https://www.bloomberg.com/news/articles/2016-11-16/hsbc-said-to-reach-deal-on-sale-of-lebanese-unit-to-blom-bank-ivkp3qvz|title=HSBC Reaches Agreement for Sale of Lebanese Unit to Blom Bank|newspaper=Bloomberg |date=16 November 2016|via=www.bloomberg.com}}{{Cite news|url=https://www.theguardian.com/business/2016/oct/19/hsbc-winds-down-private-banking-operation-in-monaco|title=HSBC winds down private banking operation in Monaco|first=Jill|last=Treanor|date=19 October 2016|newspaper=The Guardian}} Greece in 2023,{{Cite web|url=https://www.europe.business.hsbc.com/en-gb/hsbc-in-greece|title=HSBC in Greece|via=www.europe.business.hsbc.com}} and Canada, Argentina, Russia and Armenia in 2024{{Cite web|url=https://www.reuters.com/business/finance/hsbc-completes-sale-russian-unit-expobank-2024-05-29/|title=HSBC completes sale of Russian unit to Expobank|website=Reuters }}{{Cite web|url=https://markets.ft.com/data/announce/detail?dockey=600-202403282359CANADANWCANADAPR_C6683-1|title=– Company Announcement - FT.com|website=markets.ft.com}}{{Cite web|url=https://www.hsbc.com/news-and-views/news/hsbc-news-archive/hsbc-agrees-to-sell-its-business-in-argentina|title=HSBC agrees to sell its business in Argentina | HSBC News|website=HSBC}}{{cite web |title=HSBC Exits Armenia After Nearly 30 Years, Sells Subsidiary to Ardshinbank |url=https://www.oragark.com/hsbc-exits-armenia-after-nearly-30-years-sells-subsidiary-to-ardshinbank/ |website=Oragark |date=29 August 2024 |access-date=8 December 2024}}

HSBC ceased banking operations in Nicaragua in 2009,{{Cite web|url=https://www.bnamericas.com/en/news/hsbc-downsizing-in-nicaragua-staying-put-in-rest-of-region|title=BNamericas - HSBC downsizing in Nicaragua, staying put in...|website=BNamericas.com}} Georgia in 2011,{{Cite web|url=https://georgianjournal.ge/business/5792-hsbc-announces-intention-to-exit-georgia-.html|title=HSBC ANNOUNCES INTENTION TO EXIT GEORGIA|website=GeorgianJournal}} Slovakia in 2012,{{Cite web|url=https://moneyweek.com/23393/hsbc-ends-operations-in-slovakia-120327-1522-79704|title=HSBC ends operations in Slovakia|first=MoneyWeek published in|last=Features|date=27 March 2012|website=moneyweekuk}} and Palestine in 2015.{{Cite web|url=https://www.about.hsbc.ps/|title=About HSBC | HSBC Palestinian Territories|website=www.about.hsbc.ps}}

HSBC disposed of its 70.1% stake in the Dar Es Salaam Investment Bank, a bank based in Iraq, in 2013.{{Cite web|url=https://www.meed.com/hsbc-mulls-sale-of-iraq-business/|title=MEED | HSBC mulls sale of Iraq business}}

HSBC Bank (Turkey) transferred its operations in the Turkish Republic of Northern Cyprus to ALBANK in 2017.{{Cite web|url=https://www.hsbc.com.tr/en/news/hsbc-bank-trnc-operations-were-transferred-to-albank|title=HSBC Bank TRNC Operations were transferred to ALBANK | HSBC}}

HSBC entered Brunei in 1947 but commenced winding down its operations in April 2016 citing the bank's optimisation of its global network and reduced complexity.Financial Times, Thursday 21 April 2016, p. 17.{{cite web|url=https://www.hsbc.com.bn/1/2/about-hsbc/public_announcement?WT.ac=BSB_05042016_publicannouncement|archive-url=https://web.archive.org/web/20160410071252/http://www.hsbc.com.bn/1/2/about-hsbc/public_announcement?WT.ac=BSB_05042016_publicannouncement|title=HSBC to wind down its operations in Brunei|date=5 April 2016|archive-date=10 April 2016}} {{As of|2019||df=|post=,}} HSBC stopped offering Amanah (a retail banking product and service in compliance with the Islamic Shari'ah laws) in Bahrain, Bangladesh, Indonesia, Singapore and the UAE following a strategic review of its global Islamic Finance businesses, while the bank continues on offering the same Shari'ah compliant products and services in Malaysia and in Saudi Arabia.{{Cite web|url=https://www.hsbc.com.bd/1/2/hsbc-amanah|title=HSBC Group has taken the decision to restructure its global Islamic banking business and will no longer offer Shari'ah compliant products and services|website=HSBC Bank Bangladesh - Islamic Banking|publisher=HSBC Bank Bangladesh, a wholly owned subsidiary of HSBC Group|access-date=1 December 2019}}{{Cite web|url=https://www.hsbc.com.bd/1/2/amanah-retail-banking-faq|title=HSBC Group has announced that it will focus its Islamic Finance offering on customers in Malaysia and Saudi Arabia|website=HSBC Bank Bangladesh - Amanah Retail Banking|publisher=HSBC|access-date=1 December 2019}}

HSBC Direct is a telephone/online direct banking operation which attracts customers through mortgages, accounts and savings. It was first launched in the USA{{cite web |url=http://www.hsbcdirect.com/usa |title=Hsbc Usa |publisher=Hsbcdirect.com |date=25 January 2010 |access-date=18 April 2011 }}{{Dead link|date=July 2024 |bot=InternetArchiveBot |fix-attempted=yes }} in November 2005 and is based on HSBC's 'First Direct' subsidiary in Britain which was launched in the 1980s. The service is now also available in Taiwan,{{cite web |url=http://www.hsbcdirect.com/taiwan |title=HSBC Taiwan |publisher=Hsbcdirect.com |date=25 January 2010 |access-date=18 April 2011 |archive-date=25 July 2008 |archive-url=https://web.archive.org/web/20080725140225/http://www.hsbcdirect.com/taiwan |url-status=dead }} South Korea,{{cite web |url=http://www.hsbcdirect.com/southkorea |title=HSBC South Korea |publisher=Hsbcdirect.com |date=25 January 2010 |access-date=18 April 2011 |archive-date=25 July 2008 |archive-url=https://web.archive.org/web/20080725140217/http://www.hsbcdirect.com/southkorea |url-status=dead }} Australia, France.{{cite web|url=http://www.hsbc.co.in/1/2/business/business-current-accounts/hsbc-direct-for-business |title=Small Business Banking. HSBC DIRECT for business, small | HSBC Bank India |publisher=Hsbc.co.in |access-date=19 January 2013}} Poland is launching business direct in September 2009. In the US, HSBC Direct is now part of HSBC Advance.{{cite web |url=http://www.us.hsbc.com/1/2/1/advance |title=HSBC South Korea |publisher=Hsbcdirect.com |date=25 January 2010 |access-date=18 April 2011 |archive-date=13 April 2011 |archive-url=https://web.archive.org/web/20110413115209/http://www.us.hsbc.com/1/2/1/advance |url-status=dead }}

HSBCnet provides access to transaction banking functionality – ranging from payments and cash management to trade services features – as well as to research and analytical content from HSBC. It also includes foreign exchange and money markets trading functionality. The system is used widely by HSBC's high-end corporate and institutional clients served variously by the bank's global banking and markets, commercial banking, and global transaction banking divisions. HSBCnet is also the brand under which HSBC markets its global e-commerce proposition to its corporate and institutional clients.{{cite web|url=http://www.hsbcnet.com |title=HSBCnet |publisher=HSBCnet |access-date=18 April 2011}}

HSBC Advance is the group's product aimed at working professionals. The exact benefits and qualifications vary depending on country, but typically require a monthly direct deposit or maintain US$5,000 of deposit/investments or residential mortgage. Business owners may use commercial relationship to qualify. Advantages may vary depending on country, such as day-to-day banking services including but not limited to a Platinum Credit Card, Advance ATM Card, Current Account and Savings Account. Protection plans and Financial Planning Services. A HSBC Advance customer enables the customer to open accounts in another country and transfer their credit history.{{cite web|url=https://www.us.hsbc.com/advance/ |title=HSBC Advance |publisher=us.hsbc.com |access-date=9 March 2021}}

HSBC Premier is the group's premium financial services product.{{cite web|url=http://www.hsbcpremier.com |title=HSBC Premier |publisher=HSBC Premier |access-date=21 January 2012}} It has its own portfolio of credit cards around the world. The exact benefits and qualification criteria vary depending on the country. Customers have a dedicated premier relationship manager, global 24-hour access to call centres, free banking services, and preferential rates. A HSBC Premier customer receives the HSBC Premier services in all countries that offer HSBC Premier, without having to meet that country's qualifying criteria ("Premier in One, Premier in All").{{cite web|url=http://www.hsbc.co.jp/1/2/hsbc-premier/experience/worldwide-assistance_hidden|archive-url=https://archive.today/20130811090327/http://www.hsbc.co.jp/1/2/hsbc-premier/experience/worldwide-assistance_hidden|url-status=dead|archive-date=11 August 2013|title=Worldwide Assistance and Online Premier Banking|publisher=HSBC.co.jp|access-date=10 August 2013}}

HSBC Jade is an invite-only financial services product aimed at individuals with net worths typically between $1 million and $5 million in investible assets held with HSBC. Before invitation, members must be HSBC Premier members for a designated period of time. In addition to HSBC Premier benefits, HSBC Jade have select concierge services, estate planning services, and access to Jade Centres around the globe.{{cite web|url=https://personal.hsbc.co.uk/current-accounts/products/jade/membership/|title=Jade membership|publisher=HSBC|access-date=15 December 2018}}

HSBC has been implicated in a number of controversies and the bank has been repeatedly fined for money laundering (sometimes in relation to major criminal organizations such as the Sinaloa cartel)[https://www.rollingstone.com/politics/news/gangster-bankers-too-big-to-jail-20130214 Gangster Bankers: Too Big to Jail, How HSBC hooked up with drug traffickers and terrorists. And got away with it] {{Webarchive|url=https://web.archive.org/web/20130216104623/https://www.rollingstone.com/politics/news/gangster-bankers-too-big-to-jail-20130214|date=16 February 2013}}, Rolling Stone magazine, Matt Taibbi, 14 February 2013. or setting up large scale tax avoidance schemes.

In both 2003 and 2010, U.S. regulators ordered HSBC to strengthen its anti-money laundering practices.[https://money.cnn.com/2012/12/12/news/companies/hsbc-money-laundering/index.html HSBC: Too big to jail?], CNNMoney, James O'Toole, 12 December 2012. In October 2010, the United States OCC issued a Cease and Desist Order requiring HSBC to strengthen multiple aspects of its Anti-Money Laundering (AML) program. The identified problems included a once massive backlog of over 17,000 alerts identifying suspicious activity, failure to file timely suspicious activity reports with U.S. law enforcement, failure to conduct any due diligence to assess risks to HSBC affiliates before opening correspondent accounts for them, a three-year failure by HBUS from mid-2006 to mid-2009 to conduct any AML of $15 billion in bulk cash transactions from those same HSBC affiliates, failure to monitor $60 trillion in annual wire transfers by customers in countries rated lower risk by HBUS, and inadequate and unqualified AML staffing, resources, and leadership. It was noted that HSBC fully cooperated with the Senate investigation.[https://www.senate.gov/general/search/search_cfm.cfm?q=HSBC+Case+History&site=default_collection&num=10&filter=0&x=0&y=0 U.S. Vulnerabilities to Money Laundering, Drugs, and Terrorist Financing: HSBC Case History] [PDF file], Carl Levin, Chair, Tom Coburn, Ranking Minority, 17 July 2012 Hearing. See especially page 3 [8 in PDF].

In 2012, HSBC was fined by $14 million by Argentina for failure to report suspicious transactions in the country in 2008.{{Cite web|title=British Bank Fined for Money Laundering in Argentina|url=https://www.occrp.org/en/daily/1979-british-bank-fined-for-money-laundering-in-argentina|access-date=3 October 2021|website=www.occrp.org|language=en-GB}}

On 19 July 2012, India investigated alleged violation of safety compliance, in which Indian employees were believed to be involved.{{cite news| url=https://timesofindia.indiatimes.com/india/Will-get-to-bottom-of-HSBC-staff-violating-safety-norms-Govt-on-money-laundering-allegations/articleshow/15044843.cms| archive-url=https://archive.today/20130126060553/http://articles.timesofindia.indiatimes.com/2012-07-19/india/32746540_1_safety-norms-financial-action-task-force-hsbc-s-india| url-status=live| archive-date=26 January 2013| work=The Times of India| title=Will get to bottom of HSBC staff violating safety norms: Govt on money laundering allegations| date=19 July 2012 }} On 9 November 2012, Indian activist and politician Arvind Kejriwal said he had details of 700 Indian bank accounts hiding black money with a total value of {{INRConvert|60|b}} with HSBC in Geneva.{{cite news|last=Sanyal|first=Prasad|title=Arvind Kejriwal targets HSBC, Mukesh Ambani over black money|url=http://www.ndtv.com/article/india/arvind-kejriwal-targets-hsbc-mukesh-ambani-over-black-money-290629|access-date=9 November 2012|newspaper=NDTV|date=9 November 2012}} In June 2013, a media outlet in India did an undercover expose where HSBC officers were caught on camera agreeing to launder "black money." HSBC placed these employees on leave pending their own internal investigation.[https://web.archive.org/web/20130620201245/http://ibnlive.in.com/news/stanchart-hsbc-officials-caught-on-camera-offering-to-launder-money/399864-3.html Standard Chartered, HSBC officials caught on camera offering to launder money], CNN-IBN & Cobrapost, Syed Masroor Hasan, Rohit Khanna, updated 18 June 2013.

In November 2012, it was reported that HSBC had set up offshore accounts in Jersey for suspected drug-dealers and other criminals, and that HM Revenue and Customs had launched an investigation following a whistle blower leaking details of £700 million allegedly held in HSBC accounts in the Crown dependency.{{cite news |url=https://www.theguardian.com/business/2012/nov/09/hsbc-jersey-accounts-uk-tax-hmrc |title=HSBC Jersey accounts investigated by UK tax authorities |access-date=24 February 2020 |work=Guardian |date=9 November 2012 |location=London |first=Simon |last=Bowers |archive-date=26 September 2014 |url-status=live |archive-url=https://web.archive.org/web/20140926064559/https://www.theguardian.com/business/2012/nov/09/hsbc-jersey-accounts-uk-tax-hmrc}}

Following search warrants and raids beginning in January 2013, in mid-March 2013 Argentina's main taxing authority accused HSBC of using fake receipts and dummy accounts to facilitate money laundering and tax evasion.[http://www.buenosairesherald.com/article/126690/afip-denounces-hsbc-with-moneylaundering-tax-evasion AFIP denounces HSBC with money-laundering, tax evasion], Buenos Aires Herald, 18 March 2013.[https://www.bbc.co.uk/news/business-21840052 HSBC faces new money laundering claims in Argentina], BBC, 18 March 2013.[https://www.cbsnews.com/news/argentina-hsbc-helped-launder-money-evade-taxes/ Argentina: HSBC helped launder money, evade taxes], CBS News, Associated Press (New York), 18 March 2013.

In early February 2013, appearing before UK's Parliamentary Banking Standards Commission, CEO Stuart Gulliver acknowledged that the structure of the bank had been "not fit for purpose." He also stated, "Matters that should have been shared and escalated were not shared and escalated."[https://www.independent.co.uk/news/business/news/terrorists-and-drug-lords-targeted-hsbc-bosses-admit-8483303.html Terrorists and drug lords targeted HSBC, bosses admit], The Independent [UK], Simon English, 6 February 2013. HSBC has also been accused of laundering money for terrorist groups.[https://www.bloomberg.com/news/2013-01-30/hsbc-names-tax-police-and-anti-terror-chiefs-to-controls-team.html HSBC Hires Tax, Anti-Terror Chiefs for Controls Panel], Bloomberg, Howard Mustoe, 30 January 2013.

In June 2015, HSBC was fined by the Geneva authorities after an investigation into money laundering within its Swiss subsidiary. The fine was 40 million Swiss Francs.{{cite web|url=https://www.theguardian.com/business/2015/jun/04/hsbc-fined-278m-over-money-laundering-claims|title=HSBC pays out £28m over money-laundering claims|date=4 June 2015|work=The Guardian|access-date=14 April 2017}}

In 2018, HSBC was fined 15 million rand by South Africa's central bank for weaknesses in its processes meant to detect money laundering and terrorism financing, though it also added that HSBC was not found to have facilitated any transactions involving money laundering or the financing of terrorism in South Africa.{{Cite news|date=9 November 2018|title=South African central bank fines HSBC for lax money laundering controls|language=en|work=Reuters|url=https://www.reuters.com/article/uk-hsbc-fine-safrica-idUKKCN1NE1YT|access-date=3 October 2021}}

In 2020, HSBC told AUSTRAC that it may have broken Australia's anti money laundering and counter-terrorism laws after allegedly failing to report thousands of transactions to AUSTRAC.{{Cite news |last=Ryan |first=Peter |date=8 April 2020 |title=HSBC flags potential anti-money laundering law breaches |language=en-AU |work=ABC News |url=https://www.abc.net.au/news/2020-04-08/banking-giant-hsbc-flags-potential-money-laundering-breaches/12132454 |access-date=3 October 2021}}{{Cite news|date=8 April 2020|title=HSBC reports potential money laundering breaches in Australia|language=en|work=Reuters|url=https://www.reuters.com/article/us-hsbc-hldg-australia-idUKKBN21Q1TQ|access-date=3 October 2021}}

In July 2021, HSBC disclosed that in 2016 it discovered a suspected money laundering network that received $4.2 billion worth of payments which has raised questions over whether it disclosed this appropriately to US monitors as the bank was still under probation by U.S. authorities over anti-money laundering concerns.{{Cite web|date=28 July 2021|title=HSBC faces questions over disclosure of alleged money laundering to monitors|url=http://www.theguardian.com/business/2021/jul/28/hsbc-faces-questions-over-disclosure-of-alleged-money-laundering-to-monitors|access-date=3 October 2021|website=the Guardian|language=en}}{{Cite web|title=Money-laundering ring pushed $4billion through HSBC|url=https://www.thebureauinvestigates.com/stories/2021-07-28/money-laundering-ring-pushed-4.2bn-through-hsbc|access-date=3 October 2021|website=The Bureau of Investigative Journalism (en-GB)|language=en}}

In December 2021, HSBC was fined 64 million pounds ($85 million) by British regulators for failings in its anti-money laundering processes spanning eight years.{{Cite news|url=https://www.reuters.com/business/hsbc-fined-85-mln-uk-anti-money-laundering-failings-2021-12-17/|title=HSBC fined $85 mln for UK anti-money laundering failings|first=Iain|last=Withers|newspaper=Reuters|date=17 December 2021|via=www.reuters.com}}

In July 2012, a US Senate committee issued a report{{Cite report |date=17 July 2012 |title=U.S. Vulnerabilities to Money Laundering, Drugs, and Terrorist Financing: HSBC Case History |url=http://www.hsgac.senate.gov/download/report-us-vulnerabilities-to-money-laundering-drugs-and-terrorist-financing-hsbc-case-history |publisher=United States Senate |pages=113–188 |access-date=7 February 2016 |archive-date=11 March 2016 |archive-url=https://web.archive.org/web/20160311202446/http://www.hsgac.senate.gov/download/report-us-vulnerabilities-to-money-laundering-drugs-and-terrorist-financing-hsbc-case-history |url-status=dead }} which stated that HSBC had been in breach of money-laundering rules, and had assisted Iran and North Korea to circumvent US nuclear-weapons sanctions.{{cite web |url=https://www.bloomberg.com/news/articles/2012-07-16/hsbc-aided-money-laundering-by-iran-drug-cartels-probe-shows |title=HSBC Executive Resigns at Senate Money-Laundering Hearing |last1=Hamilton |first1=Jesse |last2=Voreacos |first2=David |date=23 July 2012 |website=Bloomberg Business |access-date=7 February 2016 |quote=An outside audit by Deloitte LLP showed that 25,000 transactions totaling more than $19.4 billion involved Iran, according to the report. Of those, as many as 90 percent passed through the bank's U.S. accounts with no disclosure of ties to Iran, the report shows. Senate investigators documented similar transactions from a list of other prohibited jurisdictions including North Korea, Cuba, Sudan and Burma.}}{{cite web |url=https://www.bbc.co.uk/news/business-20673466 |title=HSBC to pay $1.9bn in US money laundering penalties |last1=Peston |first1=Robert |date=11 December 2012 |website=BBC News (Business) |access-date=7 February 2016 |quote=The Senate report also said HSBC regularly circumvented restrictions on dealings with Iran, North Korea, and other states subject to US sanctions.}}

In December 2012, Assistant U.S. Attorney General Lanny Breuer suggested that the U.S. government might resist criminal prosecution of HSBC which could lead to the loss of the bank's U.S. charter. He stated, "Our goal here is not to bring HSBC down, it's not to cause a systemic effect on the economy, it's not for people to lose thousands of jobs."

In December 2012, HSBC was penalised $1.9 billion (US), the largest fine under the Bank Secrecy Act, for violating four U.S. laws designed to protect the U.S. financial system.{{cite news|last1=Mollenkamp |first1=Carrick |last2=Wolf |first2=Brett |url=https://www.theglobeandmail.com/report-on-business/international-business/hsbc-to-pay-record-19-billion-fine-in-us-money-laundering-case/article6189108/ |title=HSBC to pay record $1.9-billion fine in U.S. money-laundering case |work=The Globe and Mail|date=11 December 2012 |access-date=14 July 2013 |location=Toronto}} HSBC had allegedly laundered at least $881 million in drugs proceeds through the U.S. financial system for international cartels, as well as processing an additional $660 million for banks in US sanctioned countries. According to the report, "The U.S. bank subsidiary [also] failed to monitor more than $670 billion in wire transfers and more than $9.4 billion in purchases of physical dollars from its Mexico unit." As part of the agreement deferring its prosecution, HSBC acknowledged that for years it had ignored warning signs that drug cartels in Mexico were using its branches to launder millions of dollars, and also acknowledged that HSBC's international staff had stripped identifying information on transactions made through the United States from countries facing economic sanctions such as Iran and Sudan.

A December 2012 CNNMoney article compared the 1.9 billion dollar fine to HSBC's profit "last year" (2011) of 16.8 billion.

In 2016, HSBC was sued by American families involved in deaths by organized-crime gangs for processing funds ("money laundering") for the Sinaloa cartel.{{cite news|url=https://www.theguardian.com/business/2016/feb/11/families-of-americans-killed-by-mexican-cartels-sue-hsbc|title=The Guardian – Families of Americans killed by Mexican cartels sue HSBC for laundering billions|last=Dart|first=Tom|date=11 February 2016|access-date=5 June 2016}}

The FinCEN Files showed that HSBC continued to serve alleged criminals and corporations involved in government corruption, including $292 million for the Waked Family company Viva Panama between 2010 and 2016 before the United States Department of the Treasury declared it a drug money-laundering organization. HSBC's activities took place while the bank was under probation from the U.S. government; six former HSBC employees reported to the International Consortium of Investigative Journalists that the deferred prosecution agreement for HSBC marked a "cultural shift" in the organization toward profit-making motives. Employees working in compliance at HSBC also expressed concern to Buzzfeed about what they felt were inadequate efforts to combat money laundering, including hasty investigations and unachievable internal investigation quotas.{{Cite web|title=The Untold Story Of What Really Happened After HSBC, El Chapo's Bank, Promised To Get Clean|url=https://www.buzzfeednews.com/article/anthonycormier/hsbc-money-laundering-drug-cartels|access-date=24 February 2021|website=BuzzFeed News|date=21 September 2020 |language=en}}{{Cite web|date=21 September 2020|title=HSBC moved vast sums of dirty money after paying record laundering fine|url=http://www.icij.org/investigations/fincen-files/hsbc-moved-vast-sums-of-dirty-money-after-paying-record-laundering-fine/|access-date=24 February 2021|website=ICIJ|language=en-US}} In response to the report HSBC said it is "continually seeking ways to improve" its financial crime compliance regime.{{Cite web|title=Here Is How Banks Have Responded To The FinCEN Files Investigation|url=https://www.buzzfeednews.com/article/buzzfeednews/bank-responses-fincen-files|access-date=24 February 2021|website=BuzzFeed News|date=20 September 2020 |language=en}}

The bank was fined US$275m by the US CFTC in 2014 for taking part in the Forex scandal.{{cite web|url= http://www.cftc.gov/PressRoom/PressReleases/pr7056-14#PrRoWMBL|title= CFTC Orders Five Banks to Pay over $1.4 Billion in Penalties for Attempted Manipulation of Foreign Exchange Benchmark Rates|date= 12 November 2014|access-date= 13 November 2014|publisher= Commodities Futures trading Commission}} The bank also settled for US$18m in the related Libor scandal and EUR 33m for the Euribor rate scandal (relative to other banks a small amount).{{cite web|url= https://www.theguardian.com/business/2016/dec/07/hsbc-jpmorgan-credit-agricole-fined-eu-euribor|title= HSBC, JP Morgan and Crédit Agricole fined €485m by EU|work=The Guardian|date=7 December 2016|access-date=23 September 2017}}{{cite web|url=https://www.law360.com/articles/932024/barclays-ubs-hsbc-agree-to-36m-settlement-in-libor-suit|title=Barclays, UBS, HSBC Agree To $36M Settlement In Libor Suit|date=7 June 2017|publisher=Law 360|access-date=23 September 2017}} In October 2020 HSBC was fined about $2.2 million over the Euribor rate scandal in Switzerland.{{Cite web|date=27 October 2020|title=Switzerland Fines Credit Agricole, HSBC $7.2M Over Euribor|url=https://www.competitionpolicyinternational.com/switzerland-fines-credit-agricole-hsbc-7-2m-over-euribor/|access-date=24 February 2021|website=Competition Policy International|language=en-US}}

In November 2014, HSBC was accused of tax fraud and money laundering by Belgian Prosecutors for helping hundreds of clients move money into offshore tax havens.{{Cite web|date=17 November 2014|title=HSBC faces charges of fraud and money laundering from Belgian state|url=http://www.theguardian.com/business/2014/nov/17/hsbc-swiss-arm-fraud-money-laundering-charges-belgium|access-date=24 February 2021|website=the Guardian|language=en}}{{Cite news|date=17 November 2014|title=HSBC's private banking arm accused of tax fraud by Belgium|language=en-GB|work=BBC News|url=https://www.bbc.com/news/business-30078275|access-date=24 February 2021}}

In August 2019, HSBC agreed to pay $336 million to settle the case.{{Cite news|last=Guarascio|first=Francesco|date=6 August 2019|title=HSBC agrees to 300 mln euro settlement of Belgian tax fraud case: prosecutors|language=en|work=Reuters|url=https://www.reuters.com/article/us-hsbc-belgium-moneylaundering-idUSKCN1UW0Y0|access-date=24 February 2021}}{{Cite web|title=HSBC to repay Belgium $336m for lost tax revenue|url=https://www.aljazeera.com/economy/2019/8/6/hsbc-fined-336m-to-repay-belgium-after-huge-tax-fraud|access-date=24 February 2021|website=www.aljazeera.com|language=en}}

{{See also|Swiss Leaks}}

In February 2015, the International Consortium of Investigative Journalists released information about the bank's business conduct under the title Swiss Leaks. The ICIJ alleges that the bank profited from doing business with tax evaders and other clients. The BBC reported that the bank had put pressure on media not to report about the controversy, with British newspaper The Guardian claiming bank advertising had been put "on pause" after The Guardian{{'}}s coverage of the matter.{{cite news|url=https://www.bbc.com/news/uk-31517545|title=Daily Telegraph's Peter Oborne urges HSBC coverage review|work=BBC News|date=18 February 2015|access-date=18 February 2015}} Peter Oborne, chief political commentator at The Daily Telegraph, resigned from the paper and in an open letter claimed the newspaper suppressed negative stories and dropped investigations into HSBC because of the bank's advertising.{{cite web|url=https://www.opendemocracy.net/ourkingdom/peter-oborne/why-i-have-resigned-from-telegraph|title=Why I have resigned from the Telegraph|last=Oborne|first=Peter|date=17 February 2015|access-date=17 February 2015}}

In November 2017, HSBC agreed to pay $352 million to settle a French investigation into the case.{{Cite news|date=14 November 2017|title=HSBC pays 300 million euros to settle investigation of Swiss bank|language=en|work=Reuters|url=https://www.reuters.com/article/us-hsbc-france-swiss-idUKKBN1DE1Z1|access-date=24 February 2021}}

In August 2019, the former head of HSBC Swiss from 2000 to 2008, Peter Braunwalder pleaded guilty in a French court for helping wealthy clients hide $1.8 billion. He was fined $560,000 and received a one-year suspended jail sentence.{{Cite web|title=Ex-HSBC Swiss Banker Pleads Guilty in $1.8 Billion French Tax Case|url=https://www.icij.org/investigations/swiss-leaks/ex-hsbc-swiss-banker-pleads-guilty-in-1-8-billion-french-tax-case/|access-date=24 February 2021|website=ICIJ|date=7 August 2019 |language=en-US}}

In December 2019, HSBC Swiss agreed to pay a $192 million United States fine for the case.{{Cite web|title=HSBC To Pay $192m Penalty For Helping Americans Evade Taxes|url=https://www.icij.org/investigations/swiss-leaks/hsbc-to-pay-192m-penalty-for-helping-americans-evade-taxes/|access-date=24 February 2021|website=ICIJ|date=11 December 2019 |language=en-US}}{{Cite news|last=Miller|first=John|date=11 December 2019|title=HSBC Swiss unit to pay $192 million in latest U.S. tax evasion deal|language=en|work=Reuters|url=https://www.reuters.com/article/us-hsbc-hldg-probe-idUSKBN1YE2KG|access-date=24 February 2021}}

In July 2016, the United States Department of Justice charged two executives from HSBC Bank over an alleged $3.5 billion currency scheme which defrauded HSBC clients and "manipulated the foreign exchange market to benefit themselves and their bank".{{cite web|url=https://www.theguardian.com/business/2016/jul/20/hsbc-mark-johnson-stuart-scott-arrested-currency-exchange|title=FBI arrests senior HSBC banker accused of rigging multibillion-dollar deal|last1=Neate|first1=Rupert|last2=Treanor|first2=Jill|date=20 July 2016|website=the Guardian|access-date=21 July 2016}} "Mark Johnson and Stuart Scott, both British citizens, are being accused." "Johnson was arrested late Tuesday [19 July 2016] at JFK International Airport in New York City."{{cite web|url=https://thehill.com/regulation/finance/288518-feds-charge-hsbc-bankers-in-35b-currency-scheme/|title=Feds charge HSBC bankers in currency scheme|last=Mali|first=Meghashyam|date=20 July 2016|access-date=21 July 2016}} "Stuart Scott, who was HSBC's European head of foreign exchange trading in London until December 2014, is accused of the same crimes." A warrant was issued for Scott's arrest, but he fled to Britain. In July 2018 the High Court of Justice ruled against extraditing him to the United States since most of the alleged crimes took place in Britain and because Scott has no significant connection to the United States.{{Cite news|last=Pierson|first=Brendan|date=13 September 2019|title=U.S. court upholds ex-HSBC executive's conviction for foreign-exchange scheme|language=en|work=Reuters|url=https://www.reuters.com/article/us-hsbc-hldg-usa-johnson-idUSKCN1VX229|access-date=24 February 2021}}

Mark Johnson was later convicted of nine counts of wire fraud and conspiracy to defraud related to front running the currency trades of HSBC clients and sentenced to two years in federal prison.{{cite web|url=https://www.wsj.com/articles/former-hsbc-executive-convicted-of-fraud-for-front-running-1508779714|title=Former HSBC Executive Convicted of Fraud for Front-Running|date=23 October 2017|publisher=Wall Street Journal|access-date=26 October 2017}}{{cite news|title = Ex-HSBC FX Trader Sentenced to 2 Years, Sent Directly to Prison | publisher = Bloomberg News | url = https://www.bloomberg.com/news/articles/2018-04-26/ex-hsbc-currency-trader-is-sentenced-to-two-years-in-prison | date = 26 April 2018 | first1 = Patricia | last1 = Hurtado |first2 = Lananh | last2 = Nguyen }} He was released after serving three months in prison and was allowed to return home to the U.K. while he pursued an appeal. November 2020 the U.S. Supreme Court declined to hear an appeal of his 2017 conviction, which was previously upheld by the United States Court of Appeals for the Second Circuit. It meant he would have to return to the U.S. to serve his sentence.{{Cite news|date=2 November 2020|title=Ex-HSBC Trader Denied Supreme Court Appeal of Fraud Conviction|language=en|work=Bloomberg.com|url=https://www.bloomberg.com/news/articles/2020-11-02/ex-hsbc-trader-denied-supreme-court-appeal-of-fraud-conviction|access-date=24 February 2021}} In February 2021 a judge ruled that Johnson would not need to report to prison until he is vaccinated against COVID-19.{{Cite web|title=Ex-HSBC Banker Can't Skip Prison, But Wins Vaccine Delay - Law360|url=https://www.law360.com/articles/1353712/ex-hsbc-banker-can-t-skip-prison-but-wins-vaccine-delay|access-date=24 February 2021|website=www.law360.com|language=en}} In January 2018 HSBC agreed to pay a $101.5 million fine over the case.{{Cite news|last=S|first=Jonathan Stempel, Sangameswaran|date=18 January 2018|title=HSBC to pay $100 million to settle U.S. probe into currency rigging|language=en|work=Reuters|url=https://www.reuters.com/article/us-hsbc-settlement-idUKKBN1F7365|access-date=24 February 2021}}{{Cite web|date=18 January 2018|title=HSBC Holdings Plc Agrees to Pay More Than $100 Million to Resolve Fraud Charges|url=https://www.justice.gov/opa/pr/hsbc-holdings-plc-agrees-pay-more-100-million-resolve-fraud-charges|access-date=24 February 2021|website=www.justice.gov|language=en}}

In December 2018, The Jerusalem Post reported that HSBC confirmed that the bank would divest from Elbit Systems Ltd., Israel's largest non-government-owned military contractor,{{Cite web|url=http://phx.corporate-ir.net/phoenix.zhtml?c=61849&p=irol-faq_pf|title=Elbit - Investor Relations - FAQ|website=phx.corporate-ir.net|access-date=31 December 2018}} active in numerous defence-related industries. HSBC justified its decision by claiming it "strongly supports observance of international human rights principles as they apply to business."{{Cite web|url=https://www.jpost.com/Arab-Israeli-Conflict/HSBC-bank-decides-to-divest-from-Israeli-defense-contractor-Elbit-575632|title=Citing human rights, HSBC to divest from Israeli arms developer Elbit - Arab-Israeli Conflict - Jerusalem Post|website=www.jpost.com|date=27 December 2018 |access-date=31 December 2018}} In response, the group Palestine Solidarity Campaign (PSC) released a press release in which it "declared a victory" and quoted PSC director Ben Jamal saying the decision demonstrates "the effectiveness of Boycott, Divestment, and Sanctions as a tactic."{{Cite web|url=https://www.palestinecampaign.org/press-release-banking-giant-hsbc-divests-from-israeli-arms-manufacturer-following-pressure-from-human-rights-campaigners/|title=PRESS RELEASE: Banking giant HSBC divests from Israeli arms manufacturer following pressure from human rights campaigners|date=27 December 2018|website=Palestine Solidarity Campaign|language=en-GB|access-date=31 December 2018}} JewishPress.com reported that multiple sources claimed HSBC's decision was not influenced by the BDS movement but was an "investment decision."{{Cite web|url=http://www.jewishpress.com/news/israel/boycott/not-so-fast-hsbc-bank-may-not-be-boycotting-israel-after-all/2018/12/30/|title=Not So Fast: HSBC Bank May Not Be Boycotting Israel After All|work=The Jewish Press|last=Julian|first=Hana Levi|date=30 December 2018 |language=en-US|access-date=31 December 2018}}

In an editorial titled "Bad Banking", The Jerusalem Post wrote, "HSBC, if this is your final decision, you will go down on the wrong side of history. Do you understand that Israel is using Elbit technology to protect itself against Palestinian terror, and not to undermine the rights of the Palestinian people? If you are really concerned about human rights, perhaps you might consider using some of your own income to invest in the Palestinian economy, and boost cooperation between Israeli and Palestinian institutions."{{Cite web|url=https://www.jpost.com/Opinion/Bad-banking-575980|title=Bad banking - Opinion - Jerusalem Post|website=www.jpost.com|date=31 December 2018 |access-date=1 January 2019}}

In 2018, HSBC agreed to pay a $765 million fine to settle claims it mis-sold Residential mortgage-backed securities between 2005 and 2007.{{Cite web|date=9 October 2018|title=HSBC Agrees To Pay $765 Million In Connection With Its Sale Of Residential Mortgage-Backed Securities|url=https://www.justice.gov/usao-co/pr/hsbc-agrees-pay-765-million-connection-its-sale-residential-mortgage-backed-securities|access-date=24 February 2021|website=www.justice.gov|language=en}}{{Cite news|last=Maidenberg|first=Micah|date=10 October 2018|title=HSBC to Pay $765 Million to Settle Mortgage-Backed Securities Probe|language=en-US|work=The Wall Street Journal|url=https://www.wsj.com/articles/hsbc-to-pay-765-million-to-settle-mortgage-backed-securities-probe-1539105810|access-date=24 February 2021|issn=0099-9660}} Forbes noted the settlement was the lowest of 11 banks that settled with the Department of Justice.{{Cite web|last=Team|first=Trefis|title=DoJ Lets HSBC Off The Hook With $765 Million Settlement Of Legacy Mortgage Issue|url=https://www.forbes.com/sites/greatspeculations/2018/10/12/doj-lets-hsbc-off-the-hook-with-765-million-settlement-of-legacy-mortgage-issue/|access-date=24 February 2021|website=Forbes|language=en}} HSBC has said in a statement that it has been improving relevant control mechanisms since the financial crisis.{{Cite news|date=9 October 2018|title=HSBC to pay $765 million to settle U.S. mortgage securities mis-selling claim|language=en|work=Reuters|url=https://www.reuters.com/article/us-hsbc-fine-idUSKCN1MJ23X|access-date=24 February 2021}}

In June 2020, on the eve of the anniversary of the Tiananmen Square protests, HSBC took the rare step of wading into political issues by publicly backing Beijing's controversial new national security law for Hong Kong.{{cite news|url=https://www.bloomberg.com/news/articles/2020-06-03/u-k-banks-defy-london-to-back-beijing-on-hong-kong-security-law|title=HSBC, StanChart Defy U.K. to Endorse Hong Kong Security Law|last=Wilson|first=Harry|date=3 June 2020|work=Bloomberg|access-date=4 June 2020}} The chief executive for HSBC's Asia-Pacific division, Peter Wong, signed a petition supporting the law and stated in a post on Chinese social media that HSBC "respects and supports all laws that stabilise Hong Kong's social order."{{cite news|url=https://www.theglobeandmail.com/business/international-business/asia-pacific-business/article-hsbc-and-standard-chartered-back-chinas-imposition-of-security-law-on/|title=HSBC and Standard Chartered back China's imposition of security law on Hong Kong|last=Chatterjee|first=Sumeet|date=3 June 2020|work=The Globe and Mail|location=Toronto|access-date=4 June 2020}}{{cite news|url=https://fortune.com/2020/06/04/hsbc-hong-kong-china-law-peter-wong/|title=How HSBC got stuck between Beijing's new Hong Kong law and a hard place|last=McGregor|first=Grady|date=3 June 2020|work=Fortune|access-date=4 June 2020}}

Though HSBC moved its headquarters to London in 1993, Hong Kong remains its largest market accounting for 54% of its profit, a third of its global revenue, and 50,000 local staff.{{cite news|url=https://www.bbc.com/news/business-52916119|title=HSBC and StanChart back China security laws for HK|date=4 June 2020|work=BBC News|access-date=4 June 2020}}{{cite news|url=https://www.bloomberg.com/opinion/articles/2020-06-04/hsbc-is-swimming-in-dangerous-waters-on-hong-kong|title=HSBC Is Navigating Dangerous Waters on Hong Kong|last=Gopalan|first=Nisha|date=4 June 2020|work=Bloomberg|access-date=4 June 2020}} In response, Joshua Wong, a top Hong Kong pro-democracy activist decried the bank's position stating that HSBC's stance demonstrates "how China will use the national security law as new leverage for more political influence over foreign business community in this global city." Alistair Carmichael, the U.K. chairman of the All Parliamentary Group on Hong Kong, said HSBC made a serious error by bending to China's will regarding the security law, calling it "a colossal misjudgment" since it would be seen as a large British corporation advocating for "a fairly flagrant breach of international law" when banks rely on a rules-based system. Human Rights Watch alleged that "the new national security law will deal the most severe blow to the rights of people in Hong Kong since the territory's transfer to China in 1997."

British Foreign Secretary Dominic Raab also commented on HSBC's stance, saying "Businesses will make their own judgment calls, but let me just put it this way – we will not sacrifice the people of Hong Kong over the altar of banker bonuses".{{Cite web|date=15 June 2020|title=Raab hits out at HSBC over its support for Hong Kong security laws|url=https://www.cityam.com/dominic-raab-hits-out-at-hsbc-over-its-support-for-hong-kong-security-legislation/|access-date=15 June 2020|website=CityAM|language=en-GB}}

Since August 2020, HSBC has frozen the accounts of numerous pro-democratic organizations and activists, and their families, including Jimmy Lai, Ted Hui and the Good Neighbour North District Church.{{Cite web|date=8 December 2020|title=Hong Kong police raid church hours after pastor said HSBC froze accounts|url=http://www.theguardian.com/world/2020/dec/08/hong-kong-church-pastor-says-hsbc-froze-personal-and-charity-bank-accounts|access-date=8 December 2020|website=the Guardian|language=en}}{{Cite news|last=Roantree|first=Susan Heavey, Lawrence White, Anne Marie|date=26 August 2020|title=U.S. slams HSBC over treatment of Hong Kong customers, says China 'bullying' UK|language=en|work=Reuters|url=https://www.reuters.com/article/us-hongkong-security-usa-hsbc-idUSKBN25M1DT|access-date=8 December 2020}}

In January 2021, the CEO of HSBC defended its relationship with Chinese authorities in Hong Kong and freezing of Ted Hui's account to the United Kingdom's parliamentary foreign affairs committee.{{Cite web|date=27 January 2021|title=HSBC boss defends decision to freeze accounts of fugitive ex-lawmaker Ted Hui|url=https://www.scmp.com/news/hong-kong/politics/article/3119370/hsbc-boss-defends-decision-freeze-accounts-fugitive-ex|access-date=24 February 2021|website=South China Morning Post|language=en}}{{Cite web|date=26 January 2021|title=HSBC CEO defends working with Chinese authorities in Hong Kong|url=https://www.politico.eu/article/hsbc-ceo-defends-working-china-authorities-hong-kong/|access-date=24 February 2021|website=POLITICO|language=en-US}}

In February 2021, more than 50 members of the Inter-Parliamentary Alliance on China called for the immediate unfreezing of funds belonging to Ted Hui and his family,{{Cite news|date=8 February 2021|title=Lawmakers challenge HSBC on Hong Kong activist's accounts|language=en|work=Reuters|url=https://www.reuters.com/article/us-hsbc-hldg-hong-kong-idUSKBN2A80L5|access-date=16 February 2021}}{{Cite web|date=8 February 2021|title=HSBC urged to unfreeze accounts of Hong Kong activist|url=http://www.theguardian.com/business/2021/feb/08/hsbc-urged-to-unfreeze-accounts-of-hong-kong-activist-china|access-date=16 February 2021|website=the Guardian|language=en}}

In 2023 an All-party parliamentary group released a report regarding the actions of the bank's operations in Hong Kong.{{Cite web |title=Banking Report |url=https://www.hkinquiry.org/banking-report |access-date=8 February 2023 |website=APPG Inquiry |language=en}} The report found that HSBC was complicit in human rights abuses by bank's cutting off the pension plan after the Hong Kong authority cut off pension funding for those that fled the anti-democratic crackdown on the region. The group was chaired by Alistair Carmichael who stated that the bank has been "complicit in the repression of the human rights of innocent Hong Kongers".{{Cite news |last=Makortoff |first=Kalyeena|date=8 February 2023 |title=UK MPs and peers find HSBC complicit in Hong Kong human rights abuses |language=en-GB |work=The Guardian |url=https://www.theguardian.com/business/2023/feb/08/uk-mps-and-peers-find-hsbc-complicit-in-hong-kong-human-rights-abuses |access-date=8 February 2023 |issn=0261-3077}}

EU antitrust regulators fined HSBC 174.3 million euros for foreign exchange market rigging by exchanging sensitive information and trading plans through an online chat room dubbed "Sterling Lads".{{Cite news|url=https://www.reuters.com/business/finance/eu-fines-barclays-rbs-hsbc-credit-suisse-344-mln-euros-forex-cartel-2021-12-02/|title=EU fines HSBC, Credit Suisse, others over 'Sterling Lads' forex cartel|first=Foo Yun|last=Chee|newspaper=Reuters|date=2 December 2021|via=www.reuters.com}}{{Cite news|url=https://www.wsj.com/articles/hsbc-credit-suisse-others-fined-for-sterling-lads-currency-cartel-11638447804|title=HSBC, Credit Suisse, Others Fined for 'Sterling Lads' Currency Cartel|first=Patricia|last=Kowsmann|newspaper=Wall Street Journal|date=2 December 2021|via=www.wsj.com}}

In 2008, HSBC issued a statement confirming it had lost a disc containing details of 370,000 customers of its life insurance business. HSBC said the disc had failed to arrive in the post between offices and it was not encrypted.{{cite news|url=https://www.theguardian.com/business/2008/apr/08/hsbcholdingsbusiness.banking|title=HSBC loses disk with policy details of 370,000 customers|last=Bowers|first=Simon|date=8 April 2008|work=The Guardian|location=London}} The bank was later fined over £3 million by the Financial Services Authority for failing to exercise reasonable care with regards to data protection in connection with this and other lost customer information.{{Cite news|date=22 July 2009|title=HSBC fined £3m for 'careless' handling of customer details|url=http://www.theguardian.com/business/2009/jul/22/hsbc-lost-data-fsa-fine|access-date=15 June 2020|work=The Guardian|language=en}}

From 2009 to 2014, in breach of United States sanctions on Iran, the bank facilitated money transfers in Iran on behalf of the Chinese company Huawei.{{cite web|url=https://www.nytimes.com/2018/12/14/business/huawei-meng-hsbc-canada.html|title=How a National Security Investigation of Huawei Set Off an International Incident|date=14 December 2018|work=The New York Times|access-date=14 December 2018}}

According to Global Witness and cited by BBC, "billions of dollars of assets" were held by the bank for the Libyan Investment Authority, controlled by Colonel Muammar Gaddafi. Following Gaddafi's overthrow the bank declined to reveal information about the funds citing customer confidentiality.{{Cite web|url=https://www.globalwitness.org/en/archive/hsbc-and-goldman-sachs-held-335m-libyan-state-oil-money/|title=HSBC and Goldman Sachs held $335m of Libyan state oil money|website=Global Witness}}[https://www.bbc.co.uk/news/business-13552364 Revealed: Where Libya invests ,3bn]. BBC News (25 May 2011). Retrieved on 6 December 2013.[http://www.globalwitness.org/library/new-leaked-document-reveals-hsbc-held-14bn-libyan-funds New leaked document reveals HSBC held $1.4bn of Libyan funds]. Global Witness. Retrieved on 6 December 2013.

In the report titled "In the Future There Will Be No Forests Left" produced by Global Witness, the bank was accused of supporting the seven largest Malaysian timber conglomerates, which are responsible for deforestation in the Malaysian state of Sarawak.{{cite news|url=http://www.globalwitness.org/sites/default/files/HSBC-logging-briefing-FINAL-WEB.pdf|title=In the Future There Will Be No Forests Left|date=2 November 2012|work=Global Witness|access-date=12 November 2012|archive-date=21 September 2020|archive-url=https://web.archive.org/web/20200921035019/https://cdn.globalwitness.org/archive/files/HSBC-logging-briefing-FINAL-WEB.pdf|url-status=dead}} The bank declined to divulge its clients, citing client confidentiality, but maintains that the accusations are not accurate.{{cite news|url=https://www.economist.com/news/finance-and-economics/21565622-new-investigation-accuses-hsbc-ignoring-its-own-sustainability-policies-log|title=Log tale – A new investigation accuses HSBC of ignoring its own sustainability policies|date=3 November 2012|newspaper=The Economist|access-date=12 November 2012}} The environmentalist group Greenpeace has also alleged that the bank is contributing to the deforestation in Indonesia and subsequent hazardous impacts in the region by providing funds to palm oil producers for new plantations. The bank has denied these claims, citing its sustainability policy that prohibits the bank from financing projects that "damage high conservation value forest."{{Cite news|url=https://www.independent.co.uk/news/world/asia/hsbc-rainforest-deforestation-indonesia-funding-claims-report-a7529761.html|title=HSBC funding destruction of vast areas of Indonesian rainforest, new report claims|work=The Independent|access-date=4 October 2018|language=en-GB}}

The bank was reported to have refused large cash withdrawals for customers without a third-party letter confirming what the money would be used for.{{cite news|url=https://www.bbc.co.uk/news/business-25861717 |title=HSBC imposes restrictions on large cash withdrawals|date=24 January 2014|work=BBC News|access-date=9 March 2014}} Douglas Carswell, the Conservative MP for Clacton, was alarmed by the policy: "All these regulations which have been imposed on banks allow enormous interpretation. It basically infantilises the customer. In a sense, your money becomes pocket money and the bank becomes your parent."

In August 2015, the bank failed to process BACS payments resulting in thousands of salaries not paid, house purchase and payment for essential home care failures.{{cite news|url=https://www.bbc.co.uk/news/uk-34095626|title=HSBC glitch payments 'all processed'|date=29 August 2015|work=BBC News}}

In January 2020, HSBC agreed to pay a $2.4 million settlement for a lawsuit filed in 2015 by customers who stated they received spam phone calls from the company.{{Cite news|date=6 January 2020|title=HSBC Bank pays $2.4 million to settle class-action over spam calls|url=https://www.consumeraffairs.com/news/hsbc-bank-pays-24-million-to-settle-class-action-over-spam-calls-010620.html|access-date=24 February 2021|newspaper=Consumeraffairs|language=en}}

HSBC banker Ian Clarke alleged a failure of HSBC to retain or promote black and other ethnic minority staff, a lack of such people in senior positions, and insufficient policies to address these problems. HSBC did not address the specifics of Clarke's assertions and he resigned shortly thereafter.{{Cite web|url=https://www.reuters.com/business/finance/exclusive-banker-behind-report-alleging-hsbc-racism-resigns-over-lack-support-2021-08-06/|title=EXCLUSIVE Banker behind report alleging HSBC racism resigns over lack of support|date=9 August 2021|website=Reuters}}{{Cite web|url=https://www.reuters.com/business/sustainable-business/hsbc-banker-who-quit-over-racism-report-says-efforts-hire-more-black-leaders-2021-08-17/|title=HSBC banker who quit over racism report says efforts to hire more Black leaders failing|date=18 August 2021|website=Reuters}}

Stuart Kirk, the bank's global head of responsible investing, was suspended in May due to his speech in which he said "There's always some nut job telling me about the end of the world." He quit his position in July, criticising the "cancel culture" in his Linkedin post, and blaming it for his suspension and resignation.{{cite news|url=https://www.bbc.com/news/business-62085294 | title=HSBC banker quits after 'nut job' climate speech | date=7 July 2022 | publisher=BBC News |access-date=8 July 2022 }} In October, the company had its two advertisements banned due to being misleading about the company's activities for reducing the effects of climate change. The Advertising Standards Authority (ASA), who was behind the ban, stated that the posters omitted material information about how HSBC planned to tackle the climate change and reduce its impact.{{cite news|url=https://www.bbc.com/news/business-63309878 | title=HSBC climate change adverts banned by UK watchdog | date=19 October 2022 | publisher=BBC News |access-date=19 October 2022}}

{{Multiple image

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| image3 = HSBC.svg

| caption3 = Logo used from 1998 to 2018, a previous version had the hexagon and HSBC name in differing sizes and positioning

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| caption4 = Logo used from 2018 to present

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The group announced in November 1998 that the HSBC brand and the hexagon symbol would be adopted as the unified brand in all the markets where HSBC operates, with the aim of enhancing recognition of the group and its values by customers, shareholders and staff throughout the world. The hexagon symbol was originally adopted by the Hongkong and Shanghai Banking Corporation as its logo in 1983. It was developed from the bank's house flag, a white rectangle divided diagonally to produce a red hourglass shape. Like many other Hong Kong company flags that originated in the 19th century, and because of its founder's nationality, the design was based on the cross of Saint Andrew. The logo was designed by Austrian graphic artist Henry Steiner.{{cite web|title=HSBC Logo|url=http://www.famouslogos.net/hsbc-logo|publisher=FamousLogos.net|access-date=24 January 2012|archive-date=6 February 2022|archive-url=https://web.archive.org/web/20220206164821/https://www.famouslogos.net/hsbc-logo/|url-status=dead}}

In 2018, HSBC made minor changes to their logo. The wordmark was repositioned from left to the right, resized to be smaller, and was switched from Serif to a licensed custom font called Univers Next for HSBC. The logo red was made slightly darker red.{{cite web|url=https://www.hsbc.ae/1/2/personal/hsbc-new-branding|title=We've changed our look {{!}} HSBC|website=HSBC|access-date=2 September 2018|archive-url=https://web.archive.org/web/20180902011808/https://www.hsbc.ae/1/2/personal/hsbc-new-branding/|archive-date=2 September 2018}}

File:Webber usgp 2004.jpg Formula One car, being driven by Mark Webber]]

Having sponsored the Jaguar Racing Formula One team since the days of Stewart Grand Prix, HSBC ended its relationship with motorsport after seven years when Red Bull purchased Jaguar Racing from Ford.{{cite web|url=http://www.crash.net/f1/news/39351/1/jaguar-and-hsbc-strike-up-a-new-deal.html|title=Jaguar and HSBC strike up a new deal|date=10 July 2001|publisher=Crash|access-date=14 April 2017}}

In the mid-2000s, HSBC switched its focus to golf, taking title sponsorship of several events such as the HSBC World Match Play Championship, HSBC Women's World Match Play Championship (now defunct), WGC-HSBC Champions, Abu Dhabi HSBC Golf Championship, HSBC Women's Champions, HSBC Golf Business Forum and HSBC Golf Roots (a youth development programme). HSBC was named the 'Official Banking Partner' of the Open Championship, in a five-year deal announced in 2010.{{cite web |url=http://sponsorpitch.com/articles/1717 |title=HSBC Named 'Official Banking Partner' of the Open |date=15 October 2010 |work=SponsorPitch |access-date=12 November 2010 |archive-date=16 July 2011 |archive-url=https://web.archive.org/web/20110716122122/http://sponsorpitch.com/articles/1717 |url-status=dead }}

In October 2010, the International Rugby Board announced that they had concluded a 5-year deal with HSBC which granted them status as the first-ever title sponsor of the World Sevens Series. Through the accord, HSBC is paying more than $100 million for the title naming rights to all the tournaments. HSBC opted to sub-license the naming rights to all but one of the individual tournaments while retaining its name sponsorship of the overall series and the Hong Kong Sevens.{{Cite web|url=https://www.hsbc.com/who-we-are|title=Who we are | HSBC Holdings plc|website=HSBC}} The company also sponsors the Hong Kong Rugby Union and the New South Wales Waratahs team in Super Rugby. It sponsored British & Irish Lions during their 2009 tour to South Africa and 2013 tour to Australia.{{cite web|url=http://rugbyshirts.net/2013-british-lions-shirt-launched-6200.html|title=2013 British Lions Shirt Launched|date=29 October 2012|access-date=29 October 2012|archive-url=https://web.archive.org/web/20121101031139/http://rugbyshirts.net/2013-british-lions-shirt-launched-6200.html|archive-date=1 November 2012|url-status=dead}}

HSBC is the official banking partner of the Wimbledon Championships tennis tournament, providing banking facilities on site and renaming the junior event as the HSBC Road to Wimbledon National 14 and Under Challenge.{{cite web |url=http://www.wimbledon.org/en_GB/about/infosheets/officialsuppliers.html |title=Official Suppliers |work=wimbledon.org |access-date=12 November 2010}}

HSBC's other sponsorships are mainly in the area of education, health and the environment. In November 2006, HSBC announced a $5 million partnership with SOS Children as part of Future First.{{cite web |url=http://www.soschildrensvillages.org.uk/sos-childrens-charity/our-partners/hsbc-sos-partnership.htm |title=HSBC and SOS Children's Villages partnership |publisher=Soschildrensvillages.org.uk |date=8 October 2005 |access-date=18 April 2011 |archive-date=16 August 2009 |archive-url=https://web.archive.org/web/20090816093824/http://www.soschildrensvillages.org.uk/sos-childrens-charity/our-partners/hsbc-sos-partnership.htm |url-status=dead }}

In 2022, it was announced that Zhou Guanyu, the first Chinese F1 driver in history who made his debut a few months earlier, became an ambassador for the Chinese subsidiary of HSBC.{{Cite web |title=HSBC China agrees ambassador deal with F1 driver Zhou Guanyu |url=https://www.sportbusiness.com/news/hsbc-china-agrees-ambassador-deal-with-f1-driver-zhou-guanyu/ |website=sport business|date=17 June 2022 }}

From 1999 until 2011, HSBC's American division was the venue sponsor for the Buffalo Sabres of the National Hockey League (NHL), known as the HSBC Arena, which was renamed to FirstNiagara Center in 2011 after its divesture of its upstate New York bank branches to Buffalo-based First Niagara Bank before becoming KeyBank Center in 2016 following KeyBank's merger with First Niagara.{{cite news|title=HSBC Arena to Become First Niagara Center|first=John|last=Vogl|url=http://blogs.buffalonews.com/sabres/2011/08/hsbc-arena-to-get-new-name.html|newspaper=The Buffalo News|date=August 25, 2011|access-date=August 25, 2011|archive-url=https://web.archive.org/web/20111008222402/http://blogs.buffalonews.com/sabres/2011/08/hsbc-arena-to-get-new-name.html|archive-date=October 8, 2011|url-status=dead|df=mdy-all}}

Around 44% of HSBC shares are held by the general public and around 56% are held by institutions. The largest shareholders in early 2024 were:{{Cite web |title=HSBC Holdings plc Insider Trading & Ownership Structure |url=https://simplywall.st/stocks/gb/banks/lse-hsba/hsbc-holdings-shares/ownership |access-date=9 March 2024 |website=Simply Wall St |language=en}}

• BlackRock (8.9%)
• Ping An Asset Management (8.82%)
• The Vanguard Group (4.75%)
• Norges Bank (2.87%)
• Legal & General (1.89%)
• State Street Global Advisors (1.66%)
• HSBC Asset Management (1.12%)
• UBS Asset Management AG (1.05%)
• HSBC Holdings General Employee Benefit Trust (0.9%)
• Schroder Investment Management (0.71%)
• Northern Trust Global Investments (0.68%)
• Aviva Investors (0.64%)
• Royal London Asset Management (0.61%)
• Amundi (0.54%)
• Abrdn Plc (0.53%)

• Group Chairman: Sir Mark Tucker (October 2017 to present)HSBC Leadership (Board of Directors){{cite web |title=hsbc.com |url=http://www.hsbc.com/about-hsbc/leadership |access-date=7 December 2016}}
• Group Chief Executive: Georges Elhedery (September 2024 to present){{Cite web |title=Georges Elhedery Biography |url=https://www.hsbc.com/who-we-are/leadership-and-governance/board-of-directors/georges-elhedery |access-date=7 September 2024 |website=HSBC}}

The position of Group Chairman was formed in 1991; the preceding position, Chairman of The Hongkong and Shanghai Banking Corporation, has remained a separate position.

1. Sir William Purves (1991–1998); concurrently Group Chief Executive from 1991 to 1993{{cite news|url=https://www.managementtoday.co.uk/brain-food-sir-william-purves-i-start-again/article/418250|title=Sir William Purves - If I had to start again.|publisher=Management Today|date=1 December 2003|access-date=7 November 2022}}
2. Sir John Bond (1998–2006){{cite news|url=https://www.theguardian.com/business/2006/may/27/money|title=Sir John leaves HSBC after 45 years|date=27 May 2006|newspaper=The Guardian| access-date=7 November 2022}}
3. The Lord Green (2006–2010){{cite news|url=https://www.theguardian.com/business/2010/sep/07/hsbc-chairman-stephen-green-trade-minister|title=HSBC chairman Stephen Green to be trade minister|date=7 September 2010|newspaper=The Guardian| access-date=7 November 2022}}
4. Sir Douglas Flint (2010–2017){{cite news|url=https://www.theguardian.com/business/2017/may/05/hsbc-chairman-douglas-flint-interview-profile-profit-growth-scandal|title=HSBC chairman Douglas Flint recalls the good, the bad and the scandalous|date=5 May 2017| access-date=7 November 2022}}

The position of Group Chief Executive was formed in 1991; the preceding position, chief executive of The Hongkong and Shanghai Banking Corporation, has remained a separate position.{{Cite book|last=Lan|first=Rixu|title=Transformation of China's Modern Banking System|publisher=Enrich Professional Publishing|year=2015|isbn=978-1-62320-080-0}}

1. William Purves (1991–1993){{cite news|url=https://www.heraldscotland.com/news/12711279.hsbc-chairman-returns-from-exile-to-offer-some-home-truths/|title=HSBC chairman returns from exile to offer some home truths|date=4 November 1993|newspaper=Herald Scotland| access-date=7 November 2022}}
2. John Bond (1993–1998){{cite web|url=https://www.lboro.ac.uk/service/publicity/degree_days/degree_2000/bond.html|title=Sir John Bond|publisher=Loughborough University|year=2000|access-date=7 November 2022}}
3. Keith Whitson (1998–2003){{cite web|url=https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/7998485/Former-HSBC-chief-Sir-Keith-Whitson-joins-hiring-row.html|newspaper=The Telegraph|title=Former HSBC chief Sir Keith Whitson joins hiring row |date=12 September 2010|access-date=10 September 2016}}
4. Stephen Green (2003–2006)
5. Michael Geoghegan (2007–2010){{cite news|url=https://www.theguardian.com/business/2010/sep/23/hsbc-mike-geohegan-replaced-stuart-gulliver|title=HSBC chief Mike Geoghegan ousted after brutal boardroom battle|date=23 September 2010|newspaper=The Guardian| access-date=7 November 2022}}
6. Stuart Gulliver (2011–2018){{cite news|url=https://www.reuters.com/article/us-hsbc-results-breakingviews-idUSKCN1G41AG|title=Breakingviews - Gulliver exits HSBC with nearly full scorecard|date=20 February 2018|newspaper=Reuters| access-date=7 November 2022}}
7. John Flint (2018–2019){{cite news|url=https://www.theguardian.com/business/2019/aug/05/hsbc-boss-john-flint-resigns-by-mutual-agreement|title=HSBC boss John Flint resigns 'by mutual agreement'|date=5 August 2019| newspaper=The Guardian| access-date=7 November 2022}}
8. Noel Quinn (2020–2024){{Cite news |last=Patrick |first=Simon Clark and Margot |date=17 March 2020 |title=HSBC Appoints Noel Quinn as Permanent CEO |url=https://www.wsj.com/articles/hsbc-appoints-noel-quinn-as-permanent-ceo-11584469873 |access-date=22 September 2020 |work=The Wall Street Journal |language=en-US |issn=0099-9660}}

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