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financial institution with a unique focus on serving local

markets.

Originally HSBC is like the diplomatic service opening

legations and embassies in new countries/markets to

finance the growing trade between e.g. China and the

United Kingdom.

It attracted customers from different global markets that

would also enhance its financial earnings and ensure its
financial success in the banking industry and becoming the

second largest bank in the world.

However, its structure was akin to a holding company or

international business rather than a highly integrated,

multinational, global one.

Its position as the world’s ‘local bank’ enabled it to approach

each country uniquely, blending local knowledge with a

worldwide operating platform. But, decision making, to a

great extent, resided in the subsidiary.