Page 166 - Bank Case Studies
P. 166
1997 Acquisitions in South America started with the purchase
of the Banco Bamerindus of Brazil for $1bn.
1999: HSBC Holdings is established as the bank moves into
private banking by acquiring Republic New York
Corporation and Safra Republic Holdings.
2000 Apr Acquisition of Credit Commercial de Francea Bank, France
for £6.6bn.
2001 Acquisition of Demirbank an insolvent Turkish bank.
2002 Aug: HSBC acquires Grupo Financiero Bital in Mexico.
2003 Jun:
Stephen Green, formerly
responsible for private banking,
takes over as HSBC group chief
executive.
2004 Acquisition of 19.9% of the Bank of Communications of
Shanghai, China
2004 Acquisition Marks & Spencer Retail Financial Services
Holdings Ltd (U.K.) for £763m
2006 May: Green becomes HSBC chairman.
2006 Acquisition of 90 branches in Argentina from Banca
Nazionale del Lavoro for $155m.
