In November 1998, the HSBC Group announced a unified brand. Almost all subsidiaries in its business areas adopted the HSBC brand and hexagonal logo, and some of the Hongkong and Shanghai Banking Corporation's offices outside the Asia-Pacific region also adopted it. The HSBC brand's network of local subsidiaries (for example, some of the branches of The Hongkong and Shanghai Banking Corporation in the UK are integrated into the HSBC UK network). Unifying the Group's brand can deepen customers, shareholders and employees around the world's understanding of the Group and its beliefs. It can also help HSBC launch new products and services under the same Group image around the world. HSBC Holdings also listed on the New York Stock Exchange in 1999, split its shares into three shares, and changed the par value of its shares from British pounds to U.S. dollars. In 2000, the acquisition of Commerzbank replaced Commerzbank's listing status on the Paris Stock Exchange. Since 2002, HSBC has used "The world's local bank" as its group slogan, emphasizing that the group has rich experience in many markets and has a thorough understanding of cultural characteristics around the world. In 2004, the Bank of Bermuda's listing on the Bermuda Stock Exchange was replaced by the acquisition of Bank of Bermuda.
As usual, HSBC Holdings will review the location of the group’s general management office every three years. However, in October 2006, there were reports that the general management office of HSBC Group might move away from London. Some analysts said that since the uncertainties after the handover of Hong Kong's autonomy have been eliminated and the situation has stabilized, they cannot rule out returning to Hong Kong because the British The tax rate is much higher than that in Hong Kong, and the scope of taxation and tax types are also broader and more numerous than in Hong Kong. This requires HSBC Holdings to bear high taxes. Every year, HSBC Holdings pays as much as 400 million pounds in taxes to the British government. In addition to Hong Kong, some British newspapers pointed out that the general management office of HSBC Group may be moved to Ireland, but an HSBC spokesperson immediately denied it. Ji Qin, CEO of HSBC Holdings, said that the UK has a geographical advantage and can quickly connect business networks with various places. He is quite satisfied with the current group general management office.
In February 2007, HSBC Holdings issued a profit warning for the first time. Chairman Ge Lin said that the reason was that its subsidiary HSBC Capital had made strategic mistakes. Ge Lin pointed out that HSBC Capital developed the mortgage business, which was not its core business. , but HSBC Holdings has no intention of selling HSBC Capital. This is the first profit warning issued by HSBC Group in its 140-year history.
On November 26, 2007, HSBC Holdings announced the reorganization of two of the group's structured investment vehicles (SIV), Cullinan Finance Limited and Asscher Finance Limited. It is expected to provide up to approximately US$35 billion in liquidity and term financing by August 2008 and add a total of US$45 billion in mortgage-backed securities and other assets held by the two SIVs to its own balance sheet.
On June 17, 2008, HSBC sold a 51% stake in its credit card acquiring business in the UK to Global Payments, one of the world's largest transaction processors, for US$439 million, and established a company named As a joint venture of "HSBC Merchant Services", on June 12, 2009, HSBC sold its 49% stake in HSBC Merchant Services to its partner Global Payments for US$307.7 million.
On September 19, 2008, HSBC Holdings announced that it would abandon its plan to acquire a 51.02 stake in Korea Exchange Bank for US$6.317 billion (approximately HK$49.3 billion) in view of the reduction in asset value due to the international credit crisis.
On September 19, 2008, HSBC sold its 18.68 stake in Mexican consumer credit institution Financiera Independencia for 1.568 billion pesos (approximately US$145 million)
2008 On October 21, HSBC Holdings announced that through its subsidiary HSBC Asia Pacific Holdings, it would acquire an 88.89 stake in PT Bank Ekonomi Raharja Tbk ("Bank Ekonomi"), one of Indonesia's largest industrial and commercial banks, with US$607.5 million of internal cash. After the transaction is completed, HSBC will With 190 branches in 24 cities in Indonesia, it has become the third largest foreign bank after Standard Chartered Bank and Citigroup.
On March 2, 2009, HSBC Holdings ended its consumer loan business under the HFC and Beneficial brands of HSBC Capital USA, and will focus on reducing its secured and unsecured real estate portfolios, which respectively involve outstanding balances of US$46 billion and US$16 billion. At the same time, it will continue to reduce its auto financing and other unsecured personal loan business, with a total asset portfolio of US$100.4 billion, leaving a consumer loan business portfolio related to credit cards of US$46.6 billion. After fulfilling its commitments to customers, most branches will also be closed and 6,100 employees will be laid off, saving US$700 million in annual costs.
On March 2, 2009, HSBC Holdings will issue 5,060,239,065 million shares at a rights price of 254 pence per share, equivalent to HK$28.1 per share, at a ratio of five shares for every twelve shares. New Ordinary Shares raised net capital of 12.5 billion pounds (US$17.7 billion, HK$138.4 billion). It announced its 2008 annual results on the same day. Net profit fell by 7 billion to 5.728 billion US dollars year-on-year, setting a new low since 2002. The decline broke the historical record. Earnings per share It was reduced to 47 cents, and the fourth quarter dividend was only 10 cents. Pre-tax profit also decreased by 6.16% to US$9.307 billion.
On March 9, 2009, before the end of the closing auction period, the stock price of Huihu Holdings was still at 37.5 yuan, a decrease of 14% from the previous trading day. Just ten seconds before the end, the stock price dropped from 37.3 yuan a piece. The price "mark" fell by more than 10 yuan, closing at 33 yuan per share, a full drop of 4.3 yuan, extending the single-day decline to 24 yuan. HSBC Asia Pacific Chief Executive Officer Fok Jiazhi revealed the next day that the change in stock prices was believed to be due to low stock prices by market makers or hedge funds.
On September 25, 2009, HSBC announced that the group’s president’s office would be transferred from London to Hong Kong on February 1, 2010, in order to strengthen the development of the Asia-Pacific market.
On October 5, 2009, HSBC sold the company’s headquarters at 452 Fifth Avenue in New York to two subsidiaries of the Israeli IDB Group, Koor Industries and Property and Building, for US$330 million in cash. After the property is acquired, HSBC will lease the above-mentioned property units for a period of 10 years. IDB will receive US$45 million (approximately HK$350 million) in rental income in the first year, and operating expenses during the same period will total US$18.5 million. The buyer is a real estate company owned by the large Israeli group IDB Holding. On October 4, it announced an agreement with HSBC to purchase HSBC’s building portfolio in downtown New York, USA, for US$330 million, including the 29-story building at 452 Fifth Avenue. HSBC Tower, and the 11-story building at 1 39th Street West, ***865,000 square feet
On October 23, 2009, its subsidiary HSBC Insurance increased its holdings in Vietnamese insurance company Bao Viet (BV )'s equity was increased from 10% to 18%, involving US$10.53 million (approximately HK$821 million).
On October 28, 2009, HSBC Holdings and Bank of Communications transferred their existing Chinese credit card cooperation business into a new joint venture. HSBC Holdings and Bank of Communications planned to establish a cooperation agreement on Pacific Credit Card. On the same day, a new joint venture company was formed, called Bank of Communications & HSBC Pacific Credit Card Company Limited, with an expected initial registered capital of RMB 2.5 billion (approximately US$368 million). Bank of Communications will inject RMB 2 billion into the joint venture and hold 80% of the shares. HSBC Holdings will inject RMB 1.158 billion and hold 20 shares. The capital contribution includes a premium of RMB 658 million on the corresponding equity capital.
On November 11, 2009, HSBC Capital sold its auto financing loan management department and US$1 billion in loan balances for US$904 million (approximately HK$7.05 billion). To Spanish bank Santander Consumer USA Inc
On November 14, 2009, HSBC Holdings sold London to The headquarters was sold to South Korea's National Pension Fund (NPS), and the transaction was completed entirely in cash. The HSBC headquarters in Canary Wharf on the Thames River in London is 44 storeys tall and is the second tallest building in the UK. After the transaction is completed, HSBC will lease back the headquarters building from the new owner at an annual price of 46 million pounds for 17 and a half years.
On December 18, 2009, HSBC Holdings sold HSBC Insurance Brokers, the ninth largest insurance brokerage company in the UK, to insurance brokers and Risk management company ─ Marsh, HSBC will receive a consideration of ￡135 million in shares and cash from Marsh's parent company Marsh Group Limited
December 2009 On the 21st, HSBC Holdings sold its French headquarters, including two buildings at 103 Champs Elysées and 15 rue Vernet in Paris, for 400 million euros (approximately HK$4.451 billion), totaling 357,000 square feet to French fund French Properties Management, and plans to lease the property back in the next nine years after the sale
HSBC has successively sold headquarters properties in London, New York and France, cashing out approximately HK$16.7 billion in total.
On December 25, 2009, HSBC Holdings injected 6.29 billion Mexican pesos, equivalent to US$487.5 million (approximately HK$3.8 billion), into its subsidiary HSBC Mexico (Grupo Financiero HSBC).
On February 20, 2010, HSBC USA sold 20% of the common shares and 100% of the preferred shares of Wells Fargo HSBC Trading Bank to Wells Fargo for US$171 million. After that, HSBC would Expand business in the region. Wells Fargo HSBC Trade Bank is a joint venture established by HSBC and Wells Fargo in 1995. It mainly provides trade financing services to medium-sized enterprises in 18 states in the United States.
On August 1, 2011, HSBC announced that it would lay off 30,000 employees. HSBC CEO Stuart Gulliver announced at a press conference on Monday that HSBC plans to cut 30,000 jobs by 2013. In addition to the 5,000 already announced, 25,000 positions will also be eliminated. This is part of HSBC's overall cost-cutting strategy.