- HSBC Holdings is one of the largest banking and financial services groups in the world, operating in over 80 countries with over 100 million customers. - The goal of Chairman John Bond was to make HSBC "the world's local bank" by creating a seamless enterprise from its acquisitions while still maintaining local management, customers, lending, and deposits. - HSBC differentiated itself from competitors by requiring regulatory approval from London for transactions over $50 million, unlike competitors who gave local managers more autonomy over lending decisions.

1. HSBC HOLDINGS Case 2-3

4. HSBC Holdings “ Today we are a contender and not yet the champion. We aim to change that.” --Sir John Bond, HSBC Holdings Group Chairman

11. HSBC Control and Management HSBC’s traditional strategy was to invest surplus profits from its dominant position in Hong Kong elsewhere to improve their performance In 1998, HSBC overlaid “customer groups” upon its existing geographic organization which centralized and shared best practices in product development, management, and marketing

12. How HSBC Differed from Competitors All transactions exceeding $50 million were submitted to London for same-day approval which required regulatory parameters. This differed from competitors who let local managers decide what to distribute

14. HSBC Character Frugality has always been a virtue at HSBC where all staff fly economy class, including Chairman Bond. Bond took the subway to work and encouraged staff to turn off office lights at night. HSBC created a program called International Managers for young recruits which gave them insight into the company and placed a value on determination and hard work

15. HSBC’S Branding Techniques After talks about possible decentralization, HSBC took a major turn around and formulated a new strategic plan. In 2002, HSBC rolled out the tagline “the world’s local bank” with $50 million spent on advertising. “ The global piece differentiated us, and the local piece made us relevant to local customers. ” --HSBC manager