HSBC Holdings

Scotsman Thomas Sutherland founded HSBC in Hong Kong in March 1865, opening its first office in Shanghai the following month. The bank's purpose was to support local Asian and global trade in key commodities such as tea, cotton, silk, and sugar. HSBC expanded into investment banking and into new retail markets, including the U.K., with its 1992 acquisition of Midland Bank and the US through Marine Midland. Although headquartered in London, its strategic growth is focused on Asia and international clients, with renewed expansion in major Asian markets.