HSBC Group : advertising & marketing profile

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HSBC is one of the world's largest financial services companies, with an international network that still spans the globe, although several under-performing territories have been exited since 2011. Until the 1990s the group was best-known as Hong Kong's biggest financial institution, originally founded in the 19th century to finance trade between Asia and the West. But a string of acquisitions around the globe, starting with the UK's Midland Bank, transformed the business into arguably the world's most broadly based financial institution, with significant operations on every continent. Later purchases included US bank Republic New York, consumer finance lender Household International, CCF in France and Grupo Bital in Mexico, all absorbed into the main HSBC umbrella brand. Though less badly affected by the 2008 banking crisis than some competitors, the former Household operations in the US proved a massive drain on otherwise strong performance. A series of regulatory problems have led to other concerns, and the bank began pulling out of less profitable territories to refocus its attention on Asia and only more lucrative international markets.

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Adbrands Company Profiles provide a detailed analysis of the history and current operations of leading advertisers, agencies and brands worldwide, and include a critical summary which identifies key strengths and weaknesses. Adbrands Account Assignments tracks account management for the world's leading brands and companies, including details of which advertising agency handles which accounts in which countries for major markets. Subscribers may access the following website links:

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HSBC Personal Financial Services First Direct
HSBC Commercial Banking HSBC Corporate & Investment Banking
Hang Seng Bank HSBC Private Bank
HSBC Premier GM Credit Card
HFC Bank HSBC Trinkaus & Burkhardt
Beneficial Union Plus

Recent stories from Adbrands Weekly Update:

Adbrands Weekly Update 22nd Feb 2018: There were mixed results so far for British banks. Lloyds Banking Group celebrated what it called a "landmark year" with net profit up 41% to £3.5bn, despite setting aside another £1.65bn to settle complaints of PPI mis-selling. Total provisions for PPI now total £18.7bn. Total income rose 6% to £18.5bn. HSBC wrote off almost $1.8bn against loans to collapsed UK construction company Carillion and South African retail group Steinhoff and other provisions, and also warned it could face more than $1.5bn in fines for money laundering and tax evasion in its private banking division. Yet even with those exceptional items, net profit more than tripled to $11.9bn on revenues up 11% to $49.7bn. Barclays reported pretax profit of £3.5bn, up 10%, on revenues down 2% to £21.1bn. However US tax reforms and a large loss on the sale of its ABSA division in Africa resulted in a net loss of £1.9bn.

Adbrands Weekly Update 4th Jan 2018: Ads of the Week: "Global Citizen". The delightfully odd British comedian Richard Ayoade makes a superb front man for J Walter Thompson London's new Brexit-defying campaign for HSBC bank. A misguided 52% of the electorate may believe we would be better standing alone and apart, but at least HSBC recognises that we Brits are global citizens to our very core, even if we don't realise it. A fine ad, and a great (much-needed) return to form for JWT UK. 

Adbrands Weekly Update 4th May 2017: There were more strong numbers from UK banks, which seem all to have finally turned the corner after years of struggle with impairments, fines and litigation. Like Lloyds last week, Barclays doubled its underlying profits for the first quarter, though the final reported figures were dented by a £658m loss on the sale of Africa subsidiary Absa. Revenues were also up strongly by 16%. Meanwhile Royal Bank of Scotland reported a much higher than expected profit after years of losses. Analysts had been anticipating a £50m net profit, but instead RBS delivered almost £260m, compared to a loss of £960m in the year ago quarter. Topline was up 14%. HSBC also made up for a string of disappointing numbers last year with a 40% jump in revenues and underlying profits that were also well above expectations.

Adbrands Weekly Update 27th Apr 2017: HSBC completed its long search for a new marketing chief to succeed Chris Clark. It named Mondelez executive Leanne Cutts to the role. She was previously president for gum, candy & beverage at Mondelez Asia Pacific.

Adbrands Weekly Update 23rd Feb 2017: There were winners and losers among British banks, all reporting this week. The clear winners are Lloyds and Barclays. With the worst of their regulatory problems and PPI provisions now in the rear mirror, and their respective commercial banking businesses reaping the rewards of the post-Trump boom, both saw dramatic improvements in performance, at least on paper. Lloyds' statutory net profits more than doubled to £2.5bn, though total income slipped back to £17.3bn. Barclays did even better, with net profit soaring to £1.6bn, compared to a £394m loss in 2015, on revenues down slightly to £21.5bn. The biggest contributor to profitability in both cases was a sharp fall in provisions for conduct and litigation charges. By contrast, the losing side was represented by HSBC and RBS. Divestments and slowing growth in Hong Kong and the UK caused HSBC's revenues to fall to $59.84bn, their lowest level since 2004. Impairments, losses on those divestments and high tax charges prompted net profit to plunge by 77% to $3.45bn. RBS results are out tomorrow and are expected to show another huge loss, marking the struggling bank's 9th consecutive year in the red. A huge provision for mis-sold US mortgage securities resulted in a deficit of as much as £7bn.

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