HSBC in Bermuda

HSBC Bermuda is a leading provider of financial services in Bermuda, serving individuals, institutions and corporations locally and globally.

Head office

HSBC Bank Bermuda Limited, 37 Front Street, Hamilton HM 11, Bermuda.


Management team

Find details of our management team in Bermuda, including Chief Executive Officer Steve Banner, the Executive Management Committee and the Board of Directors.

Corporate governance

Details of the principles that govern the structure and conduct of the Board and the responsibilities of the Audit and Risk Committee can be found in the corporate governance section.

HSBC Bermuda Purpose Statement

    • Helping our customers achieve their goals and aspirations
    • Developing people both within HSBC and the broader community in Bermuda
    • Contributing to our community as a responsible corporate citizen
    • Connecting the Bermuda economy, companies and individuals operating and investing in Bermuda to the rest of the world
    • Remaining steadfast in the fight against financial crime to protect our customers

Community

At HSBC Bermuda, we are aligned with HSBC’s global community investment strategies and are committed to supporting initiatives such as future skills (employability and financial literacy) as well as charities and programmes focused on local community priorities. Below are some examples of how HSBC Bermuda has supported our local community through donations and staff volunteering activities in 2020.

Donations

Donations are defined as money given to registered charities in Bermuda. These partnerships are strictly for philanthropic purposes.

Donation Application Form
HSBC donation criteria check list (1-page PDF 66KB)
HSBC donation application form (4-pages PDF 95KB)

Supporting future skills (employability and financial literacy initiatives)

The Coalition for the Protection of Children | Roots for Success Programme
The Roots for Success Programme is a job-readiness training programme that employs an evidence-based, multi-media, educational curriculum and work placement to connect education to employment. Since partnering with the charity in 2018, an estimated 97 individuals participated in various phases of the programme, with 18 people successfully securing employment.

The Women’s Resource Centre (WRC) | Transformational Support Services
The Transformational Support Services programme will assist 40 women over a three-year period, who may be considered under-employed, under-educated, and/or disenfranchised, to secure employment and become self-sufficient in order to confidently provide for themselves and their families. In 2019, qualified HSBC financial advisors also delivered financial workshops on debt management principles to the women participants.

Bermuda High School Charitable Trust | She Leads: A Real World Readiness Summer Intensive
This public/private partnership was offered to 15 students from Bermuda High School (BHS) and 15 students from The Berkeley and Cedarbridge Academy and sought to connect young women in Bermuda during a week-long summer intensive programme, held in July 2019. The programme is designed to inspire and equip students with tools and frameworks and confidence as they journey through their education, careers and lives. ‘She Leads’ will take place again in July 2021.

Knowledge Quest | HSBC – Knowledge Quest Scholarship
In 2020, HSBC awarded six students with university scholarships through Knowledge Quest and also provided them with HSBC mentors to further support their academic journeys.

Youth Entrepreneurship Initiative | Youth Business-Education Initiative (YBEI)
Now in its third year, The Youth Entrepreneurship Initiative aims to revamp the enterprise education curriculum within M1-M3 government middle schools. Its foremost objective is to help today’s youth become the business leaders, social advocates, community volunteers and forward-thinking citizens of tomorrow through learning about core business principles and entrepreneurship.

Community and local priorities

COVID-19 Donations
Due to the global pandemic a large cross-section of our community has been confronted by extremely difficult challenges which has also meant an increase in demands on our charitable sector. HSBC has provided funding to six local charities which support the provision of critical services and support to Bermuda’s vulnerable population.

HSBC Staff Give Back Programme | PALS & Centre Against Abuse
The PALS charity provides care to terminal cancer patients, primarily in their home settings to enhance their quality of life. The organization also provides emotional, physical and social support to its patients as well as support and to their respective families. The charity was nominated by HSBC staff to receive a donation during the pandemic to support the oncology nurses in their daily house visits to patients, therefore providing essential relief to cancer patients and their families.

The Centre Against Abuse charity provides essential services and support to victims of domestic abuse and sexual assault in our community. During the pandemic, the charity secured 5 safe havens to provide shelter and safety to those individuals and families facing domestic abuse. The organization was selected by HSBC staff to receive a donation to assist the charity’s efforts in its provision of crisis management counselling, legal support, food and essential vouchers for the impacted families.

Age Concern | Senior’s Hardship Fund
In 2020, HSBC supported Age Concern’s Senior’s Hardship Fund which provides groceries, prescription drugs, food and minor home repairs to 2,000 qualifying seniors. Participants also have free access to discounts, concessions from local businesses as well as information seminars.

The Coalition for the Protection of Children | Toys for Tots and Holiday Food Hampers
Now in its 18th year, the Toys for Tots appeal receives an estimated 2,000 donated gifts from the public annually for disadvantaged children in our community. In its 4th consecutive year of partnership with the charity, HSBC staff will continue to help the charity in its appeal through gift-wrapping donated items and providing 100 holiday food hampers for families facing food insecurities.

The Eliza DoLittle Society (TEDS) | HSBC – TEDS Feeding Programme and Holiday Food Hampers
TEDS charity helps alleviate the issue of food insecurity in Bermuda. From 2016, HSBC has supported the TEDS-HSBC volunteer feeding programme by subsidizing the costs of food and groceries which are distributed through TEDS’ food bank to the community. To date, 1,200 HSBC staff members have volunteered over 3,600 hours to the programme, and distributed an estimated 27,600 meals to our community. Annually, HSBC also donates 125 holiday food hampers to the food-insecure seniors through the charity.

The Bermuda Diabetes Association (BDA) | Know Your Medicine Programme
The BDA charity works closely with the community, physicians and allied health professionals to provide solutions and programmes to the community as they strive to combat type 2 diabetes and address the growing obesity problem. Through its efforts The Bermuda Diabetes Association offers the community ‘Know Your Medicine’ workshops for individuals with diabetes which covers comprehensive basic self-care skills in managing diabetes, blood sugar monitoring, medicinal care, as well as nutrition and meal planning. HSBC provides funding to the charity to support their delivery of these important sessions to the impacted members of our community.

Interagency Committee for Children and Families (IAC)
Human service providers have the challenging yet critical job of supporting families in overcoming adversity. It is critical that these professionals have the knowledge, skills, and emotional competencies necessary to create positive and nurturing relationships to build resiliency in their clients. The goal of the Capacity Building for Human Services and Helping Agencies is to increase the programmatic capacity and service standards of agencies serving children and families, in particular vulnerable children and families. HSBC supports the IAC’s delivery of training to these individuals and organisations including topics around trauma and adverse childhood experience awareness, advocacy, ethical best practice, social programme design and evaluation, Bermuda National Standards Committee certification (BNSC) and accreditation, board development, fundraising, compliance training, as well as personal development.

Focus Counselling Services
The Focus Counselling Services Drop-in Center provides referral and support services to adults with Substance Use Disorder as well as breakfast and lunch to the homeless, vulnerable, and less fortunate members in the community. The charity’s Feeding Programme is designed to increase access to food security for the less fortunate and the vulnerable in Bermuda through the preparation and serving of daily nutritious meals to those in need. In addition to helping individuals meet their basic needs, the charity also serves the community through its provision of assessments, screenings and outpatient treatments to adolescents, men and women who may be impacted by substance use disorder. HSBC provides funding to the charity in support of its Feeding Programme and Drop In Center.

1865
 
2021

Hong Kong harbour, Chinese artist, early 1860s

Staff in Fuzhou, China, 1887

Portrait of Thomas Jackson, around 1890

Chinese railway bond certificate, 1907

Staff in military uniform, First World War

Hong Kong building, 1965

Prison camp diary of HSBC staff member Max Haymes, 1943

Hong Kong garment factory, around 1950

Persian banknote, early 20th century

UK cash machine, around 1970

HSBC office, New York, 1999

HSBC lion, London, present day

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The Hongkong and Shanghai Banking Corporation Limited opened in Hong Kong on 3 March 1865 and in Shanghai one month later. It was the first locally owned bank to operate according to Scottish banking principles.

By 1875 HSBC was present in seven countries across Asia, Europe and North America. It financed the export of tea and silk from China, cotton and jute from India, sugar from the Philippines and rice and silk from Vietnam.

By 1900, after strong growth under Chief Manager Thomas Jackson, the bank had expanded into 16 countries and was financing trade across the world. Bullion, exchange and merchant banking were important features of the bank’s business.

In the early 20th century, HSBC widened the scope of its activities in Asia. It issued loans to national governments to finance modernisation and infrastructure projects such as railway building.

The First World War brought disruption and dislocation to many businesses. By the 1920s, however, Asia was beginning to prosper again as new industries developed and trade in commodities such as rubber and tin soared.

The 1930s brought recession and turmoil to many markets. Nonetheless, HSBC asked architects Palmer and Turner to design a new head office in Hong Kong: “Please build us the best bank in the world.” The cutting-edge art deco building opened in 1935.

The bank faced one of its most challenging times during the Second World War. Staff in Asia showed huge courage in the face of adversity. Many became prisoners of war. Only the London, Indian and US branches remained in full operation.

At the end of the war, HSBC took on a key role in the reconstruction of the Hong Kong economy. Its support helped established manufacturers as well as newcomers to Hong Kong grow their business.

By the 1970s the bank had expanded through acquisition. HSBC bought Mercantile Bank and The British Bank of the Middle East in 1959. In 1972 it formed a merchant banking arm, extending its range of services.

In the 1980s HSBC bought Marine Midland Bank in the US. In 1992, the newly created HSBC Holdings plc made a recommended offer for full ownership of the UK’s Midland Bank. Following the acquisition, HSBC moved its headquarters to London.

In 1998, the bank announced it would adopt a unified brand, using HSBC and the hexagon symbol everywhere it operated.

Our purpose – Opening up a world of opportunity – explains why we exist. We’re here to use our unique expertise, capabilities, breadth and perspectives, opening up a world of opportunity for our customers.

Five climate trends for 2021

6 January 2021

HSBC’s Daniel Klier examines the themes likely to dominate the run-up to the COP26 conference in November.

A dose of optimism

22 December 2020

Vaccine breakthroughs should usher in a brighter dawn for global economic prospects for 2021, says HSBC’s Janet Henry.

Decisive decade ahead for climate finance

10 December 2020

Progress has been made in the five years since the Paris Agreement – but bigger changes are coming.

 

 

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