Sir John Bond at HSBC: The End of an Era?
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Code :LDS0023
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Region : Hong Kong |
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Sir John Bond at HSBC Bond, the Chairman of HSBC Holdings, joined HSBC in 1961 when he was 19 years old. He worked in various capacities atHSBC before he was appointed as the chief executive (Box 1). In 1993, with Bond’s appointment as the chief executive the bank began to grow vigorously.4 The Midland Bank was acquired in UK that resulted in the doubling of the HSBC’s assets. In 1998, Bond became the chairman ofHSBCgroup. Share prices almost doubledwhen John became the chairman of HSBC group in 1998.5 Under John Bond’s Chairmanship, HSBC forayed into emerging markets such as Argentina and Brazil... The End of an Era? HSBC on November 28th 2005 signaled the end of an era when it announced that the long serving chairman Sir John Bond was to retire after 45 years. The shares of HSBC fell to £9.40 upon the announcement of his retirement (Exhibit 3). According toCharlesDallera, theManagingDirector of Institute of InternationalFinance17 , Bond had demonstrated that with the highest standards of conduct one could run a global, world-class successful banking organization.18 Analysts felt that Bond was leaving a legacy behind at HSBC.19 Some analysts were, however, of the opinion that despite Bond’s legacy, Green could also be a very formidable and successful chairman... Stephen Green’s Profile StephenGreen (Green) joinedHSBCin 1982. He took over the responsibilities of corporate planning activities. In 1985, he was in charge of the Global Treasury operations. In 1992, he became the group treasurer of HSBC Holdings with responsibility for the HSBC group’s treasury and capitalmarkets globally. He wasmade the Director of HSBC Bank in 1995. In 1998, Green was appointed Executive Director of Investment Banking andMarkets for Investment banking, Asset-management and PrivateBanking activities. In 2002, he assumed responsibility forCorporateBanking business. In May 2003, he took over as the Chief Executive of the whole group. Green spend around 20 years in the bank and adhered to the corporate culture of HSBC.Greenwould take over as the chairman of HSBCholdings from May 2006... |
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