HSBC

HSBC Group is one of the largest banking and financial services organisations in the world. It was rated the world's largest banking group in 2008 in terms of market value. It has around 9,500 offices in 85 countries, headquartered in London. It operates as HSBC Bank in the UK.

People

Board of directors (February 2009)

• Stephen Green, Group Chairman. Group Chief Executive from 2003 to May 2006. Joined HSBC in 1982. Chairman of The British Bankers' Association.
• Michael Geoghegan, CBE, Group Chief Executive. Joined HSBC in 1973. A non-executive Director and Chairman of Young Enterprise.

PR and lobbying

Internal

• Richard Beck, former group comms director until May 2011, after two decades with HSBC
• Martin Lord, UK head of comms and government relations
• Miles Celic, government relations manager. Previously a consultant at Fishburn-Hedges' public affairs practice (left in February 2007).
• Richard Lindsay, head of media relations

External

• Burson-Marsteller. Public affairs: the work, to be led by Gavin Grant at B-M, will include “more strategic planning” and “active engagement”. B-M will stress how HSBC has “managed a different path to domestic UK banks”. B-M won the account from Bell Pottinger Public Affairs which held it for the previous 7 years.
• Cicero Consulting. Provides lobbying to HSBC Group.
• Open Road. Provides public affairs to HSBC.
• Maitland. Providing financial PR.

Revolving Door

• U.K. Life Peer Frederick Butler, Lord Butler of Brockwell, a former Treasury official and Cabinet Secretary was a Non-executive HSBC Holdings plc from 1998 to 2008.
• U.K. Life Peer Lydia Dunn, Baroness Dunn of Hong Kong Island and Knightsbridge, was a Director of HSBC Holdings plc (previously Hong-Kong and Shanghai Banking Corporation) from 1981 to 2008.
• Paul Geradine, Director of Listings at the Financial Services Authority until 2001, subsequently joined HSBC as a director in its equity capital markets division.
• Rachel Lomax, an independent Non-executive director since December 2008, was Permanent Secretary at the UK Government Departments for Transport and Work and Pensions and the Welsh Office from 1996 to 2003. She was also was Deputy Governor, Monetary Stability, at the Bank of England and member of the Monetary Policy Committee until June 2008.
• Sir Roderic Lyne, former Ambassador to Moscow, was appointed an Advisor to HSBC in December 2004.
• U.K. Life Peer Robert May, Baron May of Oxford, is a paid member of HSBC Corporate Social Responsibility Board.
• HSBC employee Nick Stephens was seconded to the Department for Trade and Industry from 2001 to 2003 to work as an Export Promoter.
• Nicholas Stern, Lord Stern of Brentford, the former Head of Government Economic Service at HM Treasury and an advisor to the Cabinet Office, is an Advisor to the Chairman of HSBC Holdings plc on economic development and climate change.

Use of Tax Havens

Research by anti-poverty campaign group ActionAid in October 2011 revealed that HSBC was biggest financial sector user of tax havens in the FTSE 100, with a grand total of 556 subsidiaries based there.

HSBC also has 156 companies in the US state of Delaware (another known tax haven), compared to 97 in the rest of the USA.

Contacts

Head office London: 8 Canada Square, London E14 5HQ

This article is part of the Revolving Door project of Spinwatch.

Resources

• APPC, APPC Register Entry for 1 December 2009 to 28 February 2010, accessed 30 January 2011.
• CFOI, Individuals on Secondment to the Department of Trade & Industry, accessed 30 January 2011.
• Debrett's, The Rt Hon Sir Roderic Lyne, KBE, CMG, accessed 30 January 2011.
• HSBC, Biography - Sir Nicholas Stern, News Archive 2007, accessed 30 January 2011.
• HSBC, Board of Directors, accessed February 2009.
• Independent, "FSA names listing chief," 10 May 2001.
• Peel, Lilly, "Business big shot: Rachel Lomax of HSBC," 22 November 2008, The Times, accessed 30 January 2011.
• PR Week UK, "Banking industry Insider's Guide: UK banks' Reputation Managers," 03 October 2008, accessed 30 January 2011.
• Singleton, David, "HSBC puts Bell Pottinger account out to tender," 12 June 2008, PR Week, accessed 30 January 2011.
• UK Parliament, Register of Lords' Financial Interests, accessed 30 January 2011.
• Who's Who 2009, BUTLER OF BROCKWELL, online edition, Oxford University Press, accessed 24 March 2009.
• Who's Who 2009, DUNN, online edition, Oxford University Press, accessed 24 March 2009.