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HSBC Holdings plc is a British imperialist bank and holding company. It's the second largest bank in Europe, only falling behind the French BNP Paribas. It employs 226,059 workers in 53 countries and territories as of 2020.[1][2]
Founded in the context of opium trafficking in China,[3] the bank is known for its money laundering practices in connection with international drug trafficking cartels.[4]
References
- ↑ “During 2020, we reduced the number of employees expressed in full-time equivalent staff (‘FTE’) and contractors by 11,011. This included a 9,292 reduction in FTE to 226,059.”
HSBC Holdings plc (2020). Annual report (p. 29). [PDF] - ↑ “We support over 1.3 million business customers in 53 countries and territories, ranging from small enterprises focused primarily on their domestic markets to large companies operating globally.”
HSBC Holdings plc (2020). Annual report (p. 32). [PDF] - ↑ “Several large commercial houses were organized to control the Shanghai trade, under the management of foreign merchants, mostly British. The several most well known and prominent commercial houses established with in this seventy years were the "Hongkong and Shanghai Banking Corporation", the "Shanghai Steam Navigation Company" the "Oriental Banking Corporation" and the "China Merchants Stearn Navigation Company." Among the various items of foreign trade, opium and cotton were the major items of imports which amounted to roughly 75% of total imports annually.”
Gerald Tsai Jr. (1949). The economic development of Shanghai, 1842-1910. [PDF] - ↑ "HSBC's $1.9B money laundering settlement approved by judge" (2013-07-03). CBC News. Retrieved 2022-02-08.