HSBC's killer move

Published: 06 October, 2003

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Sir John Bond: “The way a company behaves is going to be of crucial importance, the dominant feature of life in the 21st century.”

HSBC chairman Sir John Bond talks to Karina Robinson about the transformational impact of the bank’s acquisition of Household International.

The last time in its 138 year history that the Hong Kong and Shanghai Banking Corporation (HSBC) took such a transformational step was in 1992 when it bought Midland Bank, one of the UK’s main banks, vaulting it into the major league from its Hong Kong base. Its latest move, buying US consumer group Household International, is arguably even more revolutionary, as it brings a totally new business into the bank which executives see as being at the forefront of its expansion plans.