Department of Business Administration (Lucknow University)

DEPARTMENT OF BUSINESS ADMINISTRATION (LUCKNOW UNIVERSITY)
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ACKNOWLEDGEMENT
We take this opportunity to acknowledge our deep sense of gratitude to faculty members for giving us an opportunity to work together in cordination and come up with a detailed analysis of the workings of HSBC India. We are grateful to all the faculty members who explained us the objectives of the work done at provided every kind of help we needed during the for extending their valuable guidance in every stage for completion of this project. We are also grateful to our colleagues who extended their cordial support to complete this term paper.
Ankit Kumar
Mohit Kumar
Neha Singh
Pratadran Pandey
INDEX OF CONTENTS
DEPARTMENT OF BUSINESS ADMINISTRATION (LUCKNOW UNIVERSITY) Page 2
TOPICS
PAGE NUMBER
1: ABOUT HSBC 2. EARLY CHALLENGES 3. MAKING OF MODERN HSBC 4. BOARD OF DIRECTORS 5. HISTORY OF HSBC INDIA 6. HSBC GROUP MEMBERS IN INDIA 7.ROLES AND FEATURES AT A GLANCE 8. PRIVATE BANKING AND GLOBAL BANKING 9. COMMERCIAL BANKING 10. CORPORATE BANKING 11. OBJECTIVES 12. SCOPE AND VENTURES 13.CLIENT MANAGEMENT 14.WHY HSBC 15.CULTURE AND DIVERSITY 16. INDIA : FROM THE EYES OF HSBC 17.REFERENCES 18. ANNUAL RESULTS AS ENCLOSURE
04 05 07 09 14 15 16 17 18 19 22 23 25 26 27 31 32
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About HSBC
Who is HSBC?
They are the world's local bank. Headquartered in London, HSBC is one of the largest banking and financial services organisations in the world. HSBC's international network comprises around 7,500 offices in 87 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With listings on the London, Hong Kong, New York, Paris and Bermuda stock exchanges, shares in HSBC Holdings plc are held by over 221,000 shareholders in 127 countries and territories. The shares are traded on the New York Stock Exchange in the form of American Depositary Receipts. HSBC provides a comprehensive range of financial services to around 95 million customers through four customer groups and global businesses: Personal Financial Services (including consumer finance); Commercial Banking; Global Banking and Markets; and Global Private Banking.
Establishment and early years
HSBC is named after its founding member,
The Hongkong and Shanghai Banking Corporation Limited, which was established in 1865 to finance the growing trade between Europe, India and China.
The inspiration behind the founding of the bank was Thomas Sutherland, a Scot who was then working for the Peninsular and Oriental Steam Navigation Company. He realised that there was considerable demand for local banking facilities in Hong Kong and on the China coast and he helped to establish the bank which opened in Hong Kong in March 1865 and in Shanghai a month later. Soon after its formation the bank began opening branches to expand the services it could offer customers. Although that network reached as far as Europe and North America, the emphasis was on building up representation in China and the rest of the Asia-Pacific region. HSBC was a pioneer of modern banking practices in a number of countries - for instance, in 1888 it was the first bank to be established in Thailand, where it printed the countrys first banknotes. From the outset trade finance was a strong feature of the local and international business of the bank, an expertise that has been recognised throughout its history. Bullion, exchange, merchant banking and note issuing also played an important part. In 1874 the bank handled China's first public loan and thereafter issued most of China's public loans. By the end of the century, after a strong period of growth and success under the leadership of Thomas Jackson (chief manager for most of that period from 1876 to 1902), the bank was the foremost financial institution in Asia.
Challenges and change

The twentieth century saw challenges and change for HSBC. In the early years of the twentieth century, HSBC widened the scope of its activities in the East. It became increasingly involved in the issuing of loans to national governments, especially in China. It also decided to finance modernisation and internal infrastructure projects such as railway building. The First World War brought disruption and dislocation to many businesses but the 1920s saw a return to prosperity in the East as new industries were developed. The trade in commodities such as rubber and tin soared. The bank's new head office in Hong Kong (1935) and the new buildings at major branches such as Bangkok (1921), Manila (1922) and Shanghai (1923) reflected this confidence. HSBC took on a key role in the reconstruction of the Hong Kong economy.
Its support for the skills of newcomers to Hong Kong was especially vital to the upsurge in manufacturing in this period.
These changes carried the risk that the bank was over-concentrating its interests in Hong Kong. The bank addressed this concern by diversifying through a series of alliances and acquisitions. The purchases of the Mercantile Bank and the British Bank of the Middle East in 1959 took HSBC into new pastures, and the formation of a merchant banking arm in 1972 extended its range of services. By the 1970s the bank had firmly developed a policy of expansion by acquisition or formation of subsidiaries with their own identities and expertise.
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Making of the modern HSBC

In the later years of the twentieth century HSBC moved from an important regional bank to one of the world's leading financial services organisations. This transition was achieved by a number of steps. By the late 1970s HSBC's management had conceived the strategy of the 'three legged stool' with the legs of the stool representing the three markets of the Asia Pacific region, the US and the UK. In the 1980s, the purchase of Marine Midland Bank in the US represented the acquisition of the second leg of the stool.
HSBC then sought a similar purchase in the UK. After creating a new holding company, HSBC Holdings plc in 1991, HSBC then made a recommended offer for full ownership of Midland in July 1992. The third leg was in place. As a result of the formation of the new holding company and the acquisition of Midland Bank, HSBC became headquartered in London. HSBC has travelled a long way since its beginning - from a small local bank to the World's Local Bank.
HSBC continued to grow through strategic acquisitions in both the developed and emerging markets. In November 1998 HSBC announced the adoption of a unified brand, using HSBC and the hexagon symbol everywhere it operated, with the aim of enhancing recognition of HSBC by customers, shareholders and staff throughout the world. In the twenty-first century, HSBC has renewed its focus on its birthplace, growing its business in China both organically and through a series of strategic partnerships. HSBC's diversification and its core values of financial strength and stability have stood it in good stead in the recent global turbulence in economies and markets, and it remains well placed to deal with an uncertain world. HSBC has travelled a long way since its beginning - from a small local bank to the World's Local Bank.
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Board of Directors
D J Flint, CBE, Group Chairman Age 56. Group Chairman and chairman of the Nomination Committee since December 2010. A director of The Hong Kong Association since 6 February 2011. Mr Flint has extensive governance experience gained through membership of the Boards of HSBC and BP as well as considerable knowledge of finance and risk management in banking, multinational financial reporting, treasury and securities trading operations
S T Gulliver, Group Chief Executive Age 52. Group Chief Executive and chairman of the Group Management Board since 1 January 2011. Chairman of The Hongkong and Shanghai Banking Corporation Limited since 1 January 2011. Chairman of HSBC France and of HSBC Private Banking Holdings (Suisse) SA. Mr Gulliver is a career banker with over 30 years' international experience with HSBC.
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R A Fairhead Age 49. Chairman, Chief Executive Officer and a director of Financial Times Group Limited. A non-executive Director since 2004. Chairman of the Group Risk Committee since February 2010. Mrs Fairhead brings to the Board a background in international industry, publishing, finance and general management. As the former Finance Director of Pearson plc she oversaw the day to day running of the finance function and was directly responsible for global financial reporting and control, tax and treasury.
A A Flockhart, CBE Age 59. Chairman, Europe, Middle East, Africa, Latin America, Commercial Banking and Chairman of HSBC Bank plc since 1 January 2011. An executive Director since 2008. Mr Flockhart is a career banker, being an emerging markets specialist with over 35 years' experience with HSBC across Latin America, the Middle East, US and Asia.
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J W J Hughes-Hallett, SBS Age 61. Chairman of John Swire & Sons Limited. A non-executive Director since 2005. A member of the Nomination Committee and, since February 2010, of the Group Risk Committee. Mr Hughes-Hallett brings to the Board a background in financial accounting and the management of a broad range of businesses in a number of international industries, including aviation, insurance, property, shipping, manufacturing and trading in the Far East, UK, US and Australia.
W S H Laidlaw Age 55. Chief Executive Officer of Centrica plc. A non-executive Director since 2008. A member of the Remuneration Committee. A member of the UK Prime Minister's Business Advisory Group Mr Laidlaw brings to the Board significant international experience, particularly in the energy sector, having had responsibility for businesses in four continents.
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G Morgan, CM Age 65. Non-executive Chairman of SNC-Lavalin Group Inc. A non-executive Director since 2006. A member of the Remuneration Committee. A nonexecutive director of HSBC Bank Canada from 1996 to 2006. Mr Morgan brings to the Board a background in technical, operational, financial and management positions and has led large international companies in the energy and engineering sectors.
N R N Murthy, CBE Age 64. Chairman and Chief Mentor and former Chief Executive Officer of Infosys Limited. A non-executive Director since 2008. Chairman of the Corporate Sustainability Committee since May 2010. A director of the United Nations Foundation. Former appointments include: a director of Unilever plc and a non-executive director of DBS Group Holdings Limited, DBS Bank Limited and New Delhi Television Limited. Mr Murthy brings to the Board experience in information technology, corporate governance and education, particularly in India. He founded Infosys Limited in India in 1981 and was its Chief Executive Officer for 21 years.
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Adviser to the Board D J Shaw Age 65. An Adviser to the Board since 1998. Solicitor. A director of HSBC Bank Bermuda Limited, HSBC Private Banking Holdings (Suisse) SA and HSBC Private Bank (Suisse) SA.
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HISTORY OF HSBC INDIA

The antecedents of the HSBC Group in India can be traced back to October 1853 when the Mercantile Bank of India, London and China was founded in Bombay (now Mumbai). Starting with an authorised capital of Rs 5 million, the Mercantile Bank soon opened offices in London, Madras(Chennai), Colombo and Kandy, followed by Calcutta(Kolkata), Singapore, Hong Kong, Canton(Guangchow) and Shanghai by 1855. The following hundred years were in many ways propitious for the Mercantile Bank. In 1950 it moved into its new head office building in Mumbai.
The acquisition in 1959 by The Hongkong and Shanghai Banking Corporation Limited of the Mercantile Bank was a decisive factor in laying the foundation for today's HSBC Group. Founded in 1865 to serve the needs of the merchants of the China coast and finance the growing trade between China, Europe and the United States, HSBC has been an international bank from its earliest days. After the Mercantile Bank was acquired by The Hongkong and Shanghai Banking Corporation, the Flora Fountain building became and remains to this day, the Head Office of the HSBC Group in India Through the 1990s, HSBC has vigorously developed its role as one of the leading banking and financial services organisations in the world. Its strategy of 'managing for value' emphasises the Group's unique balance of business and earnings between older, mature economies and faster-growing emerging markets. HSBC in India is proud to have retained the Group's pioneering streak by being an active partner in the development of the Indian banking industry - even giving India its first ATM way back in 1987. The organisation's adaptability, resilience and commitment to its customers have further enabled it to survive through turbulent times and prosper through good times over the past 150 years.
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Who they are :

The HSBC Group serves around 100 million customers worldwide through around 8,000 offices in 87 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of some USD 2,418 billion at 30 June 2010, HSBC is one of the worlds largest banking and financial services organisation. HSBC is marketed worldwide as the worlds local bank.
HSBC Group Members in India

The Hongkong and Shanghai Banking Corporation Limited HSBC Asset Management (India) Private Limited HSBC Electronic Data Processing India Private Limited HSBC Operations and Processing Enterprise (India) Private Limited HSBC Private Equity Advisors (India) Private Limited HSBC Professional Services (India) Private Limited HSBC Securities and Capital Markets (India) Private Limited HSBC Software Development (India) Private Limited HSBC InvestDirect (India) Limited HSBC InvestDirect Securities (India) Limited Investsmart Financial Services Limited HSBC InvestDirect Academy for Insurance and Finance (India) Limited HSBC InvestDirect Distribution Services (India) Limited HSBC InvestDirect Sales & Marketing (India) Limited HSBC Agency (India) Private Limited HSBC Financial Holdings (India) Private Limited HSBC Consumer Services (India) Private Limited
FEATURES AT A GLANCE Technology

In India, the Group provides 24 hour banking services through an extensive network of 155 in-branch and off branch ATMs, Phone Banking through an integrated Contact Centre, SMS alert services on mobile phone and internet banking available at www.hsbc.co.in. Trade and corporate banking services are offered with real-time access to a centralised information database and the Group also has a state-of-the-art treasury dealing system.
Customer Groups
The HSBC Group commenced operations in India in 1867 with a branch in Calcutta (now Kolkata). An earlier commencement, as the Mercantile Bank of India, China and London, which the Group acquired in 1959, was established in 1853, with a branch in Bombay (now Mumbai).
Personal Financial Services

HSBC India offers a wide range of services and products to over 1.5 million customers across the Resident and Non-resident Indian segments in India, USA, UK, Canada, Australia, Middle East and South East Asia.
Commercial Banking
The Bank has over 60,000 active commercial banking customers in India, including proprietors, partnerships, clubs and associations, incorporated businesses and publicly quoted companies. Commercial Banking provides a full range of banking services to these customers including business accounts, payments and cash management solutions, trade services, factoring and a range of borrowing solutions. Commercial Banking serves its customers through three segments - Large Corporate, Mid Market Enterprises, and Business Banking. Its focus areas include customers with international business opportunities, established names in key sectors, and top tier SMEs.
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Private Banking
HSBC Private Banking, India focuses on offering a full range of products and services. These include advisory and wealth management products and services for high net worth clients and their families. Customers are offered a suite of in-house as well as third party products.
Global Banking
HSBC Global Banking (GB) provides a complete suite of products and services for corporate and institutional clients. The investment, transaction and treasury services bring together the advisory and financing, equity securities, asset management, treasury and capital markets, and private equity activities of the Group to provide a complete range of financial products to the clients. Increasingly, Export Credit Agency (ECA) financing is being considered by customers and the GB team works closely with the project export finance teams, both onshore and offshore, to provide structured solutions.
Global Markets
HSBC Global Markets offers a comprehensive suite of products and services that encompasses vanilla FX, Forwards, FX Options, Swaps, funding/syndication to complex structured solutions. Backed by a network of some of the most experienced professionals INM Global Markets is one of the leading market makers and solution providers in foreign exchange, fixed income, derivatives and financing businesses.
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COMMERCIAL BANKING
Personal Banking
HSBC offers a wide range of personal financial services, including personal lending and deposit products, through its branch network in Ahmedabad, Bangalore, Chennai, Chandigarh, Coimbatore, Gurgaon, Hyderabad, Jaipur, Kochi, Kolkata, Ludhiana, Mumbai, New Delhi, Noida, Pune, Thane, Trivandrum and Visakhapatnam. Also offered branch-wide are international Gold and Classic credit cards from VISA and MasterCard and debit cards from Visa. Customers have access to 24-hour banking services through an extensive network of automated teller machines (ATMs), an integrated Call Centre, and internetbanking-online@hsbc .
Non Resident Indian banking

HSBC's Non Resident Indian Banking (NRI) centres located in Asia-Pacific, the Middle East, Europe and North America, together with HSBC's offices worldwide, provide the international Indian Diaspora access to a range of products and services. These include NRI related investment (both international and domestic), transactional and deposit products, together with a full range of personal and private banking products in India and overseas. Internet banking also provides easy access to HSBC's services.
Financial Planning Services

Services include investment and custodian management and access to stock broking and insurance services, which are offered to resident as well as nonresident Indians.
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CorporateBanking
HSBC has well-established, long-term corporate banking relationships with large domestic Indian corporations and foreign multinationals operating in India. Services include term and working capital finance, trade facilities, corporate deposits, syndications, payments and cash management services and factoring.
BusinessBanking
HSBC's Extra Mile Business Banking offers two types of account to small and medium-sized businesses - The Business Account and the BusinessVantage Account. Services include Business Phone Banking, Business Doorstep Banking and Multi Branch Business Banking.
Payments and Cash Management

HSBC provides integrated domestic and regional transaction support to corporate clients through a sophisticated range of cash management solutions, including collection and payment services and integration with customer backend systems. Operations and client services are ISO 9001 certified. Hexagon, the HSBC Group's dedicated electronic banking service allows users to perform financial transactions, obtain international financial markets information, and review details of their domestic and international accounts, from anywhere in the world, 24 hours a day. Trade (international and domestic) and Factoring Services A wide range of solutions tailored to meet customer's requirements for both domestic and international businesses is offered. HSBC is also one of the leading banks involved in the bullion business through its offices in Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, New Delhi and is supported by the Group's global expertise in the precious metal business. HSBC is the leading provider of trade services in India and its trade centres are ISO 9002 certified.
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Institutional Banking
Working closely with Group offices in India and overseas, trade services, payments and cash management, treasury and capital markets, custody and clearing, and correspondent and electronic banking activities are offered to banks, financial institutions, securities houses, insurance companies, asset management companies and other non-banking companies, non-government and development organisations operating in India. Treasury and Capital Markets Clients consistently rate HSBC's Treasury business as one of the best in India. Its dealing room in Mumbai is one of the largest in the country, serving clients in Mumbai and in the major metropolitan centres across the country. It provides a comprehensive range of products which include - foreign exchange, money market and fixed income products and derivatives in both rupees and major currencies. Custody and Clearing The leading custodian in Asia, HSBC's custody and clearing services are available in 28 markets in Asia-Pacific and the Middle East. With experienced staff and the latest technology, HSBC is the premier provider of sub-custodian and clearing services to foreign institutional investors (FIIs) in India. HSBC clients include the domestic fund management sector in both the retail and institutional segments. Institutional Fund Services launched by the bank offers a comprehensive suite of products to domestic mutual funds and insurance companies ranging from custody, fund administration services, unit distribution and Cash Management Services.
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Technology Competent The HSBC Group develops and applies advanced technology to the efficient and convenient delivery of banking and related financial services. In India, the Group provides: Self-Service Banking with over 150 in-branch and off-branch ATMs and 24-hour Phone Banking. Trade and Corporate Banking services with real-time access to a centralised information database Instantaneous inter-city transactions through online connections between all branches A state-of-the-art treasury dealing system A sophisticated card system supporting debit and credit cards, domestic and international VISA, MasterCard, and co-branded cards A dedicated acquiring system for both MasterCard and Visa transactions online@hsbc, HSBC's internet banking service, provides customers with an integrated and secure platform to access their accounts. Internet Payment Gateway handles credit card transactions on the internet
Grievance Redressal Policy

Introduction They believe that customer service is an important imperative for sustained business growth and we want to ensure that the customers receive exemplary service across different touch points of the Bank. Prompt and efficient service is essential to retaining existing relationships and customer satisfaction is critical to the Bank. Customer complaints constitute an important voice of customer, and this policy details complaint handling through a structured grievance redressal framework. Complaint redressal is supported by a review mechanism, to minimize the recurrence of similar issues in future.
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The Banks Grievance Redressal policy follows the following principles: 1. Customers are treated fairly at all times 2. Complaints raised by customers are dealt with courtesy and in a timely manner 3. Customers are informed of avenues to escalate their complaints within the organization, and their rights if they are not satisfied with the resolution of their complaints 4. Complaints are treated efficiently and fairly 5. The Bank employees work in good faith and without prejudice, towards the interests of the customers This policy is available on the Bank?s website and at the branches on request. Employees are aware of the complaint handling process and the grievance redressal mechanism of the Bank.
OBJECTIVES
Global Banking is responsible for the overall management of relationships with major corporate and institutional clients across a broad range of geographies. Global expertise is at the heart of the Global Banking business. The Global Banking advisers' collective knowledge of global economies, sectors, industries and institutions, coupled with the understanding of local markets and cultures worldwide, help to deliver innovative, integrated financial solutions to the clients. Analyst and Summer Analyst programmes in four areas Global Banking Advisory, Equity Capital Markets, Leveraged and Acquisition Finance and Client Management are offered.
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Shaping strategy The bankers shape and promote company strategy across industries around the globe. The Advisory team provides M&A and capital markets solutions to multinational clients. Sector teams include Financial Institutions (FIG), Resources and Energy (REG), Chemicals, Industrials, Transport & Infrastructure, Real Estate, Telecoms & Media, Consumer & Retail (CRG), Healthcare, and Financial Sponsors. Capitalising on the global network The in-depth knowledge of the major growth markets across Europe, the Middle East and Africa, the Americas, and especially in Asia-Pacific have and will continue to ensure the involvement in high-profile strategic business. This is particularly true for cross-border transactions, where they can capitalise on the global network. The proposition for developed markets-to-emerging markets deals is strong, and the emerging markets-to-emerging markets track record will open opportunities for the best people going forward.
SCOPE AND VENTURES

Injecting growth The future of the marketplace looks very bright. There are a large number of businesses out there who have built up their cash reserves and are ready to take advantage of increasing economic confidence to deliver growth in their own businesses. When that happens, the advisory expertise, the financing strength and the international network will put us in a very good position. It could do the same for you. "The most surprising thing about life in Global Banking is the learning curve. The speed you learn at, the knowledge you gain of your sector, and the confidence you develop are all phenomenal." Jim Lelivelt, Analyst, Financial Sponsors Group, Global Banking
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Equity Capital Markets

Global specialists
Acting as the intermediary between banking, equity research, and equity sales/trading, the ECM team is HSBC's global equity product specialist. They originate, structure and execute equity and equity-linked new issues. The core products include initial public offerings (IPOs), rights issues, accelerated book builds and convertible and exchangeable bonds.
Leveraged and Acquisition Finance
New opportunities
This is an excellent time to join the ECM business. Equity new issue opportunities are opening up in a number of areas in both developed and emerging markets as companies are looking to finance growth and M&A, and as regulatory capital requirements in the financial sector evolve. The Leveraged and Acquisition Finance team (LAF) arranges and underwrites debt to finance event-driven corporate transactions (ie acquisitions), infrastructure transactions and leveraged buyouts by Private Equity clients as well as corporate flow business for Investment Grade borrowers. This debt comes in the form of bank loans, bridge loans, working capital facilities and the issue of high-yield bonds. The programme will cover all aspects of debt financing from Origination to Structuring to Sales and Syndication, and will comprise rotations covering the two key areas of the business: Origination and Sales and Syndication.
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Client Management HSBC Graduates

Client Management's proposition is built on three key strengths:
Relationship management Client Management recognises the importance of long-term relationships and works in partnership with clients to meet their financial, transactional and strategic requirements. Each client has a designated relationship manager whose objective is to become a trusted adviser. This involves gaining an in-depth understanding of the client's business and working closely with HSBC product specialists to develop and deliver tailored financial solutions Industry and country specialisation No two clients and no two markets are the same. A detailed knowledge of industry trends and country-specific issues is key to understanding and meeting the clients' requirements HSBC's global network Many of the clients are multinationals and require a bank that can provide a consistently high level of global service. Client Management is able to leverage HSBC's extensive international network to deliver its comprehensive range of products and services to corporates and institutions across the world
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WHY HSBC :
Be the future of banking In 2050, 19 of the top 30 economies will be from those they currently refer to as 'Emerging Markets'. At HSBC, the strength in these geographies, allied to the presence in the developed market, means they are well positioned to succeed. For the next generation of Analysts, Summer Analysts, Associates and Summer Associates, HSBC can offer an experience that will be a springboard into a longterm, internationally focused career. This is a global environment in terms of the work you will undertake, and the colleagues and the clients that you will work with. The environment is exciting, open, multicultural and multilingual where responsibility is given, results are expected and achievements recognised. As the world continues to move on from the global economic crisis, a new landscape is starting to take shape. One where the global network, strong balance sheet and in-depth growth plans generate interesting and challenging work. You will develop at a rapid pace, create international networks with equally ambitious peers and learn from industry experts in your chosen field. It is HSBCs strategic goal to become the leading international bank, and the resources and energy they are investing in order to realise this goal will mean a career for you that is rich in opportunities and rewards.
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Culture and diversity
In an organisation as global and as well-connected as HSBC, being open to different ideas, perspectives and cultures is vital. The future success depends on connecting with clients, communities and each other. HSBC is a global community. An open, multilingual, multicultural and supportive working environment. The professionalism, entrepreneurial spirit and ethical business principles guide us in everything they do. In an organisation as global and as well-connected as HSBC, being open to different ideas, perspectives and cultures is vital. The future success depends on connecting with clients, communities and each other. HSBC is a global community. An open, multilingual, multicultural and supportive working environment. The professionalism, entrepreneurial spirit and ethical business principles guide us in everything they do.
Community and philanthropic At HSBC, they are committed to ethical and sustainable business practices, and they take responsibility for the social and environmental impacts of the decisions. They focus the community efforts on two main areas where they can make a significant difference environment and education. Three-quarters of the community giving is targeted towards projects in these areas, with the remainder going to other areas of need such as disaster relief and local community projects. The Group Corporate Sustainability team oversees a number of different environmental and educational projects around the world. HSBC employees can contribute financially, through workplace-giving initiatives, and by volunteering their time. They have launched a specialist intranet site for all HSBC employees that provides information on all the corporate volunteering initiatives, allowing employees to apply for funding for a local project in addition to giving them the opportunity to participate in environmental clean-up days.
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REGIONS
At HSBC, the global reach is the platform for the work they do. The more than 300,000 people operate in almost 90 countries and territories, serving a customer base of over 100 million. They recruit Analysts and Associates into a variety of international hubs. Some of the programme areas include the possibility of work in more than one location. Taking a longer-term perspective, career options for high-performing people include roles across the globe.
Sunil Sanghai
Sunil Sanghai joined HSBC in September 2010 as the Head of Global Banking, India. Before joining HSBC, he was a Managing Director and Co-Head Investment Banking India at Goldman Sachs. Mr Sanghai joined Goldman Sachs in 2006 after many years with JM Morgan Stanley (a joint venture between JM Financial and Morgan Stanley), based in Mumbai and with Morgan Stanley in Singapore. He is a Chartered Accountant, started his investment banking career 1992 and has rich experience in mergers and acquisitions, corporate restructuring, advisory and domestic and global capital markets. Mr Sanghai has been involved in many significant and large capital markets and M&A transactions in India. His coverage experience includes managing key relationships including large Indian corporates, large conglomerates, global corporates, banks, financial institutions, financial sponsors, government agencies and the regulators. He is 42 and lives in Mumbai with his wife and daughter.
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INDIA : FROM THE EYES OF HSBC
India is on the move

Published: 31 March 2011
Young, aspirational population boosts demand
India is positioning itself to become one of the world's biggest economies. GDP grew during 2010 at 8.2 per cent year-on-year led by private consumption amid favourable labour market conditions and growing exports. Sunil Sanghai, Managing Director, Head of Global Banking, India, believes the major indicators point to solid growth in 2011. Here he answers some questions about the country. What are India's major selling points to potential investors internally and to those investing from abroad? By 2050, HSBC Research forecasts India to become the world's third-largest economy. The research also predicts that India will grow at 8.7 per cent for the financial year 2010-11 and 7.9 per cent for the financial year 2011-12. Investments and domestic consumption are fuelling growth and India's 1.2 billion people are poised to be among the world's biggest consumers.
India seems to have handled the global financial crisis reasonably well. How was this achieved and how did it affect investor sentiment? India has indeed handled the global financial crisis well. While the growth rates across the rest of the world were flat or negative, India was one of the few economies that saw growth of 6 per cent or more. This is due to several factors: India has had limited exposure to the toxic assets of Western banks The key role played by the Indian banking regulator, the Reserve Bank of India (RBI), in remaining alert to systemic risks and taking steps to avert them. For example, there was a real estate bubble in India as well, but the RBI, at least a year before the market crashed, had identified this risk and taken steps to ensure that banks' exposure was managed and covered The Indian economic fundamentals remain strong. The limited impact that India has had is primarily because of sentiment as result of what has been happening in the US and Europe Indian growth has come about thanks largely due to a robust domestic demand, and that still remains strong, and the economy continues to be less dependent on exports The advantageous demographic profile; the growing middle class What growth areas do we see for HSBC in India and how difficult is it to source funds for Infrastructure projects? HSBC India is an integral part of a resilient Group they remain the seventhlargest contributor to Group profits. India is one of the fastest-growing emerging markets and remains one of the focus points in the Group's strategy. Over 11 per cent of the Group's employees work in India they are probably the largest employer among foreign financial institutions. They are wellpositioned to partner Indian companies as they look to expand overseas, given the large network and presence in 87 countries, the experience and expertise.
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HSBC is a strong and active player in project finance and wellpositioned to meet the infrastructure needs of the country and Indian companies Global Banking will continue to deliver India promises strong economic growth. They were involved in nearly all, if not all, major bond issuances in India rupee and dollar denominated. HSBC is a universal bank. They have a very strong practice on the advisory side, a significant commitment of the balance sheet. Indian corporates are in the growth mode for which a combination of balance sheet and strategic advice is very important. HSBC is also a strong and active player in project finance and well-positioned to meet the infrastructure needs of the country and Indian companies.
Is inflation in India likely to be a major influence on foreign investors and what changes do you expect to see in India over the next half-dozen years? Inflation is a key concern area for the Indian economy, and the government and regulators are aware of the need to control inflation while ensuring that growth is not impacted due to the measures undertaken to stem inflation. Hence it is a fine balancing act for all concerned. However, we see inflation as a short-term phenomenon that investors and markets have already accounted for. HSBC's own forecast, too, believes that the Indian economy will grow at 7.9 per cent in the financial year 2011-12 as against 8.7 per cent for the year 2010-11, after factoring in the influence of inflation and the impact of rate hikes undertaken to stem inflation.
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REFERENCES
http://www.hsbcnet.com/investment http://www.hsbcnet.com/treasury http://www.assetmanagement.hsbc.com http://www.hsbcnet.com/transaction http://www.hsbcnet.com/online/about-hsbcnet http://www.hsbc.co.in/1/2/miscellaneous/about-hsbc
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DEPARTMENT OF BUSINESS ADMINISTRATION (LUCKNOW UNIVERSITY)