Thursday, April 18, 2024

15 Michael Geoghegan
Group Chief Executive - HSBC Holdings plc

HSBC a banking bridge between East and West

Michael Geoghegan is CEO of what's counted as the world's largest bank, with a €878 billion balance sheet, and one of the seven strongest capitalised of the Eurosystem banks, London headquartered HSBC is well positioned to participate in the recovery.

Geoghegan announced in September 2009 that as CEO of HSBC, he would relocate his office from London to Hong Kong. Although HSBC remains headquartered in London, (where it reincorporated in 1992 before the colony changed over to the SAR) the move is seen as a somewhat symbolic return for the bank to its original birthplace (in 1865), and as a recognition of the importance of rising Asian and Australasian markets. HSBC is one of the three leading British banks that were numbered among the seven strongest capitalised in the stress tests conducted by the CEBS (The Committee of European Banking Supervisors), with a Tier One ratio of 10.8 p.c. and a (CEBS) stress tested ratio of 10.2 p.c.