HSBC Holdings plc is a British multinational investment bank and financial services holding company. It is the largest bank in Europe, with total equity of US$204.995 billion and assets of US$2.984 trillion as of December 2020. HSBC traces its origin to a hong in British Hong Kong, and its present form was established in London by the Hongkong and Shanghai Banking Corporation to act as a new group holding company in 1991; its name derives from that company's initials. The Hongkong and Shanghai Banking Corporation opened branches in Shanghai in 1865 and was first formally incorporated in 1866.
HSBC has around 3,900 offices in 64 countries and territories across Africa, Asia, Oceania, Europe, North America, and South America, serving around 40 million customers. As of 2014, it was the world's sixth-largest public company, according to a composite measure by Forbes magazine. As of 2020, it was the world’s sixth-largest bank by both total assets and market capitalization. It is considered a systemically important bank by the Financial Stability Board.
HSBC is organised within four business groups: Commercial Banking, Global Banking and Markets, Retail Banking and Wealth Management, and Global Private Banking. In 2020, the bank announced that it would consolidate its Retail Banking & Wealth Management arm with Global Private Banking, to form Wealth & Personal Banking.