Principal business groups and divisions

Principal business groups and divisions[edit]

HSBC organises its customer-facing activities within three business groups: Commercial Banking (CMB); Global Banking and Markets (GBM); Wealth and Personal Banking (WPB).^[13]

Commercial banking[edit]

HSBC provides financial services to small, medium-sized and middle-market enterprises. The group has more than 2 million such customers, including sole proprietors, partnerships, clubs and associations, incorporated businesses and publicly quoted companies.^[120]

In December 2015, HSBC announced that Noel Quinn will succeed Simon Cooper as the chief executive officer of Commercial Banking. Simon Cooper has decided to leave the bank to pursue other opportunities.^[121]

Global banking and markets[edit]

Global Banking and Markets is the investment banking arm of HSBC. For Global Banking, it provides investment banking and financing products for corporate and institutional clients, including corporate banking, investment banking, capital markets, trade services, payments and cash management, and leveraged acquisition finance. For Markets and Securities Services, it provides services in equities, credit and rates, foreign exchange, money markets and securities services. Global Banking and Markets has offices in more than 60 countries and territories worldwide, and positions itself as "emerging markets-led and financing-focused".^[122]

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