HSBC is the world's largest banking and financial services group. It was founded in 1865 as The Hong Kong and Shanghai Banking Corporation. Its headquarters was in Hong Kong until 1992 when it moved to London. The bank is listed on the London, New York, Hong Kong, Paris and Bermuda Stock Exchanges. Its slogan is “The World’s Local Bank.” The HSBC website says: “We have a unique international pedigree. Many of our principal companies opened for business over 100 years ago.” HSBC has 9,500 branches in nearly 90 countries. To cut costs, HSBC has opened up call centres in India, China and Brazil. The bank says it saves about $20,000 per worker for each job moved to these centres. Trade unions in the USA and UK blame these centres for job losses and salary caps in their countries.

Vocabulary:

1.  Pedigree

2.  Salary Caps

Reading Comprehension

1.  How many stock exchanges is HSBC listed on?

2.  Where and why did HSBC open call centers?

Exercise:  Fill in the cap with the correct tense of the verb.

HSBC .......... (be) the world's largest banking and financial services group. It was .......... (found) in 1865 as The Hong Kong and Shanghai Banking Corporation. Its headquarters .......... (be) in Hong Kong until 1992 when it moved to London. The bank is .......... (list) on the London, New York, Hong Kong, Paris and Bermuda Stock Exchanges. Its slogan .......... (be) “The World’s Local Bank.” The HSBC website says: “We .......... (have) a unique international pedigree. Many of our principal companies .......... (open) for business over 100 years ago.” HSBC has 9,500 branches in nearly 90 countries. To .......... (cut) costs, HSBC has opened up call centres in India, China and Brazil. The bank says it .......... (save) about $20,000 per worker for each job .......... (move) to these centres. Trade unions in the USA and UK .......... (blame) these centres for job losses and salary caps in their countries.

What types of accounts does HSBC Securities (USA) Inc. offer?

http://www.us.hsbc.com/1/2/home/invest-retire/faq

Our full-service brokerage account offers trading in stocks⁶, ETFs³, mutual funds³, bonds⁴ and options⁷. For more details on the other types of accounts we offer, please review our complete list of products and services below:

• Trust accounts:
  Invest and manage a brokerage account on behalf of a pre-nominated beneficiary.
• Estate accounts:
  Invest and manage a brokerage account as the court-appointed executor on behalf of an estate.
• Retirement:
  Traditional IRA
  Roth IRA
  Direct Rollovers at Retirement
  Indirect Rollover at Retirement
  401(k) Retirement Plan
  403(b) Retirement Plans
  SIMPLE IRA
  SEP Retirement Plans
• Managed accounts:
  HSBC World Selection Spectrum Account
  Managed Portfolio Accounts
• Education planning:
  529 College Savings Plans (529s)
  Coverdell Education Savings Accounts (ESAs)
  Custodian Accounts (UGMA/UTMA)
• Structured products:
  Market-linked Structured Certificate of Deposit
  Structured Notes without Principal Protection
• Insurance and annuities:
  Whole Life Insurance
  Term Life Insurance
  Variable Life Insurance
  Universal Life Insurance
  Single Premium Life Insurance
  Long-Term Care Insurance
  Disability Insurance
  Fixed Annuity
  Variable Annuity⁸