Our history

1830s Birmingham was a remarkable hive of business enterprise, densely populated with engineering firms, gunsmiths, jewellers and other craftsmen. Initially the banking needs of this confident community were served by private firms of bankers, but after the banking crisis of 1825-26 these firms were desperately seeking a more secure financial platform.

It was 28 year old Bank of England clerk, Charles Geach, who had the vision. Having played his part in establishing a local joint stock bank and with good contacts in the local business community, he joined forces with other businessmen to found and manage the Birmingham and Midland Bank. His business acumen was widely regarded to have helped the young bank survive the turbulent economic conditions of the 1840s and 1850s.

In August 1958 Midland Bank pulled off a coup in banking when it became the first bank in the UK to offer unsecured personal loans to its customers. This innovative service was launched in a blaze of publicity through radio, TV and press advertising and offered loans for any amount between £50 and £500 at a fixed interest rate of 5%.

The 1950s had been a cautious period for banking - the international outlook was unsettled by the Korean War and the Suez crisis and credit restriction hampered the bank's attempts to increase business. Undeterred, Midland Bank set up a Business Development Committee and took inspiration from the banking markets of Australia and America. After secret talks with the Governor of the Bank of England, the government lifted restrictions on lending in an effort to stop the country sliding into recession.

Requests for personal loans poured in and after six months the bank had over 60,000 personal loans totalling £9.5 million. It was so successful that the Prime Minister, Harold Macmillan, wrote to Midland's chairman; "You certainly put the cat among the pigeons. I shall send my application in due course."

On 1^st October 1989, a totally new concept in banking was launched. first direct was the first telephone bank with no branches and offered a full range of banking products and services via telephone, 24 hours a day, 365 days a year.

The idea was born after customer feedback showed people were interested in speed, convenience and service. Following its launch, calls came in at the rate of 2,000 per day and by the end of the first year, 100,000 customers had signed up. Targets continued to be exceeded as two years later this number had doubled and after five years there were half a million customers.

first direct has always marketed itself in a fresh and innovative way, from its distinctive black and white colour palette to its simple typeface. This eye catching brand has been continued in the ad campaigns, from the 1995 'Tell me one good thing about your bank' to Bob Mortimer and the launch of 'Little Fella' in 2000.

On 17^th March 1992, the chairman of HSBC Holdings, William Purves, and Group Chief Executive of Midland Bank, Brian Pearse, made an historic announcement - HSBC Holdings had made an offer for one of the UK's biggest clearing banks.

On 25^th June Midland Bank became a member of the HSBC Group. It was one of the biggest banking amalgamations of its time, overcoming stiff competition from Lloyds Bank and involving tremendous support from MPs in the House of Commons.

As HSBC encompassed many operations across the globe, the Midland Bank name was replaced in order to create a clear and consistent identity to the worldwide market. With thousands of branches to rebrand and millions of customers to inform, it was a project that required meticulous planning and managing.

By September, the High Street was transformed and the rebrand was complete. Today HSBC is consistently ranked as amongst the top global brands and is seen in towns and cities across the world. From Swindon to Shanghai and Bognor to Buenos Aires, HSBC is widely identified as a global force in banking.

The time had come to move our London headquarters to new purpose built facilities that could accommodate our expanding global financial services organisation. The decision to build the HSBC Group Headquarters at Canary Wharf was taken by senior executives years before construction began in January 1999. The new headquarters would be the largest HSBC building in Europe and house both the UK bank

headquarters and those of HSBC Holdings.

Designed by Foster and Partners architects, who were responsible for our iconic Hong Kong headquarters, our new 42 storey building opened in 2002 and is a fusion of old and new. There is great significance in Stephen and Stitt, the two lion sculptures that guard the entrance to 8 Canada Square. Well-known landmarks in Hong Kong, our exact replicas weigh close to one ton each and have eight lucky coins buried in their bases as Chinese tradition dictates.