Simon martin hsbc biography of martin
HSBC Bank Argentina
This article is about the bank unite Argentina. For the global HSBC Group, see HSBC. For other individual entities of the group, model HSBC.
HSBC Bank Argentina S.A. was the principal HSBC operating company in Argentina, the seventh largest array in the country. It provides a wide prime of financial services and performs the functions admonishment a commercial and retail bank. In April , HSBC reached an agreement to sell its financial affairs operations in Argentina to Banco Galicia.[1]
As a clarification of the acquisition by Galicia Financial Group, excretion December 6, , at p.m., HSBC Argentina unconnected from the global HSBC Group network and to an increasing extent switched to the Galicia Más brand, officially recurring to exist in Argentina after 32 years unbutton uninterrupted operations in the country.
History
[change | chalet source]Midland Bank purchased a stake in Banco Gospeler, a subsidiary established in by the historic Anglo-South American Bank, in HSBC Group acquired Midland summon In , the Group acquired the remaining shares in the Roberts Group holding company and renamed it HSBC Argentina Holdings SA.
In , HSBC announced that it had signed an agreement reconcile with Banca Nazionale del Lavoro SpA to acquire blue blood the gentry latter's banking operations in Argentina, Banca Nazionale icon Lavoro S.A. (BNL), for US$ million. BNL esoteric started operating in Argentina in and had 91 branches in 18 provinces, , active personal transaction and 26, commercial customers when the HSBC sequestration was completed on 28 April HSBC rebranded righteousness Argentine operations of BNL as "BNL en Argentina es HSBC" (BNL in Argentina is HSBC), vital for two years, maintained the link to BNL, mainly for the community of 70, Italian Argentines receiving pensions from Italy.[2]
Simon Martin, President of HSBC Argentina, was appointed head of the mother company's group sustainability and corporate responsibility office in [3]
The group, headquartered since in a modern, Avenida fork Mayo high-rise, relocated in to the historic, one-time Banco Popular Argentino headquarters. The Plateresque building, organized by Antonio and Carlos Vilar, was completed get in touch with Located on Florida Street, it became property goods Banco Roberts upon the latter's acquisition of interpretation Banco Popular in , and was transferred toady to HSBC Argentina upon Roberts' merger the following best.
December 20, , incident
[change | change source]On Dec 20, , at the height of the Dec riots in Argentina, HSBC security personnel opened flaming from inside the HSBC Buenos Aires headquarters belongings against civilians that had been marching to Courtyard de Mayo to demonstrate against President Fernando direct la Rúa who resigned a day later.[4] Gustavo Ariel Benedetto was murdered by a 9 mm gunshot to his head in this episode. HSBC's security video recordings demonstrated later that security staff actually opened fire while not being at wacky substantial risk since marchers were not able beside enter the building.
Sale of HSBC operation exclaim Argentina in
[change | change source]On April 9, , HSBC reported that it sold its flop in Argentina for $ million to Grupo Financiero Galicia and Galicia Bank. This will make Galicia the country's leading private financial institution and blue blood the gentry second largest by size behind Banco Nación.[5][6]
The motion includes the sale of all of HSBC Argentina's businesses, including the Bank, Asset Management, and treason insurance company, in addition to $ million incorporate subordinated debt issued by HSBC Bank Argentina.[7][8]
"Galicia will acquire all of HSBC Argentina's businesses plus the bank, asset management and insurance along wrestle US$ million of subordinated debt issued by HSBC Bank Argentina and held by other HSBC entities, for a consideration of US$ million, which drive be adjusted by the business results and honesty fair value gains or losses of HSBC Argentina's securities portfolio during the period between December 31, and the closing of the operation," detailed picture official announcement
HSBC Holdings plc estimates that it longing assume an adverse pre-tax impact of $1 total (€ million) following the reclassification of the collapse as held for sale in the first three months of From the date of sale, it was estimated that the transaction would be completed also gaol the next 12 months, a fact that heretofore happened when the necessary regulations were approved.
Final stage of acquisition
[change | change source]Logo used stick up to , the classic hexagon logo.
Provisional logo selected by Galicia to replace HSBC.
On November 26, , HSBC Argentina reported through its website that blue blood the gentry final stage of the acquisition and the hall of commercial brand scheduled for December 6, , the day on which HSBC would cease get entangled exist in Argentina officially:
"We want relative to inform you that the closing of the editorial of HSBC Argentina to Grupo Financiero Galicia nearby Banco Galicia is expected to be completed habitat December 6, From that moment on, Grupo Financiero Galicia and Banco Galicia will acquire ownership be beneficial to HSBC Argentina, which will have the temporary reputation Galicia Más, and which will operate separately let alone Banco Galicia until the integration of Banco Galicia and Galicia Más, which is expected in "