Examine the organization structure of a FTSE 100 company and evaluate the reasoning behind its choice. Explain the advantages of this structure against other types of organizational structure.
The FTSE UK index series is designed to represent the performance of UK companies, providing investors with a comprehensive set of indices that measure the performance of all capital and industry segments of the UK equity market. HSBC is on the 3rd rank of FTSE 100.
History of HSBC
HSBC Bank plc and its subsidiaries form a UK-based group providing a comprehensive range of banking and related financial services. HSBC Bank plc (formerly Midland Bank plc) was formed in England in 1836 and subsequently registered as a limited company in 1880. In 1923, the company adopted the name of Midland Bank Limited which it held until 1982 when the name was changed to Midland Bank plc. During the year ended 31 December 1992, Midland Bank plc became a wholly owned subsidiary undertaking of HSBC Holdings PLC (“HSBC Holdings”), whose Headquartered is in London. HSBC Bank plc adopted its current name, changing from Midland Bank plc, in the year ended 31 December 1999. The HSBC Group is one of the largest banking and financial services organisations in the world, with over 9,500 offices in 79 countries and territories in Europe, Hong Kong, the rest of Asia-Pacific, including the Middle East and Africa, North America and South America. Its total assets at 31 December 2009 were £579 billion. The Bank is the HSBC Group’s principal operating subsidiary undertaking in Europe.
As at 31 December 2003, the Bank’s principal subsidiary undertakings and their main geographical areas of activity were:
* CCF S.A. (formerly Credit Commercial de France S.A.) France
* HSBC Asset Finance (UK) Limited United Kingdom
* HSBC Bank A.S. Turkey
* HSBC Bank International Limited Jersey