HSBC 2003 Annual Report Download - page 19

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internet banking in 2003. Fifty-four per cent of
all new business customers register for internet
banking at the time of account opening. The
value of payments generated using business
internet banking now exceeds US$786 million
per month. At the Institute of Financial Services’
Financial Innovation Awards HSBC won the
award for the ‘Best Internet Banking Service’
and the ‘Grand Prix Award’ for general
innovation in the financial services industry.
• By the end of 2003, over 280,000 UK customers
were registered for business telephone banking,
utilising the bank’s telephone centres in the UK
and India. These handle some 3,000 sales and
more than 100,000 in-bound calls per month,
leaving relationship managers to focus on
customer service.
• Group ‘Secure E-Payments’ remote payments
solution successfully launched in June 2003.
HSBC’s offering has enhanced security features
over other providers and includes compliance
with MasterCard ‘Securecode’ and verification
by Visa standards for internet merchants.
Corporate, Investment Banking and Markets
• In June, HSBC announced the appointment of
co-heads of its global Corporate, Investment
Banking and Markets business. Under this new
management structure, HSBC combined its
origination capabilities with its broad-based
trading and sales platform to ensure a seamless
banking, financing and investor service for the
Group’s corporate and institutional clients.
• During 2003, the business strengthened its client
coverage model, adopting a sector-based
relationship approach to client servicing. The
origination businesses were restructured to
reflect this sectoral approach and reinforced
through selective recruitment. As a result of this
investment, HSBC strengthened its corporate
client service offering, winning a number of
notable contracts.
• In March 2003, the payments and cash
management, trade services, securities services
and banknotes businesses were brought together
under a single management and organisation
structure, Global Transaction Banking.
• In September, HSBC commenced the integration
of its equities business into the Global Markets
business, creating a single platform for all
trading and sales operations. In addition, HSBC
announced the restructuring of the research
offering so as to align macro, sectoral and price
driven research with both institutional investor
and corporate client needs.
• In the international bond market, HSBC’s market
share rose to 4.4 per cent, and in the fourth
quarter, HSBC came third in the international
bond bookrunner league table.
• HSBC was joint adviser to Safeway on its
£3 billion recommended merger with Morrison
in the UK and advised LNM Holdings on its
US$1.2 billion acquisition of Polish steel maker
Polski Huty Stali.
• The London and Paris dealing rooms were fully
integrated with each site taking a lead role in
specific product areas. This dual-hub structure in
Europe has proved to be a key competitive
advantage.
• HSBC won a five-year contract to support
British Telecommunications plc’s (‘BT’ )
corporate card programme. The BT programme
is the largest in both the UK and Europe with
more than 35,000 corporate cards in issue and an
annual spend of over £100 million (US$164
million).
• The Universities Superannuation Scheme, the
UK’s third largest pension fund, appointed
HSBC Global Fund Services Limited as sole
provider of a full range of investment accounting
and performance measurement services.
• In response to the anticipated growth in
employee share saving schemes and personal
retirement schemes, CCF created HSBC CCF
Épargne Enterprise, following the acquisition of
minority shareholdings in Elysees Gestion and
Elysees Fonds.
Private Banking
• HSBC Private Bank was rated among the top
three ‘Best Global Private Banks’ in
Euromoney’s first annual survey of wealth
management providers published in January
2004.
• HSBC Private Bank’s alternative investments
attracted in excess of US$3 billion new assets,
raising total client assets invested in hedge funds