HSBC

Office address: HSBC Tower Level 22, 188 Quay Street Auckland 
Website: about.hsbc.co.nz 
Year established: 1987 
Company type: banking 
Employees: 211,000+ (globally) 
Expertise: corporate banking, trade finance, treasury services, payments and cash management, foreign exchange, commercial lending, risk management, institutional banking, international banking solutions, wholesale banking 
Parent company: The Hongkong and Shanghai Banking Corporation Limited 
Key people: Antony Shaw (CEO); Nick Wheeler, Kumar Shah and Daniel Felton (managing directors); Brenton Hush (COO); Alan Watters and Steve Hughes (division heads) 
Financing status: failed transaction (M&A) 

HSBC is a global bank with a strong focus on Asia-Pacific and a long history in New Zealand. Now based in Auckland, it serves wholesale clients after closing its local retail banking in 2024. It operates in 58 countries and serves over 40 million customers worldwide. 

History of HSBC 

HSBC’s story in New Zealand began in 1987, when it became the first overseas bank to register a branch in the country. The bank runs as a branch of The Hongkong and Shanghai Banking Corporation Limited, headquartered in Hong Kong. Its global journey started much earlier, in 1865, when Sir Thomas Sutherland founded the company to help trade flow between Europe and Asia. 

Building a local presence 

Over the years, the bank focused on supporting internationally minded clients in New Zealand. In 2016, it moved its headquarters to 188 Quay Street in Auckland. This building, later named HSBC Tower, became a symbol of its long-term commitment to the local market. 

Recent years brought major changes for the bank in New Zealand. In 2023, Pepper Money agreed to buy HSBC’s prime home loan book, following its decision to exit the wealth and personal banking business. By June 2024, it had closed its retail banking, sold its mortgage portfolio and wound down its deposit book. 

A new chapter for HSBC NZ 

Despite these changes, the bank continues to serve New Zealand’s commercial and institutional clients. In 2024, it expanded its venture debt offering to New Zealand which gives innovative companies access to digital banking tools and specialised services. HSBC’s story here is one of adaptation and ongoing support for New Zealand’s business community. 

HSBC products and services 

HSBC in New Zealand now focuses on wholesale banking, serving commercial clients, institutions and government bodies. Key offerings include: 

• transact: manage payments and collections with tailored transaction banking solutions 
• control: monitor and manage cash flow, liquidity and financial risks with advanced tools 
• optimise: use working capital and cash flow management solutions to improve efficiency 
• borrow: choose from a range of financing options to fund business growth and operations 
• grow: connect to global markets and access trade opportunities for business expansion 
• expand: support for cross-border banking to help businesses enter new markets 
• manage: access digital tools and support to oversee business finances from anywhere 
• protect: safeguard assets and operations with risk management and security services 

HSBC’s wholesale banking services are built for internationally minded clients in New Zealand. The bank’s global network and local expertise help businesses manage their finances and reach new markets. 

Company culture and values 

HSBC’s employees benefit from a supportive environment and access to a wide range of resources: 

• competitive pay: fair wages, annual reviews and global living wage certification 
• performance recognition: variable pay, share options and clear reward structures 
• career development: learning programs, mentoring and regular feedback for growth 
• physical health: medical benefits, health checks and fitness resources 
• mental wellbeing: 24/7 counselling, mindfulness apps and manager mental health training 
• financial security: retirement savings, life insurance and financial education tools 
• flexible work: options for remote work, flexible hours and time off for important moments 
• social support: employee resource groups and support for work-life balance for all staff 

HSBC aims for 35% women in senior leadership by 2025 and supports ethnic diversity at every level. The bank wants to be the top financial services employer for the LGBTQ+ community. Staff are encouraged to balance work and life through a supportive and flexible environment. 

About CEO Antony Shaw and key people 

Antony Shaw is CEO for HSBC in Australia and New Zealand (ANZ) after serving as a global head. Before this, he worked overseas in various leadership roles.  

HSBC’s key staff in New Zealand brings deep expertise and strong industry backgrounds: 

• Nick Wheeler leads as managing director, head of markets and securities services (ANZ); known for his global markets sales experience 
• Kumar Shah serves as managing director, head of global market corporate sales (ANZ); he has over 25 years’ experience in developed and emerging markets 
• Alan Watters heads HSBC Innovation Banking (ANZ) and was previously a director at HSBC and senior VP at Citi 
• Steve Hughes is head of banking (ANZ); with past experience as managing director at the Royal Bank of Scotland (RBS) 
• Daniel Felton is managing director and country manager (NZ), head of corporate banking (ANZ); holds an economics degree from University of Sydney 
• Brenton Hush is COO Australia and Asia Pacific cluster; brings expertise in banking operations, risk and cyber management 

These leaders help guide its services for millions of customers worldwide. Their combined experience supports its reach across APAC, opening opportunities for clients everywhere. 

The future at HSBC 

After HSBC began phasing out its retail banking in New Zealand in 2023, it stopped accepting new home loan applications. The bank honoured existing mortgages and later transferred its home loan portfolio to Pepper Money. By 2025, it focuses on wholesale banking, serving business and government clients through its global network. 

HSBC also launched Innovation Banking in New Zealand, becoming the first bank to offer specialised services for venture-backed companies. This move gives local tech and scale-up businesses access to global funding, expert support and the bank’s international network. It aims to support the country’s innovation sector with venture debt and custom banking.