Dweller is incorrect: HSBC in Qatar is NOT a franchise.
HSBC Qatar is a Branch of HSBC Bank Middle East Ltd., which is chartered in Jersey. It is (though a series of intemediary holding companies) wholly owned by HSBC Holdings PLC, the top level holding company for HSBC. That being said, it is NOT a branch of the UK HSBC Bank, nor is it a subsidiary of the UK HSBC Bank. The Jersey bank is supervised by the Jersey regulator and the top level holding company is supervised by the UK FSA on a consolidated basis.
Should you take comfort in all of that? I leave it up to you, but it is a part of HSBC in more than name only.
Dweller is incorrect: HSBC in Qatar is NOT a franchise.
HSBC Qatar is a Branch of HSBC Bank Middle East Ltd., which is chartered in Jersey. It is (though a series of intemediary holding companies) wholly owned by HSBC Holdings PLC, the top level holding company for HSBC. That being said, it is NOT a branch of the UK HSBC Bank, nor is it a subsidiary of the UK HSBC Bank. The Jersey bank is supervised by the Jersey regulator and the top level holding company is supervised by the UK FSA on a consolidated basis.
Should you take comfort in all of that? I leave it up to you, but it is a part of HSBC in more than name only.
Click on the link to the holding company structure:
http://www.hsbc.com/1/PA_1_1_S5/content/assets/about_hsbc/hsbc_group_str...