The Bank of Bermuda
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The Bank of Bermuda Limited is a leading financial services company in Bermuda providing fund administration, trust, custody, asset management and banking services to institutions and individuals. In 2004 the Bank of Bermuda was acquired by the HSBC Group, and has since become a focus for certain fund management and private banking activities.
History
Foundation
In 1889, some Bermudan merchants founded a second bank to compete with N.T. Butterfield & Son.. The Bank of Bermuda took over the branch that the Merchants' Bank of Halifax, Nova Scotia had established in 1886 to takeover the agency it had awarded to N. T. Butterfield & Son Ltd. The merchants formally incorporated the Bank of Bermuda in 1890.Bank of Bermuda joins the HSBC Group
Having been founded in 1889, Bank of Bermuda grew to span 17 of the world's key financial and offshore centers including Bahrain, Cayman Islands, Cook Islands, Dublin, Guernsey, Hong Kong, Isle of Man, Japan, Jersey, London, Luxembourg, New York, New Zealand, Singapore, South Africa and Switzerland prior to joining the HSBC Group's network in February 2004. Shareholders accepted an offer valuing the Bank at US$1.3 billion, the initial offer having been made on 28 October 2003. Most of Bank of Bermuda's operations in these overseas locations were amalgamated with HSBC offices in 2004.Bermudan Banking
In the local market Bank of Bermuda offers a broad range of products and services to the local community, including checking and savings accounts, transactional / payment services, debit / ATM cards, credit cards, personal and consumer loans, mortgages and home equity loans, investment and financial planning services.For the international market Bank of Bermuda offers a mix of Private Client Services, Commercial Banking, Asset Management, Global Fund Services, and Corporate, Investment Banking and Markets activities.
See also
External links
| Corporate Directors: Baroness Dunn | Sir Brian Moffat | Stephen Green | Lord Butler of Brockwell | Raymond Ch'ien | John Coombe | Rona Fairhead | Douglas Flint | William Fung | Michael Geoghegan | Sharon Hintze | James Hughes-Hallett | Sir Mark Moody-Stuart | Stewart Newton | Simon Robertson | Helmut Sohmen | Sir Brian Williamson |
| Brands: The Bank of Bermuda | Beneficial | first direct | Hang Seng | HFC | HSBC | HSBC Bank International | HSBC Halbis Partners | HSBC Investments | HSBCnet | HSBC Premier | Marbles | M&S Money | Proa |
| Local Banks: Argentina | Australia | Bermuda | Brazil | Canada | China | Egypt | France | Germany | Hong Kong | Iraq | Malaysia | Middle East | Malta | Mexico | Poland | Turkey | United Kingdom | United States |
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Minority Stakes and Joint Ventures: Bank of Communications (19.9%) | Bank of Shanghai (8%) | HSBC Saudi Arabia Limited (60%) | Ping An (19.9%) | Techcombank (10%) | The Saudi British Bank (40%) | UTI Bank Limited (4.99%) | Wells Fargo HSBC Trade Bank N.A. (20%) |
| Annual Group Revenue: .7 billion USD ( 10% FY 2005) | Employees: 284,000 | Stock Symbol: LSE: [HSBA] | Website: [www.hsbc.com] |
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