HSBC plc:
A global bank employing local people who speak the local language
As a pre-eminent global financial institution with an unrivalled international presence, operating in 80 different countries and territories on five continents, the HSBC prides itself on its reputation as the world's local bank.
At the heart of HSBC's corporate philosophy is the notion of employing local people in a global bank, who speak the local language and understand the local culture. This helps to promote the idea of the HSBC as "the world's local bank". As Philip Spencer, Divisional Manager, International Trade Services, comments, "We pride ourselves on local people who speak the local language working in a world bank. Languages are essential to communicate with our customers and to reach out to a wide audience."
Global expansion means a greater demand for language skills
The uses of languages and the need to employ staff with language capabilities is likely to increase with plans for further global expansion, especially in South America and Asia.
Asia is of key strategic importance to HSBC"s continuing global ambition, particularly China. The company has already established itself as the largest foreign bank in China and is also looking to gain a foothold in other key Asian markets. In Korea, it recently launched a bid to acquire a stake in Korean First Bank in what is a rapidly developing and attractive market. Within these markets, as Philip, states, "Precise and effective communication along with a detailed cultural understanding is crucial to forge the necessary relationships which will ensure the company achieves success."
A strong commitment to language training and recruitment
The company has a continuing commitment to language and cultural training for managers and staff. It also puts a lot of emphasis on recruiting staff for its global operations who have language skills and can demonstrate an international perspective. As Philip Spencer comments, "Language training programs for managers and staff and recruiting people who have acquired language skills for our international operations helps to enhance our global bank reputation and build and maintain strong local links with the countries and communities we operate in."
Visit the HSBC website at www.hsbc.co.uk
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