RE: Similar story21 Aug 2025 21:31
JBatch
'' myself starting with the Hong Shanghai Banking Corp which was a Penny share at 12 pence''
I joined Hong Shanghai Banking Corporation before we took took over Midland, It was NOT a 'penny share' despite a low price per share. They went through a spell where they did a share split every year to keep a low price per share.
''Then few had heard of it''
HSBC was a banking goliath back then as it is now, operating in countless countries, but very little presence in the UK pre Midland. We probably only had about 6 or 7 branches located in places like Gerrard street, to give the Chinese community a very familiar name to do banking with and other similar locations in England and Scotland. Our main operations in the UK then was Foreign exchange. The UK operation only gives a small percentage of profits out of the global total.
Having worked at the bank for many years , and been a shareholder for decades, HSBC has the highest valuation in my portfolio. I benefitted from various share schemes/options whilst working there, and also I have bought a lot also in addition. I started getting my HSBC pension at the age of 50.