HSBC Holdings plc, a prominent British universal bank and financial services group, stands as a global financial giant with deep historical roots in East Asia. Established initially as the Hongkong and Shanghai Banking Corporation in Hong Kong in 1865 to facilitate trade between Europe and Asia, the bank quickly expanded its reach, opening a branch in Shanghai shortly after and formally incorporating in 1866. In 1991, the bank underwent a significant restructuring, establishing HSBC Holdings plc as the parent company in London while retaining the original Hong Kong bank as a subsidiary. A pivotal moment in HSBC's history came with the 1992 acquisition of Midland Bank, solidifying its position as a major player in the UK and globally. The bank's key businesses encompass a wide range of financial services, including retail banking, commercial banking, investment banking, asset management, and insurance.