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1 person found this helpful  

Some candid feedback on middle market banking

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Current Employee - Business Relationship Manager  in  New York, NY
Current Employee - Business Relationship Manager in New York, NY

I have been working at HSBC Holdings

Pros

Growth of company creates opportunities. Seems to value results but does not seem to like dissent.

Cons

Very conservative credit culture. Senior management needs to have a better grip on the "nuts and bolts" of how the operation is run and how to improve it as there is much room for improvement.

Advice to ManagementAdvice

For senior management of middle market baking - stop being so heavy handed and inflexible.

Although they are clearly smart people, they need to get a better feel for middle market lending, the people that work for them, the customers, and credit (our #1 product). It is very clear that they have little actual experience in the US middle market.

Also - need to stop forcing corporate initiatives (the brand, one bank, etc.) that may not be applicable in each segment of the business.

Recommends
No opinion of CEO

958 Other Employee Reviews for HSBC Holdings (View Most Recent)

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  1. 1 person found this helpful  

    Good company to work for, just have to learn how to play the game

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Technical Officer  in  Buffalo, NY
    Current Employee - Technical Officer in Buffalo, NY

    I have been working at HSBC Holdings

    Pros

    The company's global scale does allow for many opportunities. The company is also very generous with its benefits packages, providing options that most private employers shun. In terms of compensation, the salary ranges can vary widely - it all depends on the location where you're working. Of course, there is an emphasis on experience when it comes to salary, but corporate culture is very hush hush about pay rates.

    Cons

    There are some decisions that come down from the top that just make you shake your head. The company is global that the 'Chiefs' speak, but it really doesn't do anything because executive and middle management has no interest in changing what they're doing, for fear of losing their own job. Also, the company is continually looking to offshore jobs in the US to Sri Lanka, China and India. This hurts morale in the US and creates tension between the locations as the job ethos in the US is different than in Sri Lanka, China and India.

    The bank's culture is also very secluded. You don't say one thing to one manager because it might upset him/her and come back to your manager - you can't just do your job, you always have to play the politics game.

    Advice to ManagementAdvice

    While it's understandable that senior management has to worry about the company as a whole, it might be time to start looking at the little people. Of course, with 300k employees that would be an almost impossible task - the Global People Survey is a good start, but many wonder if it actually does anything. Instead of breeding a culture where communication has to go through 'proper channels' at all times, senior management should be looking at fostering open communication from all levels of the company.

    Recommends
    Approves of CEO
  2. 1 person found this helpful  

    Solid company with a strong direction, but management needs to be more thoroughly vetted.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Consultant for Technology and Services  in  Chicago, IL
    Current Employee - Consultant for Technology and Services in Chicago, IL

    I have been working at HSBC Holdings

    Pros

    HSBC is a worldwide bank with a solid reputation. If you get put under a good manager, you will be well taken care of and you can expect your career to accellerate. HSBC is a solid company that you can expect to weather the storms. Despite our exposure to sub prime lending, we have faired quite well in comparison to our competitors.

    Cons

    Many of the managers are incompetant and if you are put under one of these people, your job will stagnate and you will hate your job.

    Advice to ManagementAdvice

    Management needs to get rid of a lot of employees. HSBC has had many years without layoffs and it's nearly impossible to be fired for performance reasons. Additionally, many people are moved into managegement based on time served. HSBC needs to promote purely based on merit and cut the bottom 10% of performers every year.

    Approves of CEO
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