HSBC Bank Opens New Front Street Branch

May 17, 2010

At the very beginning of today’s [May 17] grand opening, HSBC’s Bermuda CEO, Philip Butterfield’s opening comment was “Welcome to my party.” He went on to say this opening brought in a new era in banking in Bermuda.

hsbc opening 5

After him, Governor Sir Richard Gozney commented on HSBC’s worldwide presence and global reputation for probity. He said that he had seen HSBC move into Indonesia while avoiding the mistakes that other banks were making and that when he came to Bermuda, he expected to find an HSBC operation here; and that HSBC’s presence in Bermuda suggested that Bermuda was a good place in which to do business. Sir Richard said that HSBC’s reputation, like Bermuda’s, was second to none.

Sir Richard offered two lighthearted suggestions. First, that on its advertising signage that was often seen at airports, HSBC should put up two images side by side. One picture should show a beach. The other should simply say Bermuda. At this the crowd applauded. Sir Richard’s second suggestion was that in a world of acronyms, HSBC should be understood as Helping Strengthen Bermuda Capital. This too, drew applause.

Premier Dr Ewart Brown spoke next and pointed out that in a global recession, HSBC had managed to work with the people of Bermuda to maintain a positive relationship with the people of Bermuda. On a lighter note, Premier Brown, who was celebrating his birthday today, said that he was one year away from collecting his ‘free’ bus and ferry pass, and usually made a point of spending his birthday privately; but that it was not every day that he was called upon to “open your brother’s bank.”

Click to enlarge images:

Chairman of the Board, HSBC (Bermuda) John Campbell said that the design of the new building showed both sensitivity and innovation and was environmentally friendly. Echoing CEO Butterfield, he said that the Bank is pioneering a new era in Bermuda.

Michael Geoghegan, Group Chief CEO said that Bermuda and its industry was a major component in the world financial industry. That HSBC’s 300,000 global employees were all important; that Bermuda was a key part of this global operation; and that HSBC took its responsibilities very seriously. He emphasized that HSBC views banking as the creation of longterm relationships.

Alan Burland of BC&M McAlpine, builders of the new HSBC building said that it was good to have been associated with the project and was pleased that his firm and his family had maintained a successfull relationship over such a long time. He said it was a proud day for Bermuda; and then handed over a presentation case containing a pair of scissors.

Sir Richard and CEO Phillip Butterfield then cut the ribbon and formally opened the already active business.

Also during the event, a “sign spinner” brought in from the USA spun the HSBC sign about for the crowd. He is shown below warming up:

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  1. Bermuda Premier Dr Ewart Brown Birthday Celebration | Bernews.com | May 18, 2010
  1. Graeme Outerbridge says:

    The rape of Bermudian Banking concludes with the opening of a faceless facility with no view for the customers^^