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HSBC is the world's largest banking and financial services group. It was founded in 1865 as The Hong Kong and Shanghai Banking Corporation. Its headquarters was in Hong Kong until 1992 when it moved to London. The bank is listed on the London, New York, Hong Kong, Paris and Bermuda Stock Exchanges. Its slogan is “The World’s Local Bank.” The HSBC website says: “We have a unique international pedigree. Many of our principal companies opened for business over 100 years ago.” HSBC has 9,500 branches in nearly 90 countries. To cut costs, HSBC has opened up call centres in India, China and Brazil. The bank says it saves about $20,000 per worker for each job moved to these centres. Trade unions in the USA and UK blame these centres for job losses and salary caps in their countries.