John Bond (banker)
| Sir John Bond | |
|---|---|
| Chairman of Xstrata | |
|
Assumed office February 2011 |
|
| Preceded by | Lord MacLaurin of Knebworth |
| Group Chairman of HSBC Holdings | |
|
In office 29 May 1998 – 26 May 2006 |
|
| Preceded by | Sir William Purves |
| Succeeded by | Lord Green of Hurstpierpoint |
| Group Chief Executive of HSBC Holdings | |
|
In office 1 January 1993 – 29 May 1998 |
|
| Preceded by | Sir William Purves |
| Succeeded by | Keith Whitson |
| Personal details | |
| Born |
24 July 1941 Oxford, England, United Kingdom |
| Spouse(s) | Elizabeth Bond |
Sir John Reginald Hartnell Bond (born 24 July 1941) is the chairman of Swiss mining company Xstrata. Previously he retired as chairman of HSBC Holdings plc on 26 May 2006, after spending 45 years with the bank.
He was appointed as a member of the Hong Kong Chief Executive's Council of International Advisers in the years of 1998–2005.
John Bond joined The Hongkong and Shanghai Banking Corporation as an international manager in 1961, at the age of 19, his original application having been turned down before the intervention of the father of an old school friend whose father was a broker for the bank. He spent his early career in Hong Kong, Indonesia, Singapore and Thailand, before returning to Hong Kong to manage the bank's investment banking arm Wardley in the 1980s. From there, he was posted to New York City, to head the bank's United States operations (which included Marine Midland Bank), before being appointed HSBC Group CEO in 1993. Bond took over as Group chairman in 1998 with the retirement of Sir William Purves.
During Bond's tenure as chairman, HSBC extended its reach well beyond its major franchises in Hong Kong and Britain. From 1998 to 2005, HSBC spent $47bn on acquisitions, including those of Republic National Bank, Credit Commercial de France, Bital Bank, Bank of Bermuda, and Household International.
He was chairman of HSBC's Board when the Household acquisition was approved in 2003 by the Board. Household was a consumer finance business, an established business in the US serving the 40% of the US population who are sub-prime; other major players were GE, Wells Fargo, Citigroup and AIG.
During his Chairmanship HSBC invested over USD3 billion in China by buying 20% stakes in Bank of Communications and Ping An Insurance, as well as investing in HSBC's proprietary branch network. He chaired both the China Development Forum and the Mayor of Shanghai's International Business Leaders' Advisory Council and joined the Advisory Board of Tsinghua School of Economics and Management.
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