Sir Thomas Sutherland Founder of HSBC

Biography of Sir Thomas Sutherland

Early Life

Sir Thomas Sutherland Founder of HSBC was born in 1834. His father was Robert Sutherland, who belonged to Aberdeen. His father passed away in his early childhood and after the death of his father he was brought up by his maternal grandfather who was a businessman in fisheries at the east coast of Scotland. His grandfather was very serious towards his nourishment. He was given under the mastership of Dr. Melvin, who was a great scholar and principal of the Aberdeen Grammar School. At the age of fourteen he was sent to the University of Aberdeen.

Steps towards Banking Career

His study at the University of Aberdeen was shortened to only one year and he had to leave that institute to join his uncle in America. His grandfather wanted him to be a politician but his fortune took him to his uncle who was a banker and he started working under his uncle’s guidance. But his uncle was very much stern and he didn’t like that. So he tried to work somewhere else.

Founder of HSBC Holdings

He smelled his future from the conversation of his grandparents that he was going to be the director of a big company in Hong Kong, Peninsular and Oriental Steam Navigation Company (P&O). He joined P & O Company as its superintendent. And in 1863, he was promoted and became the first ever chairman of the Hong Kong and Whampoa Dock.

It was 1865 when his self-founded company was born. He founded in Hong Kong the Hong Kong and Shanghai Banking Corporation. He was also its first vice-chairman. And HSBC Holdings was named way after his death in 1991. But he led its foundation in 1865.

HSBC Holdings

It is a multinational financial and banking institute of Britain. It provides financial and banking facilities to its clients. Its original was in Honk Kong and Shanghai which wasled by Sir Thomas Sutherland. But it was again refined into 1991 and it’s headquarter has been shifted to United Kingdom’s London. The name HSBC is taken from the initial alphabets of the name of its parent company the Hong Kong and Shanghai Banking Corporation.

It is considered as one of the largest banks of the world. It is also considered as the native bank of two geographic areas, Hong Kong and United Kingdom. This is due to its origin in Hong Kong and refinement in United Kingdom. It is also listed in the stock markets of both areas.

As far as ranking is concerned, in terms of acquired assets it was ranked number first in 2012. It has also secured number sixth slot as a public company.

Later Years and Life in Politics

He was also a well-known politician. He remained in the delegate of the Legislative Council for Hong Kong. Because of his reputation he also gained the sear of Managing Director of P & O Company. He took part in the elections of November 1884, as an elected body by the Member of Parliament (MP) for seat from Greenock. Although he lost that spot, still he owned that seat because his competent was overthrown by petition. He remained on this seat until next general elections of 1900. He became very famous and a street in Sheung Wan was named after him as Sutherland Street.

Death

He died at the age of 87 years in 1922. He worked for forty years as managing director and the chairman of P & O Company. He is still regarded as the person who was active part of the company as compare to other person of that company.