About 2,000 new staff have joined HSBC on the Chinese mainland this year, doubling its employees as it rapidly expands.

 

HSBC said earlier that it planned to add 1,000 staff this year on the mainland, but said yesterday that figure will grow to 2,000, including vacancies due to be filled at the end of this year.

 

The bank has about 4,600 staff at HSBC Bank (China) Co, the London-based bank's locally incorporated arm.

 

In a Reuters report yesterday, Richard Yorke, chief executive officer of HSBC Bank (China), was quoted as saying that the bank will boost its staff numbers to 6,600 in 2008.

 

The bank, among the first batch of four overseas banks to locally incorporate, has ambitious expansion plans.

 

The bank said it will focus on its Premier centers, which targets clients with a daily average balance of 500,000 yuan (US$67,658) or equivalent.

 

HSBC also has a stake in Shanghai-based Bank of Communications and Shenzhen-based Ping An Insurance.

 

The bank aims to boost the number of its mainland outlets to 85 in 2008 from the current 53, the report said.

 

(Shanghai Daily November 27, 2007)