As of July 2015, HSBC Holdings is comprised of 19 principal regional subsidiaries. These include HSBC Bank in the United Kingdom, HSBC Bank USA and HSBC Bank Canada in North America, and the company's namesake Asian Pacific operation, The Hongkong and Shanghai Banking Corporation.
Other principal HSBC companies include HSBC Bank Australia, HSBC France and HSBC Bank Middle East. The company also operates HSBC Bank International, which provides offshore banking services for expatriates and migrants across the globe.
In the United States, Canada and the United Kingdom, HSBC also provides credit cards, real estate and automotive loans, insurance and other lending products through its HSBC Finance subsidiary. HSBC Finance was formed from the acquisition of a number of major financing companies, including HFC and Beneficial. In the United States, the bank operates several additional consumer-facing companies under the HSBC umbrella, including HSBC Global Asset Management, HSBC Private Bank International, HSBC Insurance Agency and HSBC Securities.
Globally, HSBC is also divided into four main business divisions: global banking and markets, retail banking and wealth management, commercial banking, and private banking. Some divisions are operated as their own businesses, with HSBC Private Bank operating as a Swiss holding company with numerous subsidiaries of its own. The company's complex organizational structure caused it to launch an international restructuring effort in mid-2015 to help address large overhead costs.