Success Story - HSBC

HSBC is one of the world’s largest banking and financial services organizations, serving more than 39 million customers through four global businesses: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking. The HSBC network covers 66 countries and territories in Europe, Asia, the Middle East and Africa, North America and Latin America.

HSBC’s GBM Innovation and Analytics division is transforming data into an enterprise asset to solve complex problems using cutting-edge technologies, helping to rapidly implement insights and efficiencies that will drive informed decision-making.

Toronto Global was introduced to HSBC through the Federal Trade Commissioner Service in London, to assist in evaluating the Toronto Region as a location for the Global Data & Innovation Lab. Toronto Global worked closely with HSBC’s GBM Data & Innovation team to develop a compelling value proposition highlighting Toronto’s growing data science talent pipeline and the opportunity that the Toronto Region offers for HSBC to locate and expand its Global Data & Innovation Lab, over top-tier global cities such as London, New York, Los Angeles, Hong Kong and Singapore. Toronto Global made introductions to key faculty members within the University of Toronto’s data and computer science programs, to help HSBC understand and evaluate the technical talent pipeline in the region. HSBC was looking for another location outside its global head office in London, United Kingdom to grow its Global Banking and Markets (GBM) capability in Innovation and Analytics, and chose Canada, where HSBC Bank Canada is the leading international bank.

After evaluating a number of cities globally, HSBC selected Toronto as its location to build its Global Data & Innovation Lab, in which data scientists, data engineers, process automation engineers, and cloud and platform engineers collaborate to deliver global, world-leading solutions for some of the bank’s greatest opportunities. This announcement was made following the development of Toronto in recent years as a key strategic location for HSBC’s GBM Technology team.

The Toronto Region was the perfect fit for HSBC. Home to the highest concentration of artificial intelligence startups in the world, the region provides HSBC with access to leading research in AI and machine learning; opportunities to partner with some of the most innovative and cutting-edge companies in the AI ecosystem; and postsecondary institutions throughout the region offering courses that develop graduate talent with significant skills in data analytics.

Toronto is the perfect location for HSBC’s Global Data & Innovation Lab, due to the city’s interest and investment in artificial intelligence and machine learning. Our customers represent a cross-section of industries and businesses, and our work at the lab is critical to delivering greater benefits for them. Having the Global Data & innovation Lab in Toronto will allow us to attract and retain the new types of talent needed for HSBC’s continued growth.