The last few years have been a bit tumultuous for countries around the world. In the US for instance, we’ve experienced trade tensions and tariffs, tax reform as well as a global pandemic – which, of course, brought on a new set of challenges. Still, as multinationals look for new growth opportunities, establishing a presence in the US continues to make good business sense. That’s because the US remains the world’s largest economy with consistently strong consumer spending. A well-educated workforce and democratic government are combined with ready access to capital, creating a favorable environment for business success.
Yet, running a global business and expanding into new markets can be challenging – even in the friendliest of environments. Setting up accounts can be complicated and confusing, and working with individual, local banks often means different platforms and processes, which can make it difficult to manage working capital and liquidity efficiently across markets.
The best way to overcome these challenges is through working with an international bank like HSBC, which has a significant global network in local markets. HSBC takes this one step further with our International Subsidiary Banking (ISB) team, which sets up global and local teams to streamline communications, consolidate accounts, improve efficiency and simplify business processes. Here’s what you can expect when you work with HSBC ISB in the US to set up your subsidiary here.
A Dedicated Team of HSBC Relationship Managers
For us, it starts with a dedicated, multilingual team of people who work together to deliver consistent service and solutions from market to market. This includes a Global Relationship Manager who works with your parent company, an ISB Regional Relationship Manager who liaises with your Regional Treasury Center, and, finally, a locally-based ISB Relationship Manager who works directly with your US subsidiary. That means we see your company as a global business and not as a collection of smaller, disparate entities – allowing us to take a more holistic approach to creating solutions designed to help you streamline costs, make better use of working capital and reduce risk.