Barclays vs HSBC: Founders, CEOs and History
Barclays was founded in 2008 by John Freame, Thomas Gould and is led by C.S. Venkatakrishnan. HSBC was founded in 1865 by Thomas Sutherland and is led by Georges Elhedery.
Company facts
Founders
Barclays
John Freame
The founding of Barclays is not a single event, but an aristocratic consolidation of historic Quaker banking families in the heart of London.
Thomas Gould
Thomas Gould (1663 to 1731) was a respected Quaker goldsmith and the indispensable co-founder of the partnership that laid the genesis of Barclays PLC.
HSBC
Thomas Sutherland
HSBC possesses arguably the most geopolitical, influential founding story in the entire history of global banking, rooted directly in the lucrative, controversial opium trade and the colonial expansion of the British Empire in the 19th century.
CEOs and their tenures
Barclays
- Bob Diamond2011–2012
Former Chief Executive Officer
Diamond, the architect of the 2008 Lehman Brothers acquisition, was the who built Barclays' top investment banking franchise into a global leader.
Source - Antony Jenkins2012–2015
Former Chief Executive Officer
Jenkins was tasked with the challenge of overhauling Barclays' toxic corporate culture in the aftermath of the LIBOR scandal.
Source - C.S. Venkatakrishnan2021–present
Chief Executive Officer
Venkatakrishnan, a former head of the bank's credit trading desk, assumed the CEO role during a period of intense macroeconomic headwinds and regulatory scrutiny.
Source
HSBC
- Michael Geoghegan2006–2010
CEO
Geoghegan steered HSBC through the 2008 crisis without a government capital injection, though the bank raised about $16.5 billion (£12.5 billion) from shareholders in a 2009 rights issue to absorb losses largely tied to Household.
Source - Stuart Gulliver2011–2018
CEO
Gulliver exited or sold dozens of non-core businesses, rebuilt financial-crime controls under the 2012 deferred prosecution agreement, and left HSBC a smaller, more governable group.
Source - Noel Quinn2020–2024
CEO
Quinn shifted capital away from low-return Western retail markets, agreeing the sales of HSBC Canada and French retail banking and exiting most US mass-market retail, while expanding Asian wealth.
Source - Georges Elhedery2024–present
Group CEO
Under his leadership HSBC posted a record $36.6 billion of 2025 pre-tax profit excluding notable items, raised its RoTE target to 17% or better for 2026-2028, and reported a 23% rise in first-half 2026 pre-tax profit.
Source - Brendan Nelson2025–present
Group Chair
He chairs the board during the simplification programme and the Hang Seng Bank privatisation, and highlighted a total shareholder return of more than 57% for 2025.
Source
Timeline: Barclays and HSBC side by side
1690Barclays
Founding on Lombard Street
Quaker goldsmiths John Freame and Thomas Gould open their banking partnership on Lombard Street in the City of London, laying the foundational bedrock of modern commercial banking by issuing promissory notes and safeguarding merchant wealth.
1736Barclays
Adoption of the Barclays Name
James Barclay, the son-in-law of John Freame, is admitted to the partnership, and the firm officially adopts the Barclays name, setting the stage for its future dominance and expansion into financing the British industrial revolution.
1865HSBC
Hongkong and Shanghai Bank Opens: The Hongkong and Shanghai Banking Corporation opened in Hong Kong and Shanghai to finance Asian trade and provide local banking infrastructure close to merchant flows…
1875HSBC
International Network Takes Shape: By 1875, HSBC had built a multi-country network across Asia, Europe, and North America, making cross-border banking a structural part of the franchise.
1896Barclays
Transition to a Joint-Stock Bank
In a cultural and legal shift for the conservative Quaker leadership, Barclays transitions from a private partnership with unlimited liability to a joint-stock company, allowing it to raise the capital required to expand its branch network across the UK.
1960Barclays
International Expansion and Credit Cards
Barclays expands its international footprint, opening branches across Europe and the Americas, and becomes a pioneer in the UK consumer credit market by launching one of the first bank-issued credit cards, altering British consumer spending habits.
1986Barclays
The 'Big Bang' and Investment Banking
Following the deregulation of the London Stock Exchange, Barclays expands its securities trading and corporate advisory capabilities, transitioning from a traditional commercial bank into a strong player in the global capital markets.
1992HSBC
Midland Bank Acquisition: HSBC acquired Midland Bank and shifted its holding-company center to London, creating the modern structure that links UK regulation with Asia-centered economics.
2000Barclays
Acquisition of The Woolwich
Barclays acquires The Woolwich, the UK's second-largest building society, in a $5.7 billion deal, instantly cementing its dominance in the British mortgage market and significantly expanding its retail deposit base.
2008Barclays
The Lehman Brothers Acquisition
In a frantic weekend rescue during the height of the global financial crisis, Barclays acquires the North American operations of the collapsed Lehman Brothers, instantly transforming the bank into a global bulge-bracket investment bank.
2012Barclays
The LIBOR Manipulation Scandal
Barclays is hit with nearly $500 million in fines by global regulators for its role in manipulating the LIBOR benchmark interest rate, leading to the resignation of the CEO and Chairman and forcing a complete overhaul of the bank's compliance culture.
2012HSBC
DOJ Deferred Prosecution Agreement: HSBC entered an U.S. deferred prosecution agreement tied to anti-money-laundering and sanctions-control failures, making compliance discipline central to the modern…
2017Barclays
Spin-off of African Operations
Barclays completes the demerger of its African retail banking operations into the independent Absa Group, retreating from emerging market retail banking to focus on its core UK and global corporate franchises.
2021HSBC
U.S. Mass-Market Retail Exit: HSBC announced its exit from most U.S. domestic mass-market retail banking, sharpening the focus on international clients, wealth, and wholesale banking.
2024Barclays
Sale of US Consumer Bank to Equifax
Barclays executes an effective strategic purification by selling its US consumer credit card portfolio to Equifax, shedding low-return, capital-intensive assets to focus on high-yielding corporate lending and top fixed-income trading.
2024HSBC
Georges Elhedery Appointed Group CEO: HSBC appointed Georges Elhedery as Group Chief Executive effective 2 September 2024, putting a former CFO and markets executive in charge of the next simplificati…
2025HSBC
$68.3B FY2025 Revenue: HSBC reported $68.274 billion in FY2025 revenue, $29.907 billion in profit before tax, and $23.131 billion in profit after tax.
Acquisitions
Barclays
- ING Direct UK2012$1.2B
- Lehman Brothers North America2008$1.4B
- Absa Group (Majority Stake)2005$5.5B
- The Woolwich2000$8B
HSBC
- Hang Seng Bank (remaining minority stake)2026$13.7B
- Bank of Bermuda2004$1.3B
- Household International2003$14B
- Credit Commercial de France2000$11B
- Midland Bank1992$3.9B
Questions about Barclays vs HSBC
Who is the CEO of Barclays PLC and HSBC Holdings plc?
Barclays PLC is led by C.S. Venkatakrishnan and HSBC Holdings plc is led by Georges Elhedery. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Barclays PLC founded vs HSBC Holdings plc?
HSBC Holdings plc was founded in 1865 — 143 years before Barclays PLC, which was founded in 2008. HSBC Holdings plc's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Barclays PLC.
How many employees does Barclays PLC have compared to HSBC Holdings plc?
Barclays PLC employs approximately 83,000 people, while HSBC Holdings plc employs approximately 209,000. HSBC Holdings plc has the larger workforce at 209,000 employees, compared to Barclays PLC's 83,000. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Barclays PLC and HSBC Holdings plc headquartered?
Both Barclays PLC and HSBC Holdings plc are headquartered in United Kingdom, meaning they operate under the same primary regulatory and tax environment.
Who founded Barclays PLC and HSBC Holdings plc?
Barclays PLC was founded by John Freame, Thomas Gould. HSBC Holdings plc was founded by Thomas Sutherland.
Which company has a longer operating history — Barclays PLC or HSBC Holdings plc?
HSBC Holdings plc has been operating for approximately 161 years, making it the more established of the two companies. Barclays PLC has been in operation for around 18 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Barclays vs HSBC overview