Incarceration and liquidation Incarceration and liquidation Incarceration and liquidation Incarceration and liquidation Incarceration and liquidation
Hong Kong surrendered to Japan on Christmas Day in 1941. HSBC and other banks in the city were immediately targeted for liquidation. The Japanese forces occupied our head office as their military headquarters and most of our overseas British employees were transferred to Stanley Internment Camp. Chief Manager Vandeleur Grayburn and his leadership team were placed under house arrest at Sheung Wan’s Sun Wah Hotel. They were marched to the bank each day to assist the Japanese liquidators.
Hong Kong surrendered to Japan on Christmas Day in 1941. HSBC and other banks in the city were immediately targeted for liquidation. The Japanese forces occupied our head office as their military headquarters and most of our overseas British employees were transferred to Stanley Internment Camp. Chief Manager Vandeleur Grayburn and his leadership team were placed under house arrest at Sheung Wan’s Sun Wah Hotel. They were marched to the bank each day to assist the Japanese liquidators.
Hong Kong surrendered to Japan on Christmas Day in 1941. HSBC and other banks in the city were immediately targeted for liquidation. The Japanese forces occupied our head office as their military headquarters and most of our overseas British employees were transferred to Stanley Internment Camp. Chief Manager Vandeleur Grayburn and his leadership team were placed under house arrest at Sheung Wan’s Sun Wah Hotel. They were marched to the bank each day to assist the Japanese liquidators.
Hong Kong surrendered to Japan on Christmas Day in 1941. HSBC and other banks in the city were immediately targeted for liquidation. The Japanese forces occupied our head office as their military headquarters and most of our overseas British employees were transferred to Stanley Internment Camp. Chief Manager Vandeleur Grayburn and his leadership team were placed under house arrest at Sheung Wan’s Sun Wah Hotel. They were marched to the bank each day to assist the Japanese liquidators.
Hong Kong surrendered to Japan on Christmas Day in 1941. HSBC and other banks in the city were immediately targeted for liquidation. The Japanese forces occupied our head office as their military headquarters and most of our overseas British employees were transferred to Stanley Internment Camp. Chief Manager Vandeleur Grayburn and his leadership team were placed under house arrest at Sheung Wan’s Sun Wah Hotel. They were marched to the bank each day to assist the Japanese liquidators.
A significant stock of unissued banknotes was discovered in HSBC's vaults during the takeover. Recognising the reliability of HSBC's notes in Hong Kong and Canton (Guangdong) province, the Japanese military compelled our staff to sign and issue this cache into the economy. The notes were later known as 'duress notes'.
A significant stock of unissued banknotes was discovered in HSBC's vaults during the takeover. Recognising the reliability of HSBC's notes in Hong Kong and Canton (Guangdong) province, the Japanese military compelled our staff to sign and issue this cache into the economy. The notes were later known as 'duress notes'.
A significant stock of unissued banknotes was discovered in HSBC's vaults during the takeover. Recognising the reliability of HSBC's notes in Hong Kong and Canton (Guangdong) province, the Japanese military compelled our staff to sign and issue this cache into the economy. The notes were later known as 'duress notes'.
A significant stock of unissued banknotes was discovered in HSBC's vaults during the takeover. Recognising the reliability of HSBC's notes in Hong Kong and Canton (Guangdong) province, the Japanese military compelled our staff to sign and issue this cache into the economy. The notes were later known as 'duress notes'.
A significant stock of unissued banknotes was discovered in HSBC's vaults during the takeover. Recognising the reliability of HSBC's notes in Hong Kong and Canton (Guangdong) province, the Japanese military compelled our staff to sign and issue this cache into the economy. The notes were later known as 'duress notes'.
The duress note circulation expanded in Hong Kong and China as war progressed. The notes were identical to HSBC's legal tender and therefore impossible for users to spot. However, without any reserve or legal backing, they were effectively worthless.
We were responsible for 95% of Hong Kong’s note circulation at this time. Not honouring these notes in the long run would severely undermine public confidence in the bank and devastate the economy. Therefore, addressing the issue of duress notes once the war ended would be a top priority for HSBC and the colonial government.
The duress note circulation expanded in Hong Kong and China as war progressed. The notes were identical to HSBC's legal tender and therefore impossible for users to spot. However, without any reserve or legal backing, they were effectively worthless.
We were responsible for 95% of Hong Kong’s note circulation at this time. Not honouring these notes in the long run would severely undermine public confidence in the bank and devastate the economy. Therefore, addressing the issue of duress notes once the war ended would be a top priority for HSBC and the colonial government.
The duress note circulation expanded in Hong Kong and China as war progressed. The notes were identical to HSBC's legal tender and therefore impossible for users to spot. However, without any reserve or legal backing, they were effectively worthless.
We were responsible for 95% of Hong Kong’s note circulation at this time. Not honouring these notes in the long run would severely undermine public confidence in the bank and devastate the economy. Therefore, addressing the issue of duress notes once the war ended would be a top priority for HSBC and the colonial government.
The duress note circulation expanded in Hong Kong and China as war progressed. The notes were identical to HSBC's legal tender and therefore impossible for users to spot. However, without any reserve or legal backing, they were effectively worthless.
We were responsible for 95% of Hong Kong’s note circulation at this time. Not honouring these notes in the long run would severely undermine public confidence in the bank and devastate the economy. Therefore, addressing the issue of duress notes once the war ended would be a top priority for HSBC and the colonial government.
The duress note circulation expanded in Hong Kong and China as war progressed. The notes were identical to HSBC's legal tender and therefore impossible for users to spot. However, without any reserve or legal backing, they were effectively worthless.
We were responsible for 95% of Hong Kong’s note circulation at this time. Not honouring these notes in the long run would severely undermine public confidence in the bank and devastate the economy. Therefore, addressing the issue of duress notes once the war ended would be a top priority for HSBC and the colonial government.
Should full acknowledgment be made of all British controlled currency, much of our prestige would be restored Should full acknowledgment be made of all British controlled currency, much of our prestige would be restored Should full acknowledgment be made of all British controlled currency, much of our prestige would be restored Should full acknowledgment be made of all British controlled currency, much of our prestige would be restored Should full acknowledgment be made of all British controlled currency, much of our prestige would be restored
It was dark and we could just barely make out a sampan lying off the shore. We lay down and this Chinese man worked an oar from the back. There were two Japanese destroyers only about a couple of hundred yards away and off we went. We got to the other side eventually and set off into the hills making for Free China. It was dark and we could just barely make out a sampan lying off the shore. We lay down and this Chinese man worked an oar from the back. There were two Japanese destroyers only about a couple of hundred yards away and off we went. We got to the other side eventually and set off into the hills making for Free China. It was dark and we could just barely make out a sampan lying off the shore. We lay down and this Chinese man worked an oar from the back. There were two Japanese destroyers only about a couple of hundred yards away and off we went. We got to the other side eventually and set off into the hills making for Free China. It was dark and we could just barely make out a sampan lying off the shore. We lay down and this Chinese man worked an oar from the back. There were two Japanese destroyers only about a couple of hundred yards away and off we went. We got to the other side eventually and set off into the hills making for Free China. It was dark and we could just barely make out a sampan lying off the shore. We lay down and this Chinese man worked an oar from the back. There were two Japanese destroyers only about a couple of hundred yards away and off we went. We got to the other side eventually and set off into the hills making for Free China.
Courageous integrity Courageous integrity Courageous integrity Courageous integrity Courageous integrity
Imprisonment, resistance, and subterfuge quickly became the norm for our staff as the daily realities of occupation dawned.
Despite working to liquidate bank assets for the Japanese, certain employees secretly served as “stay outs” for the British Army Aid Group – a military intelligence unit operating in China during occupation. They bravely passed on valuable financial information to the Allies to support the war effort. Our Chief Manager Vandeleur Grayburn was recruited under the code name “Night” in 1942.
The “stay outs” also helped smuggle money, food and medicine into Stanley Internment Camp – with vital support from some of the bank’s Portuguese and Chinese employees. These supplies helped alleviate suffering now being experienced by internees on low rations and scarce necessities.
Imprisonment, resistance, and subterfuge quickly became the norm for our staff as the daily realities of occupation dawned.
Despite working to liquidate bank assets for the Japanese, certain employees secretly served as “stay outs” for the British Army Aid Group – a military intelligence unit operating in China during occupation. They bravely passed on valuable financial information to the Allies to support the war effort. Our Chief Manager Vandeleur Grayburn was recruited under the code name “Night” in 1942.
The “stay outs” also helped smuggle money, food and medicine into Stanley Internment Camp – with vital support from some of the bank’s Portuguese and Chinese employees. These supplies helped alleviate suffering now being experienced by internees on low rations and scarce necessities.
Imprisonment, resistance, and subterfuge quickly became the norm for our staff as the daily realities of occupation dawned.
Despite working to liquidate bank assets for the Japanese, certain employees secretly served as “stay outs” for the British Army Aid Group – a military intelligence unit operating in China during occupation. They bravely passed on valuable financial information to the Allies to support the war effort. Our Chief Manager Vandeleur Grayburn was recruited under the code name “Night” in 1942.
The “stay outs” also helped smuggle money, food and medicine into Stanley Internment Camp – with vital support from some of the bank’s Portuguese and Chinese employees. These supplies helped alleviate suffering now being experienced by internees on low rations and scarce necessities.
Imprisonment, resistance, and subterfuge quickly became the norm for our staff as the daily realities of occupation dawned.
Despite working to liquidate bank assets for the Japanese, certain employees secretly served as “stay outs” for the British Army Aid Group – a military intelligence unit operating in China during occupation. They bravely passed on valuable financial information to the Allies to support the war effort. Our Chief Manager Vandeleur Grayburn was recruited under the code name “Night” in 1942.
The “stay outs” also helped smuggle money, food and medicine into Stanley Internment Camp – with vital support from some of the bank’s Portuguese and Chinese employees. These supplies helped alleviate suffering now being experienced by internees on low rations and scarce necessities.
Imprisonment, resistance, and subterfuge quickly became the norm for our staff as the daily realities of occupation dawned.
Despite working to liquidate bank assets for the Japanese, certain employees secretly served as “stay outs” for the British Army Aid Group – a military intelligence unit operating in China during occupation. They bravely passed on valuable financial information to the Allies to support the war effort. Our Chief Manager Vandeleur Grayburn was recruited under the code name “Night” in 1942.
The “stay outs” also helped smuggle money, food and medicine into Stanley Internment Camp – with vital support from some of the bank’s Portuguese and Chinese employees. These supplies helped alleviate suffering now being experienced by internees on low rations and scarce necessities.
I and my son used to meet clandestinely with Sir Vandeleur Grayburn and Mr. Edmondston (Grayburn's deputy) in the furniture stores of the Sincere and Wing On companies... to obtain from the Indian and Chinese merchants all the money that was required for the maintenance and relief of the British in the internment camps, and Indian soldiers imprisoned for refusing to cooperate with the Japanese. This underground activity continued until early in 1943. By that time I had spent nearly $200,000 out of my own pocket. I and my son used to meet clandestinely with Sir Vandeleur Grayburn and Mr. Edmondston (Grayburn's deputy) in the furniture stores of the Sincere and Wing On companies... to obtain from the Indian and Chinese merchants all the money that was required for the maintenance and relief of the British in the internment camps, and Indian soldiers imprisoned for refusing to cooperate with the Japanese. This underground activity continued until early in 1943. By that time I had spent nearly $200,000 out of my own pocket. I and my son used to meet clandestinely with Sir Vandeleur Grayburn and Mr. Edmondston (Grayburn's deputy) in the furniture stores of the Sincere and Wing On companies... to obtain from the Indian and Chinese merchants all the money that was required for the maintenance and relief of the British in the internment camps, and Indian soldiers imprisoned for refusing to cooperate with the Japanese. This underground activity continued until early in 1943. By that time I had spent nearly $200,000 out of my own pocket. I and my son used to meet clandestinely with Sir Vandeleur Grayburn and Mr. Edmondston (Grayburn's deputy) in the furniture stores of the Sincere and Wing On companies... to obtain from the Indian and Chinese merchants all the money that was required for the maintenance and relief of the British in the internment camps, and Indian soldiers imprisoned for refusing to cooperate with the Japanese. This underground activity continued until early in 1943. By that time I had spent nearly $200,000 out of my own pocket. I and my son used to meet clandestinely with Sir Vandeleur Grayburn and Mr. Edmondston (Grayburn's deputy) in the furniture stores of the Sincere and Wing On companies... to obtain from the Indian and Chinese merchants all the money that was required for the maintenance and relief of the British in the internment camps, and Indian soldiers imprisoned for refusing to cooperate with the Japanese. This underground activity continued until early in 1943. By that time I had spent nearly $200,000 out of my own pocket.
The Japanese occupied a vast area of south-east Asia by the summer of 1942. Despite grave danger, the 'stay outs' in Hong Kong managed to keep up communications with staff who had evaded capture. One message has survived and is carefully preserved in our archives. Only a tiny scrap of paper – smaller than a banknote – it is one of the most poignant documents amongst the hundreds of thousands of records we hold.
The note was written by Grayburn and illustrates the challenges that HSBC was battling that summer. It lists the names of staff killed in action, describes the bank secretly selling drafts in Rupees and Sterling to 'friendly nationals', and includes instructions to Acting Chief Manager Arthur Morse in London to withhold dividends until peacetime.
The Japanese occupied a vast area of south-east Asia by the summer of 1942. Despite grave danger, the 'stay outs' in Hong Kong managed to keep up communications with staff who had evaded capture. One message has survived and is carefully preserved in our archives. Only a tiny scrap of paper – smaller than a banknote – it is one of the most poignant documents amongst the hundreds of thousands of records we hold.
The note was written by Grayburn and illustrates the challenges that HSBC was battling that summer. It lists the names of staff killed in action, describes the bank secretly selling drafts in Rupees and Sterling to 'friendly nationals', and includes instructions to Acting Chief Manager Arthur Morse in London to withhold dividends until peacetime.
The Japanese occupied a vast area of south-east Asia by the summer of 1942. Despite grave danger, the 'stay outs' in Hong Kong managed to keep up communications with staff who had evaded capture. One message has survived and is carefully preserved in our archives. Only a tiny scrap of paper – smaller than a banknote – it is one of the most poignant documents amongst the hundreds of thousands of records we hold.
The note was written by Grayburn and illustrates the challenges that HSBC was battling that summer. It lists the names of staff killed in action, describes the bank secretly selling drafts in Rupees and Sterling to 'friendly nationals', and includes instructions to Acting Chief Manager Arthur Morse in London to withhold dividends until peacetime.
The Japanese occupied a vast area of south-east Asia by the summer of 1942. Despite grave danger, the 'stay outs' in Hong Kong managed to keep up communications with staff who had evaded capture. One message has survived and is carefully preserved in our archives. Only a tiny scrap of paper – smaller than a banknote – it is one of the most poignant documents amongst the hundreds of thousands of records we hold.
The note was written by Grayburn and illustrates the challenges that HSBC was battling that summer. It lists the names of staff killed in action, describes the bank secretly selling drafts in Rupees and Sterling to 'friendly nationals', and includes instructions to Acting Chief Manager Arthur Morse in London to withhold dividends until peacetime.
The Japanese occupied a vast area of south-east Asia by the summer of 1942. Despite grave danger, the 'stay outs' in Hong Kong managed to keep up communications with staff who had evaded capture. One message has survived and is carefully preserved in our archives. Only a tiny scrap of paper – smaller than a banknote – it is one of the most poignant documents amongst the hundreds of thousands of records we hold.
The note was written by Grayburn and illustrates the challenges that HSBC was battling that summer. It lists the names of staff killed in action, describes the bank secretly selling drafts in Rupees and Sterling to 'friendly nationals', and includes instructions to Acting Chief Manager Arthur Morse in London to withhold dividends until peacetime.
Grayburn, his deputy David Edmondston, and their colleague Charles (‘Ginger’) Hyde were arrested by the Japanese in June 1943. Grayburn’s role with the British Army Aid Group (BAAG) remained a secret, but he was imprisoned in Stanley for smuggling money to internees. He soon fell ill and succumbed to septic meningitis in August 1943. Arthur Morse had been Acting Chief Manager since December 1941. He was formally promoted to the role when the bank’s directors met on 23 September 1943 to record the death of Vandeleur Grayburn.
Accused of espionage, Hyde was executed alongside other BAAG agents in October 1943. Edmondston died of ill-treatment and malnutrition in August 1944. It was a tragic loss of a generation of our leadership.
Grayburn, his deputy David Edmondston, and their colleague Charles (‘Ginger’) Hyde were arrested by the Japanese in June 1943. Grayburn’s role with the British Army Aid Group (BAAG) remained a secret, but he was imprisoned in Stanley for smuggling money to internees. He soon fell ill and succumbed to septic meningitis in August 1943. Arthur Morse had been Acting Chief Manager since December 1941. He was formally promoted to the role when the bank’s directors met on 23 September 1943 to record the death of Vandeleur Grayburn.
Accused of espionage, Hyde was executed alongside other BAAG agents in October 1943. Edmondston died of ill-treatment and malnutrition in August 1944. It was a tragic loss of a generation of our leadership.
Grayburn, his deputy David Edmondston, and their colleague Charles (‘Ginger’) Hyde were arrested by the Japanese in June 1943. Grayburn’s role with the British Army Aid Group (BAAG) remained a secret, but he was imprisoned in Stanley for smuggling money to internees. He soon fell ill and succumbed to septic meningitis in August 1943. Arthur Morse had been Acting Chief Manager since December 1941. He was formally promoted to the role when the bank’s directors met on 23 September 1943 to record the death of Vandeleur Grayburn.
Accused of espionage, Hyde was executed alongside other BAAG agents in October 1943. Edmondston died of ill-treatment and malnutrition in August 1944. It was a tragic loss of a generation of our leadership.
Grayburn, his deputy David Edmondston, and their colleague Charles (‘Ginger’) Hyde were arrested by the Japanese in June 1943. Grayburn’s role with the British Army Aid Group (BAAG) remained a secret, but he was imprisoned in Stanley for smuggling money to internees. He soon fell ill and succumbed to septic meningitis in August 1943. Arthur Morse had been Acting Chief Manager since December 1941. He was formally promoted to the role when the bank’s directors met on 23 September 1943 to record the death of Vandeleur Grayburn.
Accused of espionage, Hyde was executed alongside other BAAG agents in October 1943. Edmondston died of ill-treatment and malnutrition in August 1944. It was a tragic loss of a generation of our leadership.
Grayburn, his deputy David Edmondston, and their colleague Charles (‘Ginger’) Hyde were arrested by the Japanese in June 1943. Grayburn’s role with the British Army Aid Group (BAAG) remained a secret, but he was imprisoned in Stanley for smuggling money to internees. He soon fell ill and succumbed to septic meningitis in August 1943. Arthur Morse had been Acting Chief Manager since December 1941. He was formally promoted to the role when the bank’s directors met on 23 September 1943 to record the death of Vandeleur Grayburn.
Accused of espionage, Hyde was executed alongside other BAAG agents in October 1943. Edmondston died of ill-treatment and malnutrition in August 1944. It was a tragic loss of a generation of our leadership.
Staying the course Staying the course Staying the course Staying the course Staying the course
As the war progressed, staff across our network took grave personal risks to protect customer interests and help colleagues. Many employees demonstrated great courage, keeping their branches open until the last possible moment to help customers access cash and send money abroad. Most overseas British staff were eventually captured and interned in civilian camps.
As the war progressed, staff across our network took grave personal risks to protect customer interests and help colleagues. Many employees demonstrated great courage, keeping their branches open until the last possible moment to help customers access cash and send money abroad. Most overseas British staff were eventually captured and interned in civilian camps.
As the war progressed, staff across our network took grave personal risks to protect customer interests and help colleagues. Many employees demonstrated great courage, keeping their branches open until the last possible moment to help customers access cash and send money abroad. Most overseas British staff were eventually captured and interned in civilian camps.
As the war progressed, staff across our network took grave personal risks to protect customer interests and help colleagues. Many employees demonstrated great courage, keeping their branches open until the last possible moment to help customers access cash and send money abroad. Most overseas British staff were eventually captured and interned in civilian camps.
As the war progressed, staff across our network took grave personal risks to protect customer interests and help colleagues. Many employees demonstrated great courage, keeping their branches open until the last possible moment to help customers access cash and send money abroad. Most overseas British staff were eventually captured and interned in civilian camps.
Manila
One such courageous individual was Maxwell Haymes. With the bank since 1928, Max was imprisoned in Manila in 1941 and kept a diary at great personal risk. He chronicled the scarcity of food, camp conditions, and what he saw of the war. Haymes was allowed to marry in the camp, and he and his wife were rescued along with the other prisoners by US forces on 23 February 1945. After surviving his ordeal, Haymes was promoted to Accountant in 1950 at the bank’s Orchard Road office in Singapore. He enjoyed successful years in Borneo as Manager before retiring in 1961 after more than 30 years of service.
Manila
One such courageous individual was Maxwell Haymes. With the bank since 1928, Max was imprisoned in Manila in 1941 and kept a diary at great personal risk. He chronicled the scarcity of food, camp conditions, and what he saw of the war. Haymes was allowed to marry in the camp, and he and his wife were rescued along with the other prisoners by US forces on 23 February 1945. After surviving his ordeal, Haymes was promoted to Accountant in 1950 at the bank’s Orchard Road office in Singapore. He enjoyed successful years in Borneo as Manager before retiring in 1961 after more than 30 years of service.
Manila
One such courageous individual was Maxwell Haymes. With the bank since 1928, Max was imprisoned in Manila in 1941 and kept a diary at great personal risk. He chronicled the scarcity of food, camp conditions, and what he saw of the war. Haymes was allowed to marry in the camp, and he and his wife were rescued along with the other prisoners by US forces on 23 February 1945. After surviving his ordeal, Haymes was promoted to Accountant in 1950 at the bank’s Orchard Road office in Singapore. He enjoyed successful years in Borneo as Manager before retiring in 1961 after more than 30 years of service.
Manila
One such courageous individual was Maxwell Haymes. With the bank since 1928, Max was imprisoned in Manila in 1941 and kept a diary at great personal risk. He chronicled the scarcity of food, camp conditions, and what he saw of the war. Haymes was allowed to marry in the camp, and he and his wife were rescued along with the other prisoners by US forces on 23 February 1945. After surviving his ordeal, Haymes was promoted to Accountant in 1950 at the bank’s Orchard Road office in Singapore. He enjoyed successful years in Borneo as Manager before retiring in 1961 after more than 30 years of service.
Manila
One such courageous individual was Maxwell Haymes. With the bank since 1928, Max was imprisoned in Manila in 1941 and kept a diary at great personal risk. He chronicled the scarcity of food, camp conditions, and what he saw of the war. Haymes was allowed to marry in the camp, and he and his wife were rescued along with the other prisoners by US forces on 23 February 1945. After surviving his ordeal, Haymes was promoted to Accountant in 1950 at the bank’s Orchard Road office in Singapore. He enjoyed successful years in Borneo as Manager before retiring in 1961 after more than 30 years of service.
Shanghai
After joining the bank in Shanghai in 1932 as an office junior, Zee Tsung Yung (Mr Zee) went on to work in many different departments. During the Japanese occupation he demonstrated great courage in saving customer records and secretly maintaining a log of what was removed during the branch’s forced liquidation. This log helped reconstruct the branch’s business after the war. In 1982, Mr Zee retired from the bank after 50 years’ service.
Shanghai
After joining the bank in Shanghai in 1932 as an office junior, Zee Tsung Yung (Mr Zee) went on to work in many different departments. During the Japanese occupation he demonstrated great courage in saving customer records and secretly maintaining a log of what was removed during the branch’s forced liquidation. This log helped reconstruct the branch’s business after the war. In 1982, Mr Zee retired from the bank after 50 years’ service.
Shanghai
After joining the bank in Shanghai in 1932 as an office junior, Zee Tsung Yung (Mr Zee) went on to work in many different departments. During the Japanese occupation he demonstrated great courage in saving customer records and secretly maintaining a log of what was removed during the branch’s forced liquidation. This log helped reconstruct the branch’s business after the war. In 1982, Mr Zee retired from the bank after 50 years’ service.
Shanghai
After joining the bank in Shanghai in 1932 as an office junior, Zee Tsung Yung (Mr Zee) went on to work in many different departments. During the Japanese occupation he demonstrated great courage in saving customer records and secretly maintaining a log of what was removed during the branch’s forced liquidation. This log helped reconstruct the branch’s business after the war. In 1982, Mr Zee retired from the bank after 50 years’ service.
Shanghai
After joining the bank in Shanghai in 1932 as an office junior, Zee Tsung Yung (Mr Zee) went on to work in many different departments. During the Japanese occupation he demonstrated great courage in saving customer records and secretly maintaining a log of what was removed during the branch’s forced liquidation. This log helped reconstruct the branch’s business after the war. In 1982, Mr Zee retired from the bank after 50 years’ service.
Malaya
Singapore was a venue for evacuees from our Malaya branches when the states were invaded in December 1941. They often managed to carry ledgers and records with them. All overseas staff, apart from those mobilized with the volunteer forces, then took up residence at the Collyer Quay office. It did not remain a safe house for long as the Allies in Singapore surrendered on 15 February 1942. Many of our employees were interned, but a small group escaped by aeroplane with valuable copies of the bank’s key records.
Malaya
Singapore was a venue for evacuees from our Malaya branches when the states were invaded in December 1941. They often managed to carry ledgers and records with them. All overseas staff, apart from those mobilized with the volunteer forces, then took up residence at the Collyer Quay office. It did not remain a safe house for long as the Allies in Singapore surrendered on 15 February 1942. Many of our employees were interned, but a small group escaped by aeroplane with valuable copies of the bank’s key records.
Malaya
Singapore was a venue for evacuees from our Malaya branches when the states were invaded in December 1941. They often managed to carry ledgers and records with them. All overseas staff, apart from those mobilized with the volunteer forces, then took up residence at the Collyer Quay office. It did not remain a safe house for long as the Allies in Singapore surrendered on 15 February 1942. Many of our employees were interned, but a small group escaped by aeroplane with valuable copies of the bank’s key records.
Malaya
Singapore was a venue for evacuees from our Malaya branches when the states were invaded in December 1941. They often managed to carry ledgers and records with them. All overseas staff, apart from those mobilized with the volunteer forces, then took up residence at the Collyer Quay office. It did not remain a safe house for long as the Allies in Singapore surrendered on 15 February 1942. Many of our employees were interned, but a small group escaped by aeroplane with valuable copies of the bank’s key records.
Malaya
Singapore was a venue for evacuees from our Malaya branches when the states were invaded in December 1941. They often managed to carry ledgers and records with them. All overseas staff, apart from those mobilized with the volunteer forces, then took up residence at the Collyer Quay office. It did not remain a safe house for long as the Allies in Singapore surrendered on 15 February 1942. Many of our employees were interned, but a small group escaped by aeroplane with valuable copies of the bank’s key records.
Greetings from the interned staff in Malaya! Twenty-five of us were caught when Singapore fell in 1942 and I am happy to report that all the twenty-five come out in reasonably good condition. Our books were in good shape, and, if we are fortunate enough to recover them, the work of reconstruction should be a comparatively simple matter. Greetings from the interned staff in Malaya! Twenty-five of us were caught when Singapore fell in 1942 and I am happy to report that all the twenty-five come out in reasonably good condition. Our books were in good shape, and, if we are fortunate enough to recover them, the work of reconstruction should be a comparatively simple matter. Greetings from the interned staff in Malaya! Twenty-five of us were caught when Singapore fell in 1942 and I am happy to report that all the twenty-five come out in reasonably good condition. Our books were in good shape, and, if we are fortunate enough to recover them, the work of reconstruction should be a comparatively simple matter. Greetings from the interned staff in Malaya! Twenty-five of us were caught when Singapore fell in 1942 and I am happy to report that all the twenty-five come out in reasonably good condition. Our books were in good shape, and, if we are fortunate enough to recover them, the work of reconstruction should be a comparatively simple matter. Greetings from the interned staff in Malaya! Twenty-five of us were caught when Singapore fell in 1942 and I am happy to report that all the twenty-five come out in reasonably good condition. Our books were in good shape, and, if we are fortunate enough to recover them, the work of reconstruction should be a comparatively simple matter.
The road back The road back The road back The road back The road back
Through a quirk of history, HSBC had the good fortune to possess two outstanding leaders to command the bank during its darkest hours. While Vandeleur Grayburn endured the trials of Hong Kong’s occupation, Arthur Morse never relinquished hope of the bank’s return. Our archives reveal how he was actively planning and communicating to put HSBC on the road back to recovery.
Through a quirk of history, HSBC had the good fortune to possess two outstanding leaders to command the bank during its darkest hours. While Vandeleur Grayburn endured the trials of Hong Kong’s occupation, Arthur Morse never relinquished hope of the bank’s return. Our archives reveal how he was actively planning and communicating to put HSBC on the road back to recovery.
Through a quirk of history, HSBC had the good fortune to possess two outstanding leaders to command the bank during its darkest hours. While Vandeleur Grayburn endured the trials of Hong Kong’s occupation, Arthur Morse never relinquished hope of the bank’s return. Our archives reveal how he was actively planning and communicating to put HSBC on the road back to recovery.
Through a quirk of history, HSBC had the good fortune to possess two outstanding leaders to command the bank during its darkest hours. While Vandeleur Grayburn endured the trials of Hong Kong’s occupation, Arthur Morse never relinquished hope of the bank’s return. Our archives reveal how he was actively planning and communicating to put HSBC on the road back to recovery.
Through a quirk of history, HSBC had the good fortune to possess two outstanding leaders to command the bank during its darkest hours. While Vandeleur Grayburn endured the trials of Hong Kong’s occupation, Arthur Morse never relinquished hope of the bank’s return. Our archives reveal how he was actively planning and communicating to put HSBC on the road back to recovery.
Leading the bank from our temporary headquarters in London and now without his confidante and mentor Grayburn, Morse was thrust into the bank’s top role at the worst of times. Most of our branches were in enemy hands. At least six employees had died defending Hong Kong and 13 would perish in captivity across Asia. Even our talismanic lions, Stephen and Stitt, had vanished from their sentry posts next to the Queen’s Road entrance of our Hong Kong head office.
Morse rose to these challenges and proved an outstanding captain in times of crisis. Firstly, he had to ensure the bank could survive the extraordinary expenses of wartime. HSBC had a longstanding policy of strong sterling reserves and self-reliance. The actual number was not public knowledge, since this was an era when such disclosures were not required. The story goes that Morse was called in to see the Governor of the Bank of England. The Governor was doubtful of HSBC’s survival chances. Morse simply slid a handwritten note across the desk revealing the reserves total. This simple exchange assured the central bank that we had ample funds to resume operations in peacetime.
Leading the bank from our temporary headquarters in London and now without his confidante and mentor Grayburn, Morse was thrust into the bank’s top role at the worst of times. Most of our branches were in enemy hands. At least six employees had died defending Hong Kong and 13 would perish in captivity across Asia. Even our talismanic lions, Stephen and Stitt, had vanished from their sentry posts next to the Queen’s Road entrance of our Hong Kong head office.
Morse rose to these challenges and proved an outstanding captain in times of crisis. Firstly, he had to ensure the bank could survive the extraordinary expenses of wartime. HSBC had a longstanding policy of strong sterling reserves and self-reliance. The actual number was not public knowledge, since this was an era when such disclosures were not required. The story goes that Morse was called in to see the Governor of the Bank of England. The Governor was doubtful of HSBC’s survival chances. Morse simply slid a handwritten note across the desk revealing the reserves total. This simple exchange assured the central bank that we had ample funds to resume operations in peacetime.
Leading the bank from our temporary headquarters in London and now without his confidante and mentor Grayburn, Morse was thrust into the bank’s top role at the worst of times. Most of our branches were in enemy hands. At least six employees had died defending Hong Kong and 13 would perish in captivity across Asia. Even our talismanic lions, Stephen and Stitt, had vanished from their sentry posts next to the Queen’s Road entrance of our Hong Kong head office.
Morse rose to these challenges and proved an outstanding captain in times of crisis. Firstly, he had to ensure the bank could survive the extraordinary expenses of wartime. HSBC had a longstanding policy of strong sterling reserves and self-reliance. The actual number was not public knowledge, since this was an era when such disclosures were not required. The story goes that Morse was called in to see the Governor of the Bank of England. The Governor was doubtful of HSBC’s survival chances. Morse simply slid a handwritten note across the desk revealing the reserves total. This simple exchange assured the central bank that we had ample funds to resume operations in peacetime.
Leading the bank from our temporary headquarters in London and now without his confidante and mentor Grayburn, Morse was thrust into the bank’s top role at the worst of times. Most of our branches were in enemy hands. At least six employees had died defending Hong Kong and 13 would perish in captivity across Asia. Even our talismanic lions, Stephen and Stitt, had vanished from their sentry posts next to the Queen’s Road entrance of our Hong Kong head office.
Morse rose to these challenges and proved an outstanding captain in times of crisis. Firstly, he had to ensure the bank could survive the extraordinary expenses of wartime. HSBC had a longstanding policy of strong sterling reserves and self-reliance. The actual number was not public knowledge, since this was an era when such disclosures were not required. The story goes that Morse was called in to see the Governor of the Bank of England. The Governor was doubtful of HSBC’s survival chances. Morse simply slid a handwritten note across the desk revealing the reserves total. This simple exchange assured the central bank that we had ample funds to resume operations in peacetime.
Leading the bank from our temporary headquarters in London and now without his confidante and mentor Grayburn, Morse was thrust into the bank’s top role at the worst of times. Most of our branches were in enemy hands. At least six employees had died defending Hong Kong and 13 would perish in captivity across Asia. Even our talismanic lions, Stephen and Stitt, had vanished from their sentry posts next to the Queen’s Road entrance of our Hong Kong head office.
Morse rose to these challenges and proved an outstanding captain in times of crisis. Firstly, he had to ensure the bank could survive the extraordinary expenses of wartime. HSBC had a longstanding policy of strong sterling reserves and self-reliance. The actual number was not public knowledge, since this was an era when such disclosures were not required. The story goes that Morse was called in to see the Governor of the Bank of England. The Governor was doubtful of HSBC’s survival chances. Morse simply slid a handwritten note across the desk revealing the reserves total. This simple exchange assured the central bank that we had ample funds to resume operations in peacetime.
During the war information was a scarce commodity, with many relatives of staff anxious to hear news of loved ones stuck in conflict zones. In these letters to Mrs Carruthers in 1942, Morse provides what information he has on the situation in Hong Kong and Macau.
HSBC’s archives contain hundreds of Morse’s letters to families and dependents; passing on news, addressing financial concerns, and easing the waiting and the worrying.
Morse’s duty of care to his employees was exemplary. He communicated tirelessly during the war, relaying any information he could to anxious wives and family regarding the whereabouts and physical condition of his staff. He handwrote many of the letters of encouragement or condolences. Morse also managed the Far Eastern Relief Fund to help other refugees is Asia. He was created a Commander of the Order of the British Empire (CBE) in 1944 for this and other related work.
During the war information was a scarce commodity, with many relatives of staff anxious to hear news of loved ones stuck in conflict zones. In these letters to Mrs Carruthers in 1942, Morse provides what information he has on the situation in Hong Kong and Macau.
HSBC’s archives contain hundreds of Morse’s letters to families and dependents; passing on news, addressing financial concerns, and easing the waiting and the worrying.
Morse’s duty of care to his employees was exemplary. He communicated tirelessly during the war, relaying any information he could to anxious wives and family regarding the whereabouts and physical condition of his staff. He handwrote many of the letters of encouragement or condolences. Morse also managed the Far Eastern Relief Fund to help other refugees is Asia. He was created a Commander of the Order of the British Empire (CBE) in 1944 for this and other related work.
During the war information was a scarce commodity, with many relatives of staff anxious to hear news of loved ones stuck in conflict zones. In these letters to Mrs Carruthers in 1942, Morse provides what information he has on the situation in Hong Kong and Macau.
HSBC’s archives contain hundreds of Morse’s letters to families and dependents; passing on news, addressing financial concerns, and easing the waiting and the worrying.
Morse’s duty of care to his employees was exemplary. He communicated tirelessly during the war, relaying any information he could to anxious wives and family regarding the whereabouts and physical condition of his staff. He handwrote many of the letters of encouragement or condolences. Morse also managed the Far Eastern Relief Fund to help other refugees is Asia. He was created a Commander of the Order of the British Empire (CBE) in 1944 for this and other related work.
During the war information was a scarce commodity, with many relatives of staff anxious to hear news of loved ones stuck in conflict zones. In these letters to Mrs Carruthers in 1942, Morse provides what information he has on the situation in Hong Kong and Macau.
HSBC’s archives contain hundreds of Morse’s letters to families and dependents; passing on news, addressing financial concerns, and easing the waiting and the worrying.
Morse’s duty of care to his employees was exemplary. He communicated tirelessly during the war, relaying any information he could to anxious wives and family regarding the whereabouts and physical condition of his staff. He handwrote many of the letters of encouragement or condolences. Morse also managed the Far Eastern Relief Fund to help other refugees is Asia. He was created a Commander of the Order of the British Empire (CBE) in 1944 for this and other related work.
During the war information was a scarce commodity, with many relatives of staff anxious to hear news of loved ones stuck in conflict zones. In these letters to Mrs Carruthers in 1942, Morse provides what information he has on the situation in Hong Kong and Macau.
HSBC’s archives contain hundreds of Morse’s letters to families and dependents; passing on news, addressing financial concerns, and easing the waiting and the worrying.
Morse’s duty of care to his employees was exemplary. He communicated tirelessly during the war, relaying any information he could to anxious wives and family regarding the whereabouts and physical condition of his staff. He handwrote many of the letters of encouragement or condolences. Morse also managed the Far Eastern Relief Fund to help other refugees is Asia. He was created a Commander of the Order of the British Empire (CBE) in 1944 for this and other related work.
Morse’s next priority was the recovery of Hong Kong and our clients. He was convinced of an eventual Allied victory and planned accordingly. He stayed in close touch with businesses that would play a key role in rehabilitating the city. Power companies, docks and telephone firms were all offered financial packages to ensure the city would recover quickly when war ended.
Morse’s next priority was the recovery of Hong Kong and our clients. He was convinced of an eventual Allied victory and planned accordingly. He stayed in close touch with businesses that would play a key role in rehabilitating the city. Power companies, docks and telephone firms were all offered financial packages to ensure the city would recover quickly when war ended.
Morse’s next priority was the recovery of Hong Kong and our clients. He was convinced of an eventual Allied victory and planned accordingly. He stayed in close touch with businesses that would play a key role in rehabilitating the city. Power companies, docks and telephone firms were all offered financial packages to ensure the city would recover quickly when war ended.
Morse’s next priority was the recovery of Hong Kong and our clients. He was convinced of an eventual Allied victory and planned accordingly. He stayed in close touch with businesses that would play a key role in rehabilitating the city. Power companies, docks and telephone firms were all offered financial packages to ensure the city would recover quickly when war ended.
Morse’s next priority was the recovery of Hong Kong and our clients. He was convinced of an eventual Allied victory and planned accordingly. He stayed in close touch with businesses that would play a key role in rehabilitating the city. Power companies, docks and telephone firms were all offered financial packages to ensure the city would recover quickly when war ended.
Morse also personally negotiated to acquire a new plant for installation in a Kowloon power station (pictured) for the bank’s longstanding client China Light & Power
Morse also personally negotiated to acquire a new plant for installation in a Kowloon power station (pictured) for the bank’s longstanding client China Light & Power
Morse also personally negotiated to acquire a new plant for installation in a Kowloon power station (pictured) for the bank’s longstanding client China Light & Power
Morse also personally negotiated to acquire a new plant for installation in a Kowloon power station (pictured) for the bank’s longstanding client China Light & Power
Morse also personally negotiated to acquire a new plant for installation in a Kowloon power station (pictured) for the bank’s longstanding client China Light & Power
With the end of the Pacific War in August 1945, the bank had survived its toughest test, thanks in no small part to the resilience and integrity of our employees. Arthur Morse and his management team were under no illusions about the scale of the task ahead. Hong Kong was in economic and physical ruin and much of Asia was still in turmoil. We faced a long road back.
Stay tuned for Part Three of this trilogy
With the end of the Pacific War in August 1945, the bank had survived its toughest test, thanks in no small part to the resilience and integrity of our employees. Arthur Morse and his management team were under no illusions about the scale of the task ahead. Hong Kong was in economic and physical ruin and much of Asia was still in turmoil. We faced a long road back.
Stay tuned for Part Three of this trilogy
With the end of the Pacific War in August 1945, the bank had survived its toughest test, thanks in no small part to the resilience and integrity of our employees. Arthur Morse and his management team were under no illusions about the scale of the task ahead. Hong Kong was in economic and physical ruin and much of Asia was still in turmoil. We faced a long road back.
Stay tuned for Part Three of this trilogy
With the end of the Pacific War in August 1945, the bank had survived its toughest test, thanks in no small part to the resilience and integrity of our employees. Arthur Morse and his management team were under no illusions about the scale of the task ahead. Hong Kong was in economic and physical ruin and much of Asia was still in turmoil. We faced a long road back.
Stay tuned for Part Three of this trilogy
With the end of the Pacific War in August 1945, the bank had survived its toughest test, thanks in no small part to the resilience and integrity of our employees. Arthur Morse and his management team were under no illusions about the scale of the task ahead. Hong Kong was in economic and physical ruin and much of Asia was still in turmoil. We faced a long road back.
Stay tuned for Part Three of this trilogy
Our Darkest Hours
