In 1971, I joined a group of elite Resident Officers in Training at HSBC Main Office in Central District, Hong Kong. HSBC (prior to 1991 was known as Hongkong and Shanghai Banking Corporation) was growing by leap and bound in the 1960’s, and rightfully then opened up its executive position to local staff. ROT (Resident Officer Trainees) were a privileged batch of local staff, on the way to take up executive positions of the Bank. We jumped many levels, and after two to three years of intensive training in a wide range of the bank disciplines, we were appointed Resident Officer, a grade way above the local branch managers. Potentially, Resident Officers could move up the corporate ladder to the Chief Executive Officer position.
HSBC was then very much a British Institution, run on the British system of governance. Having earlier worked in a British environment at the Ministry of Finance in Mauritius, I felt comfortable and adapted to the Bank system very easily.
The rank of a Resident Officer came with a generous salary and attractive perks.
Similar with other British Empire administrations around the World, Bank officers were served morning and afternoon tea in formal cup and saucer. At 10 am and 3 pm the bank office boy brought the tea to our desk, a privilege that was much envied by the lower rank personnel. The office boys, headed by a Head Boy who exclusively served the General Manager, were at our disposal to carry out our personal errands, whether it was delivering a parcel or buying a movie ticket.
We had lunch at the Officer’s mess on the 7th floor of the Head Office bank building, where servers dressed in white uniforms attended to our needs, starting with soup of the day, bread and butter, a main course, dessert and tea or coffee. Every Thursday was “Curry Day”, a favourite of many of us. Expatriates usually started their career at HSBC in India before progressing to Hong Kong, and they had developed a craving for authentic Indian cuisine.
The greatest benefit I personally earned was the interest free and no down-payment housing loan available to Resident Officers. The zero down-payment privilege meant that I was able to buy an apartment many years earlier when the price of housing was at a lower level. To put it in perspective, when I left the Bank seven years after purchasing my apartment, the capital gain was enough to buy outright a standard house in Toronto.
The Bank owned several Bungalows on Lantao Island, an hour boat ride away from Central. We were entitled to enjoy the bungalow for a week every year. This perk included the use of a car. Also, we could use the Bank boat, equipped with a full crew, twice a year to cruise the magnificent Hong Kong harbour, and to go visit the hundreds of islands that make up Hong Kong. We also enjoyed a 50% discount on air ticket on Cathay Pacific Airways in which the Bank was a major shareholder. There was also a squash court in the Head Office building which we were entitled to use.
Ranks were a serious matter in the British scheme of things. Many would not know that Officers had their own washroom, separated from the rank and file. Management of certain ranks further had their own exclusive washrooms. There was even a “Chairman Lift”, for use by the Chairman exclusively, which stopped only at the Chairman’s flat on the top floor of the Head Office building.
Bachelor Junior Expatriates lived in a resort like residence nestled on the Peak, with swimming pool, dining room, recreation room, lounge, squash court and tennis court, with a grand view of Hong Kong and Kowloon and the spectacular Victoria Harbour. The “Peak” is a prestigious neighbourhood on top of the mountain looking down to the Central District of Hong Kong. The residence was accurately named “Cloudlands” as the place was often wrapped in clouds. Married and Senior Expatriates lived in houses or plush apartments, while the Chairman lived on a huge house on a hill up on the Peak, which we called Chairman House.
To westerners, the Far East was a mystic place, and young International Officers freshly recruited from London could hardly hold their breath when they first arrived in Hong Kong. Many were excited with the dynamism of the City and all the things that were told them but only now could be experienced. Wanchai, a favourite place for visiting American soldiers on recreation, was drenched with girlie bars and massage parlours where the movie “The World of Suzie Wong” was filmed. Young International Officers were not spared the temptation of frequenting Wanchai, now and then ended up in ugly brawls. When caught, they had to pack overnight and leave Hong Kong on the next available plane for a “hardship” posting in India or Bandar Seri Begawan.
