"The Hongkong and Shanghai Bank" was founded by Scotsman Sir Thomas Sutherland in the then British colony of Hong Kong on 3 March 1865, and in Shanghai a month later, benefiting from the start of trading into China, including opium trading. It was formally incorporated as "The Hongkong and Shanghai Banking Corporation" by an Ordinance of the Legislative Council of Hong Kong on 14 August 1866. In 1980, HSBC acquired a 51% shareholding in US-based Marine Midland Bank, which it extended to full ownership in 1987. On 6 October 1989, it was renamed by the Legislative Council, by an amendment to its governing ordinance originally made in 1929, "The Hongkong and Shanghai Banking Corporation Limited", and became registered as a regulated bank with the then Banking Commissioner of the Government of Hong Kong. "HSBC Holdings plc", originally incorporated in England and Wales, in the United Kingdom, as "Vernat Trading Company Limited" on 1 January 1959 and then renamed "Vernat Eastern Agencies…
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