One of the most powerful men in the banking world ? HSBC Group chairman Sir John Bond ? is coming to Bermuda.

Sir John?s visit to to the Island follows HSBC?s bid to buy the Bank of Bermuda, with the $1.3 billion sale already approved by Government but pending regulatory and shareholder approval. Investors are set to vote on the deal next month, and the Bermuda Monetary Authority?s decision is expected shortly.

Sir John?s trip to Bermuda was confirmed by the bank this week, although a bank spokesperson said details of the visit would not be made public until today.

It is understood that Sir John was not directly involved in the bank?s sale negotiations. In a previous interview with bank CEO Henry Smith said he knew Sir John, having dealt with him at various meetings of financial service organisations, but that HSBC?s top man had not been directly involved when it came to selling the bank to HSBC.

Sir John has worked for HSBC for more than four decades; joining the Hong Kong Shanghai Banking Corporation in 1961, when he would have been in his late teens.

Over time he worked his way up to the position of executive director of The Hong Kong and Shanghai Banking Corporation Limited, a position he held from 1988 to 1992.

Today he is chairman of a group that has seen exponential growth from a market capitalisation of $154 million at the time he joined the organisation, to $175.2 billion now.

HSBC?s market capitalisation makes it the second largest financial services organisation (by market capitalisation) in the world, trailing behind Citigroup in top place with market capitalisation of $261 billion.

Sir John, 61, has been an executive director of the group since 1990. He was chief executive officer of the group from 1993 to 1998.

He is also chairman of The Institute of International Finance, Inc. and a director of Ford Motor Company, and a member of the Court of the Bank of England.

HSBC has been on a buy-up binge this year, expanding its network around the globe ? it has offices in 79 countries ? with a focus on the Americas including acquisitions in Brazil and US consumer group Household International.

HSBC has said previously that its interest in the Bank of Bermuda has much to do with the bank?s strong fund administration business ? with the bank holding the market share of that business in Asia ? and its private banking business.

In an interview with Banker magazine in October, 2003, Sir John conceded that one of the things the multinational banking giant looked for in its acquisitions were the client lists of the bank being looked at.

?Our acquisition strategy is very heavily tilted towards buying client lists. We don?t need to buy the means of production, we?ve got a huge array of very smart, talented people.

?It is quite an interesting washing list we go through when we look at an acquisition target because we are looking at one every day at least.

?The first thing we do is acquire a client list,? he said, and said other questions HSBC would look at were: ?Is the technology compatible? Is the character, the human side of the organisation, compatible? Why is it worth more in our hands than in their hands? And finally we will get down to the price.?

After the bank?s proposed sale was announced on October 28, Sir John described the takeover of Bank of Bermuda to UK newspaper, The Guardian, as an excellent strategic fit.

?The acquisition will significantly enhance our capabilities in some important lines of business.

?As a result of the deal, HSBC will have an additional 5,000 extremely wealthy clients as well as an increased presence in Bermuda, which is often chosen as a base for major hedge funds and US reinsurance companies.

?Some jobs are expected to be lost in some of the other off-shore centres where Bank of Bermuda has overlapping operations with HSBC, which has been trying to boost its presence in so-called wealth management.?

Analysts at Fox-Pitt Kelton also told The Guardian that the cash deal was ?immaterial in group terms? for HSBC, ?however, it fits with HSBC?s wealth management intentions,? the analysts said.