A visit by big wigs from multinational banking giant HSBC next week may bring home just how much the sale of the Island?s largest bank ? the Bank of Bermuda ? changes the face of the institution.

The bank ? not only the Island?s largest financial institution, but also its biggest private employer ? was sold to HSBC last February after overwhelming shareholder approval of the $1.3 billion deal.

Now, less than a year on, the powerful HSBC board is set to jet to these shores for their end of January board meeting, the bank confirmed this week.

Although staff and customers of the bank have had nigh on a year to get used to the bank?s change in ownership, the visit by a contingent of HSBC top brass will mark the first time such a large representation from the new parent will be here. Such a high-profile visit may knock down any illusions that the bank?s changing hands spells little change for the institution. In the run up to the sale, both management of the bank and HSBC?s senior executives said to expect little change within the Bermuda operations.

A year on, there have undeniably been changes ? there are new faces (including several HSBC veterans taking up senior posts), continued staff shake-ups with up to 250 redundancies said to be expected through the first three years of the acquisition, an on-going migration to HSBC technology platforms and more and more HSBC products coming online.

Within the first days after the sale, the bank?s top management ? which it had been said would remain largely Bermudian ? saw the number two and three spots go to HSBC executives, with Andy Gent named as CFO and Nigel Crow named COO. In the interim there have also been at least three other HSBC appointments made within the bank.

But the top management position has remained in local hands with Philip Butterfield, who had been COO, being named to the CEO spot. This marked the first time a black Bermudian had been given the top post.

A bank spokesperson said the schedule for the visit ? including plans for discussions with Government and business leaders, bank clients, staff, board members and a Press briefing ? was falling between January 26 and January 29.

Two of those slated to be in Bermuda next week are group chairman Sir John Bond, one of the most powerful men in banking circles, and group CEO Stephen Green. Both Sir John and Mr. Green visited Bermuda last year, as a result of HSBC?s bid for the bank, but at separate times. It is unknown if there will be any significant changes for the bank announced during this visit, but all 22 HSBC heavyweights are expected to make the journey to the Island. Presiding over the proceedings will no doubt be group chairman Sir John, who it is expected will be joined by non-executive director and deputy chairman, the Baroness Dunn, Sir Brian Moffat, Stephen Green (group CEO), Alan W. Jebson (group COO), W.F. Aldinger, the Rt. Hon. the Lord Butler of Brockwell, R.K.F. Ch?ien, D.G. Eldon, R.A. Fairhead, D.J. Flint, W.K.L. Fung, M.F. Geoghegan, S. Hintze, Sir John Kemp-Welch, Sir Mark Moody-Stuart, S.W. Newton, H. Sohmen, S. Taylor and Sir Brian Williamson.

The list reads like a who?s who with a good number on the list having been decorated with various Queen?s honours, as well as each having a polished business pedigree, albeit from various corners of the globe. The visit by HSBC?s board members will no doubt underscore the diverse nature of the bank?s new parent. Although widely regarded as an Asian entity, given its ties with the Hong Kong Shanghai Banking Corporation, HSBC is UK-based and is actually that country?s largest banking entity.

But, perhaps surprisingly, North America accounts for the largest portion of the group?s business (33.9 percent compared to 29.8 percent in Europe), and with a stated focus on growing business in that region.

HSBC?s business in Hong Kong accounts for 25.2 percent of its book, while the rest of Asia accounts for a further 9.5 percent and 1.6 percent business from South America.

Also expected on the Island are D.J. Shaw, adviser to the HSBC board and R.G. Barber, group company secretary.

In total, HSBC has more than 8,000 offices in 80 countries around the world.

Two of those making the trip ? Mr. Green and Mr. Shaw ? have also been named to the Bank of Bermuda board since the sale. The only other addition to the Bank of Bermuda board in that time has been Bermuda-based reinsurance executive John Charman, a veteran of the Lloyds of London market.