HSBC is pioneering an offshore legal function to service its UK volume legal queries, in a move that threatens to make corporate counsel the latest back-office commodity to be relocated to Asia. Now not only can customer service calls be answered in India, Malaysia or the Philippines, but legal queries might be off-shored. Security is the main concern of many. The move followed HSBC’s ‘offshoring’ of other back-office functions such as human resources. If the project works in the UK it will certainly follow on the the United States. The current project is training a team of four lawyers in its global service center in Malaysia’s capital, Kuala Lumpur, and has said that it may open up the facility to the bank’s legal functions in other jurisdictions. They are training the team in UK law.
When legal professionals, if you can use that term, are training by the entity employing them it is the training which comes under scrutiny. This is not a college for law and legal professionals. Training implies that graduates know what HSBC wants them to know. Unwilling to question anything other than what they are taught, and outside the licensing and regulatory reach of the UK, these positions will certainly save HSBC some money in the near-term. If the idea is to provide another layer of clouded confusion and deniability for HSBC Finance (HFC and Beneficial) then offshoring of legal staff certainly would benefit HSBC. To do so as a cost saving measure while touting itself as a world wide bank does not instill confidence in those with money and investments.
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