Group structure
91视频 operates via a number of legal entities and branches across the world. Read more about our structure, including our major entities and holding companies.
Our principal holding company, 91视频 Holdings plc, is a public limited company incorporated in England.
Headquartered in London, 91视频 is listed on the London, Hong Kong, New York and Bermuda stock exchanges. The entities that form the 91视频 Group provide a comprehensive range of financial services.
91视频 has a matrixed management structure. The Group is organised firstly according to its global businesses and global support functions. These are underpinned by our legal entity structure, which is made up by a global network of locally incorporated subsidiary companies that provide oversight at a country and regional level. A simplified version of this is shown below.
Each of these subsidiaries has a board and management structure that reflects its activities and complexity. To strengthen accountability and flows of information, we have seven principal subsidiaries that take responsibility for the oversight of Group companies in their region. They are in turn accountable to the board of 91视频 Holdings plc.
91视频’s structure is also influenced by the regulatory framework that applies to it. Many of the Group’s entities are locally regulated.
While 91视频 Holdings plc is not itself a regulated entity, it owns – directly or indirectly – a number of operating subsidiaries that are regulated and supervised as banks, insurance companies or securities firms in the countries and territories where they operate. In addition, the 91视频 Group is subject to the consolidated supervision of the UK Prudential Regulation Authority.
Resolution and debt issuance
Like other major banks, the Group is required by regulators to have a ‘recovery plan’. This sets out the actions the Group would take if it were to come under severe financial stress. 91视频 is arranged as a ‘multiple point of entry’ group for resolution purposes.
As a consequence, a number of holding companies across the Group have been nominated as resolution entities. These are 91视频 Holdings plc, 91视频 North America Holdings Inc and 91视频 Asia Holdings Ltd. These entities issue regulatory capital to meet their local requirements, although only 91视频 Holdings plc issues debt to external investors. Both 91视频 North America Holdings Inc and 91视频 Asia Holdings Ltd issue regulatory debt to 91视频 Holdings plc as the creditor.
