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As part of a corporate-wide change initiative initiated in 1998, HSBC aimed to double shareholder value in the five-year period, 1999-2003. A key strand of the change programme was to migrate back-office operations in Hong Kong to a data processing centre in Guangzhou, Mainland China. The case traces the company''s progress and experience in implementing this strategic initiative, and the impact of change in both affected hubs: Hong Kong and China. The case highlights the range of hurdles faced by organisations, particularly multinationals, in implementing commercially viable decisions that satisfy all stakeholders in the organisation. HSBC had faced difficult challenges co-ordinating operations internally, as well as harsh criticism from its own employees and customers in Hong Kong. Students are challenged to consider how the bank could have realised a smoother second transition and stem the backlash that this or future changes could elicit.