Bermuda is not just a tropical playground, vertex of a notorious triangle, and offshore tax haven. It's also home to HSBC Bank Bermuda (formerly Bank of Bermuda), which provides banking, trust, and asset management services to individuals, corporations, and institutional investors worldwide. The company also serves as a traditional bank for Bermuda residents and small businesses through six branches. In 2011 the bank divested its insurance management operations, which served the numerous insurance companies domiciled in Bermuda. Founded in 1889, the former Bank of Bermuda was bought by British banking giant HSBC in 2004.