Pros
Working for a member company of the largest enterprise in the world has the advantage of diversity at all levels, if you are willing to put in the hours and overperform there are great opportunities to advance, locally or internationally. The bank prides itself in being a meritocracy where merit is the basis for promotion, although perhaps not perfect they do try.
Cons
A lot of red tape and a policy of salaries below the market average makes you think often that you'd be better off elsewhere. HSBC bought this bank less than 10 years ago and the culture is still mixed, so different people have very different opinion. There are still many old practices and inefficiencies that don't correspond to a global bank, so you have to navigate carefully.