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Archive for » April, 2009 «

Regarding our article titled ‘Report of 400 HSBC layoffs in Chesapeake and how it went down’ we received this input:

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Calcutta, April 16: HSBC has overhauled its top-level management in India. Naina Lal Kidwai has been appointed chairman of HSBC Group in India. She was previously the group general manager and CEO.

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HSBC does not have Polaris credit card business as a sole source. Retail credit financing availability for Polaris consumers: more…

As HSBC exports their Household Model of failed lending to developing countries, HSBC India will go slow in the consumer credit business in 2009 following high level of “impairment” of assets last year, a top official said here Thursday. “We continue to do lending in the retail space,” Naina Lal Kidwai, who was appointed the country head of HSBC India Thursday, told reporters.

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This seems like news everyone in Seattle Washington is waiting for. HSBC said it’s planning expansion into the Seattle retail banking market. Good luck with that idea. Perhaps HSBC is counting on people to forgive and forget about the current financial crisis.

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