Buffalo was the headquarters of Marine Midland Bank — now HSBC Bank USA — for about 150 years before HSBC moved the legal headquarters, first to Delaware and now to northern Virginia. It still employs 6,000 in Buffalo, where it maintains substantial banking, support and back-office operations, but its holding company, HSBC USA, is based in New York City.
Tag-Archive for » HSBC Finance «
2006 – 2008 — William F. Aldinger, 61, retired as President, Chief Executive Officer and Chairman of the Board of Directors of Capmark Financial Group Inc., a commercial real estate finance company, in December 2008, positions he had held since June 2006.
Category: Afterthoughts, General News
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Does this seem strange to you, or is it another case of regulators sleeping at their desks?
From February 2005: more…
Category: Stop Abuse 2009
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It’s been a while since my last conversation with Carrick Mollenkamp of the Wall Street Journal. We were busy watching HSBC Finance for evidence of the old Household International. Carrick wrote an article on November 18, detailing subprime’s effect on HSBC Finance. It is interesting to discover that HSBC is still re-aging loans. While the practice once resulted in a cease and desist order from the SEC, apparently it is legal as long as the practice is disclosed and the amount of such loans is accurately and correctly disclosed. Re-aging, or putting more debt on the back end of the loan and pretending that the loan is current is no way to solve a problem.
Category: Subprime
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Net operating income for the nine months to 30 September 2008 was MXN1,638 million, down MXN1,294 million compared to the same period of 2007. It is interesting to note that insurance and upselling are as common in Mexico as it is in the U.S.. HSBC Mexico S.A. is Grupo Financiero HSBC , S.A. de C.V.’s (HSBC) primary subsidiary company and is subject to supervision by the Mexican Banking and Securities Commission.
Category: Emerging Markets
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