HSBC can’t leave HFC and Beneficial Finance offices empty, so what will HSBC do? If a trial period in England is any example, HSBC will put mortgage brokers in the offices. It is only a theory at this time. HSBC must run off the old business, fire all employees, and put a facelift on all offices.
One problem faces the makeover theory. Americans blame mortgage brokers for the current financial crisis. A second problem is brand recognition. When HSBC puts new signs on old offices people will reach for Google and other search engines.
What will these Googlers actually see? Thousands of pages of bad things. If it looks British, acts, British, and calls itself HSBC, will Americans show surprise when HSBC is Hong Kong Shanghai Bank Corp? Will Americans remember Household International and predatory lending?
We’ve seen banking at our local grocery store, and perhaps that is a good fit. In the UK HSBC is trying mortgage brokers in bank branches. Will stand-alone stores work in the United States? Doesn’t Wells Fargo do that now?
In a way it is rather interesting to consider the possibility. Mortgage brokers with solid licenses and prime products!
In the UK HSBC announced that it would be introducing John Charcol advisers into 20 of its branches as part of a seven-month pilot scheme. The announcement was made in early April 2009.
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