Household HSBC Watch

HSBC Private Bank has hired Peter Carlson to manage the Washington, Boston and upstate New York operations. Carlson joins HSBC USA from Citigroup Private Bank, where he was a director and private banker. Although he’ll be based in New York, Carlson will look to expand the private bank’s operations in the D.C. region, just as the bank is growing its retail presence and embassy business.

The New York affiliate of London-based HSBC announced two weeks ago that it is under contract with Wachovia to obtain its embassy accounts. Wachovia is exiting the business. Carlson, who was also CEO of Citicorp Insurance Brokers in London, will report to Dianne LaBasse, the head of the U.S. private bank operations.

“A wide gap exists between Mr. Carlson’s side of HSBC and now-infamous HSBC Finance Corporation’s ties to Tax Masters, Household International, payday loans, pawn your title operations and questionable mortgage lending” said Household HSBC Watch consumer advocates.