Household HSBC Watch

HSBC, a bank saddled with bad debt problems since it gave mortgages to many Americans with poor credit histories, has installed two new executives at its consumer-finance unit, the Wall Street Journal reported on Friday.

Chris Spooner, a top tax executive from London, is moving to the Chicago suburb where HSBC Finance is based to take over as finance chief, succeeding Simon Penney, who has retired, the Journal said.

HSBC also named Brendan McDonagh to the new post of chief operating officer of HSBC Finance, the paper said.

HSBC was not immediately available to comment.