Household HSBC Watch

HSBC Holdings’ head of personal financial services in the Asia Pacific region, Nick Sibley, has resigned due to company politics, the South China Morning Post said on Thursday, quoting a source. Sibley is the fourth senior executive HSBC has lost in three months, following the departures of Michael Smith, Blair Pickerell, and Steven Wallace, the newspaper said.

In the United States HSBC executives are not doing well either, especially at the top. It seems HSBC Finance and HSBC USA executives have been terminated or otherwise are simply “no longer with the company”. Other executives have been hired by HSBC’s competitors. Some say smart executives are trying to become disassociated with HSBC’s Household International subprime lending should anything more severe come of it.