Blue Chip HSBC Fails With Household Customer Service
“HSBC is one of the bluest of the blue chips, it’s got a good global franchise and its multiples are inexpensive,'’ said Leslie Phang, who helps oversee $1 billion at Commonwealth Private Bank in Singapore. While that assessment may apply in most countries it may not apply in the United states. Poor name recognition, combined with a growing association with high interest rates and poor customer service are fast becoming the norm for HSBC in the U.S.
When we think of Citi or GE one thinks in terms of a big corporation. We do not necessarily think of a blue blood blue chip operation. When one thinks of HSBC in the United States, and emphatically after a Google search, one thinks of HSBC Finance Corporation, which is sullied predatory lender Household International with a new name. You can see new complaints every day. Many people suspect HSBC does not know how to clean up the operation. Others say they don’t want to. Either way, HSBC will not earn a ‘Blue Chip’ reputation in the United States as long as they own a finance company that is out of control.
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[…] Blue Chip HSBC Fails With Household Customer Service “HSBC is one of the bluest of the blue chips, it’s got a good global franchise and its multiples are inexpensive,’’ said Leslie Phang, who helps oversee $1 billion at Commonwealth Private Bank in Singapore. While that assessment may apply in most countries it may not apply in the U… […]
[…] Blue Chip HSBC Fails With Household Customer Service “HSBC is one of the bluest of the blue chips, it’s got a good global franchise and its multiples are inexpensive,’’ said Leslie Phang, who helps oversee $1 billion at Commonwealth Private Bank in Singapore. While that assessment may apply in most countries it may not apply in the U… […]
[…] Blue Chip HSBC Fails With Household Customer Service “HSBC is one of the bluest of the blue chips, it’s got a good global franchise and its multiples are inexpensive,’’ said Leslie Phang, who helps oversee $1 billion at Commonwealth Private Bank in Singapore. While that assessment may apply in most countries it may not apply in the U… […]