Hang Seng Bank is a cash cow for HSBC Bank, headquartered in London. Hang Seng Bank is also the only part of HSBC that does not carry the HSBC logo. “Hang Seng Bank generates so much cash and profit for HSBC that HSBC is afraid to mess with success that has roots dating back almost 3000 years” said one insider.
Archive for the Category »05 Worldwide «
Category: 05 All Articles, 05 Worldwide
Leave a Comment
Nov. 28 (Bloomberg) — HSBC Holdings Plc said Chief Executive Officer Stephen Green will become chairman, replacing John Bond. Green will take over as chairman when Bond, 64, retires in May after 45 years at the company, the London-based bank said in a statement today. Michael Geoghegan, head of the U.K. business, replaces Green as CEO. Dyfrig John will succeed Geoghegan.
Category: 05 All Articles, 05 Who's Who, 05 Worldwide
Leave a Comment
LONDON - Stephen Green, a preacher, lover of Russian literature and chief executive of HSBC (HSBA.L: Quote, Profile, Research), will next year step up to the biggest job in British banking as he crosses the corridor to the executive chairman’s office. Green, who has been HSBC’s CEO since June 2003, will step into the shoes of John Bond to take the helm of the world’s third biggest bank, which operates in 77 countries, has 250,000 employees and 110 million customers.
In a press release that shows HSBC learned well from Shea v Household and continuing questions about HSBC Finance Corporation credit card payments, we find that HSBC can still be “Hong Kong Shanghai” if they want to, but not in the United States:
Category: 05 All Articles, 05 Worldwide
Leave a Comment
BEIJING - HSBC Holdings Plc., Europe’s largest bank by market value, said it expects to issue one million dual-currency credit cards by July with partner Bank of Communications Ltd., outpacing rival Citigroup Inc. in the world’s fastest-growing consumer market. “We are on track to meet our target,” Ron Logan, head of the credit card venture, said. “The number of cards issued has been growing significantly.” HSBC, Citigroup and American Express Co. are banking on dual-currency cards to build brand awareness and customer bases in an economy with US$1.65 trillion household savings. China’s government wants 30 percent of retail sales to be made through bank and debit cards, within three years.
Category: 05 All Articles, 05 Regulators, 05 Worldwide
Leave a Comment
