Household HSBC Watch

Independencia, a specialist lender to low income Mexican families with more than 1 million clients — read as Subprime — is on their own. HSBC Holdings Plc said on Thursday it is selling its entire 18.68 percent stake in Mexican consumer lender Financiera Independencia to JPMorgan for 1.568 billion pesos (USD$145 million). If […]

HSBC Securities Services is known to be Lehman’s trustee across multiple jurisdictions, said Asian Investor. “The current crisis will no doubt put its trustee function to its most strenuous test to date. After multiple calls to various business heads of the group, no one has been able to respond to AsianInvestor’s question on what […]

On August 18, 2008: “If you don’t have a sustainable environment to do business in, you’re not going to be profitable,” said Donna Funk, senior vice-president of community and philanthropic services for HSBC-North America, which had assets of $557 billion last year. “If you’re not profitable, that’s the end.” HSBC’s own fact sheet, […]

Our headlines screamed: “HSBC posts Boscov payment one day late” and “HSBC loses customer for Boscovs due to late payment processing” and “Boscovs and HSBC Forgets To Mail December Bill.” Now Boscov’s has filed for bankruptcy. The formula is simple: When a merchant signs a contract with HSBC for credit card […]

HSBC Finance Corporation’s card and retail services business has introduced a credit card that gives consumers the opportunity to use earned rewards to make a contribution to a variety of environmental causes. It does not take long to realize that 70 percent consumer dissatisfaction with HSBC credit cards (see our poll) indicates an overall […]

The Guardian is reporting that HSBC may exit part of their UK business involving HFC. Similarly HSBC is “optimizing” HFC and Beneficial Finance offices in the United States. About 1,200 jobs are on the line. HSBC put their consumer finance operations up for review and will possibly seek buyers for the branch-based […]

HSBC said on Wednesday it had agreed to sell its U.S. tax advisory services business to management. HSBC said it would receive $5 million in cash and deferred notes with a principal amount totaling $60.85 million. It will also have an option to buy 19.9 percent of the business, Wealth & Tax […]

Alex Hungate said: “I want to help HSBC grow by maintaining a relentless focus on the needs of its customers. In this role, with its combination of global leadership of the Personal Financial Services business plus the marketing function, I want to ensure that our services always deliver on the powerful promise of the HSBC […]

Here is an article that caught our eye, given the number of self-seve self-centered articles we already see about HSBC. Are you sick and tired of PR Newswire articles, half of which are actually self-serving advertising generated by HSBC North America and HSBC Finance Corporation?

LONDON, Aug 6 - HSBC Holdings said on […]

It is Saturday night in the United States but Sunday in England and Sunday papers have been printed. It’s also one day closer in London until the day HSBC releases new numbers. London is bracing itself for more bad news on bad debts from HSBC when it announces its half-year results tomorrow, amid […]