Household HSBC Watch

With smoke an mirrors the magic trick of HSBC and global profits seems real. Despite warnings that the momentum of growth in emerging markets is slowing down, Michael Geoghegan, CEO of HSBC Worldwide, is still betting on India as a high growth story. We need to know Geoghegan’s position on exportation of the […]

There is a vast difference between true global bankers who once had branches aboard the luxurious Cunard Lines, and the finance company logic of embarassed former predatory lenders. I am old enough to remember true bankers in England, the Cunard Steamship Lines, and such professionalism. I am also old enough to remember when […]

HSBC is looking to increase its presence in Russia by pumping $200 million into its operation in the country and appointing a new Russia CEO, the bank announced Wednesday. The plans at HSBC, which calls itself “the world’s local bank,” will see the global brand plunge into retail banking and open up branches in […]

Orlando, Fla.-based CNL Financial Group has purchased Two Harbour Place, a 12-story office tower in Tampa, for $32.25 million from HSBC, a global banking company. Jeff Morris, Jubeen Vaghefi, Steve Echelson and Doug Bartley of Jones Lang LaSalle brokered the transaction.

About the same time as this news release was made public a different news […]

A large Califronia pension fund has put more pressure on HSBC, setting a deadline for change. Christy Wood, Calpers’ head of global equities, told The Sunday Times it wants HSBC to reveal detailed plans to refocus the group, address share-price underperformance and set a series of testing financial targets. “We want to see […]

Here is an article we expected so see about two months ago. It is also published on Mortgage Blues. Insiders at HSBC say we should look for more changes and cutbacks from HSBC in the United States as the bank’s image has been tarnished by predatory lender Household International, and as more people […]

Global banking giant HSBC said Tuesday that it has sold some of its British credit card businesses to lender SAV Credit for about 385 million pounds (552 million euros, 796 million dollars). HSBC said in a statement that the units being sold are the Marbles and Beneficial divisions, which have about 338,000 accounts between […]

Paul Hand, global banking co-head at HSBC Holdings Plc, will leave after 21 years with Europe’s biggest bank, following a flurry of senior departures in Asia and Europe, an internal memo given to Bloomberg News showed. Hand will leave at the end of the year to pursue interests outside banking, according to the […]

Knight Vinke, the high-profile shareholder activist group, has told HSBC that it “has an issue with its strategy” and has held talks with the global banking group’s finance director about a complete review of the bank’s direction. The activist shareholder, which has secured the support of Calpers, the Californian state pension fund, is […]

HSBC plans to refocus on emerging markets as the bank’s experiment with Household International taught them to play elsewhere. The problem with emerging markets is that they are emerging. Take the case of China’s equivalent of the US Food and Drug Administration chief. Within three weeks the man was charged with fraud, […]