Household HSBC Watch

No doubt HSBC is interested in buying Lehman Brothers. Remember the iPhone mis-information? While the Australian MIS officer said HSBC could replace Blackberrys with iPhones, London said the opposite. Regarding the Lehman deal the opposite strategy is perhaps true. No word from London, while the HSBC Asia chief executive officer speaks […]

ZDNet Australia, which covers business technology news, reported that HSBC was considering ditching the BlackBerry and switching 200,000 employees to the iPhone. We did not report it because it was not important, other than spending shareholder money for 200,000 of the darned things. However, the original article looked professional, quoting HSBC’s Australia and […]

Carrick MollenKamp of the Wall Street Journal follows HSBC closely. His recent article “HSBC a canary in US mortgage mine” appeared on 12 November. It is interesting to note that HSBC helped to start the entire worldwide credit crisis. “…HSBC said souring sub-prime-mortgage loans had forced the bank to add nearly $US2 […]

HSBC and Vodafone have pulled advertising from social network site Facebook over concerns that their ads were appearing next to a far-right British political party’s content. Mobile phone giant Vodafone and HSBC’s online banking arm First Direct suspended their Facebook ads, fearing their brands would be sullied if linked to the British National Party […]

HSBC Australia chief executive Stuart Davis said HSBC likes his credit cards. A year ago the bank introduced a credit card system developed by the group’s US finance company subsidiary Household International (now called HSBC Finance Corporation).

Davis said it had made a big difference to the business. “It has given us a lot […]

Proof that more bankers wish to distance themselves from HSBC, HSBC Finance Corporation, and allegations of predatory lending is apparent. As fewer banking professionals wish to associated with HSBC and sub-prime loans competitors hired HSBC top brass.

JP Morgan hired George Foussianes, who was head of Americas global banking for HSBC and oversaw investment banking, […]

HSBC Group’s Australia account holders are outraged that the bank didn’t bother to contact a single customer in the wake of a serious security breach new which exposed banking details, names and home addresses, as well as other financial information.

Customers labelled the bank’s handling of the breach a “disgrace” accusing HSBC of favoring commercial interests […]

The Australian unit of HSBC Holdings (0005) will sell its broker-originated mortgage portfolio valued at US$1.75 billion (HK$13.65 billion) to FirstMac, a leading Australian residential mortgage provider.
The portfolio consists of 10,000 customer accounts distributed through brokers in Australia.

HSBC Bank Australia will retain the majority of its non-broker originated mortgage portfolio, valued at US$5.8 billion. […]

Sep 21, 2006 — Less than a year after launching its Australian in-store finance business, HSBC Holdings has won a major contract. UK-based HSBC has unseated US rival GE Money from its seat as the sole consumer financing provider for the National Associated Retail Traders of Australia. The contract will give HSBC a monopoly […]

Will HSBC buy Charles Schwab? Former HSBC Chairman William F. Aldinger is on the board of directors at Charles Schwab. As former CEO of predatory lender Household International Aldinger moved to HSBC when HSBC bought Household in 2002. Some analysts think HSBC has an insider at Schwab with Aldinger. Logically none […]