After issuing ultimatums and deadlines to Korean authorities, and forgetting to submit a new application, HSBC finally gave up on Korean Exchange Bank (KEB). Lonestar was involved, the courts were involved, and eventually somebody from Lonestar, Paul Yoo, was found guilty. Here is how you clean up all of this mess when you […]
China and India have been growing at steady paces, but some have pointed to a possible bubble. Already, China has shown its weakness as pretax profit for HSBC in China fell 41% to $907 million. Meanwhile, shares in Korea Exchange Bank, HSBC’s newest target, have fallen as much as 12%. For now, HSBC remains devoted […]
HSBC should not be allowed to buy Korea Exchange Bank (KEB) until all legal investigations into the domestic lender are resolved, South Korea’s finance minister says. Kwon O-Kyu’s comments in Thursday’s Financial Times could signal a setback to hopes of sealing the 6.3 billion dollar deal quickly.
Kwon said South Korea’s watchdog the Financial Supervisory […]
Eric Knight, chairman of the New York-based fund manager Knight Vinke, will fly to London tonight to meet some of HSBC’s major institutional shareholders.
Last week, Mr Knight and a representative of the California Public Employees’ Retirement System (Calpers) wrote to Stephen Green, HSBC’s executive chairman, to call for a fundamental overhaul of the bank’s strategy. […]
The nation’s financial regulator reaffirmed Tuesday that it will not approve the sale of the Korea Exchange Bank (KEB) until a court rules as to whether the bank was sold at an unfairly low price to U.S. investment fund Lone Star. Asked whether the Financial Supervisory Service (FSS) will approve the sale, FSS Deputy […]
South Korean tax officials have again raided Lone Star’s offices in Seoul, seizing documents relating to the US private equity fund’s recent asset sales worth $2.3bn.
The raid, which comes in a week when the firm said it was in talks to sell Korea Exchange Bank (KEB) to HSBC for as much as $5.5bn, will […]
From the Columbus (Ohio) Dispatch of September 21: “HSBC lobbyist Van Doorn, who fought stricter state oversight three years ago, said, ‘There’s no question that the regulations could use some tightening.’ He said Ohio’s predatory-lending law was an important step, but, ‘We’re light years ahead of where we were’ when it passed in 2002. Shortly […]
SEOUL (Dow Jones)–U.K-based banking giant HSBC Holding Plc.(HBC) denied Thursday a local newspaper report that it may soon sign a memorandum of understanding to buy a controlling stake in Korea Exchange Bank (004940.SE), held by U.S.-based private equity investment company Lone Star Fund. The Korea Times reported Thursday, citing an unnamed executive at […]
HSBC was been beaten by Standard Chartered in a high-profile bid for Korea First Bank, as reported on January 13, 2005. Standard Chartered has confirmed that it will buy the South Korean bank for £1.8billion. StanChart snatched the bank from HSBC in a quickly convened deal over Christmas. HSBC now has Korea Exchange […]
Call somebody about this, anywhere in the world, for FREE
An open letter to HSBC, Knight Vinke and Stephen Green
We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.
We use your individual HSBC complaints and merchant complaint reports to perform trend analysis.
We are not associated with HSBC, Household International, or their merchants.
Some items are used by permission granted in the Fair Use guidelines of the 1976 U.S. Copyright Act.
