Household HSBC Watch

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 […]

HSBC’s Guyerzeller unit will lose its name and will be known as HSBC Private Bank (Suisse) SA, which is already the name of a second unit. The two units currently employ 2,000 people and have assets under management of CHF 190 billion. When HSBC contemplated buying UBS and others, somebody probably pointed out that […]

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, […]

In a news article from late last week titled “Business big shot: Michael Geoghegan” we see the power of algorithms and content matching. Although I do not know what the article was really trying to prove, the Times Online also suggests other relative articles. One related article is titled “HSBC profit falls […]

Peter Grodon in Panama said: “About 2 years ago, because I had complained on various Yahoo internet chat groups, HSBC USA and HSBC Panama sued me for $5 million, and seized my assets and those of a charitable Foundation I had donated significant assets to. The story has just appeared over the past 4 […]

The activist shareholder group Knight Vinke today accelerated its attack on the management of HSBC with a fresh call to “grasp the nettle” and tear up its existing strategy. Clearly HSBC’s strategy in the United States is not working. Junk mortgages is Wall Street’s fancy name for junk home loans. There are so […]

The Cerberus private equity group recently bought Chrysler. Cerberus already owned 51 percent of GMAC. Chrysler Financial is the only part of Chrysler that makes money. The handwriting is on the wall for Cerberus to strip and flip Chrysler, keeping the profitable finance portion. HSBC Finance Corporation may look attractive to […]

As recently as one year ago HSBC refused to provide regulators with international banking information. Sources close to many investigations knew or suspected HSBC was aiding terrorism, money laundering, and other related issues. Taking lessons from predatory lender Household International, now owned by HSBC, the bank simply refused to answer questions. […]

HSBC Finance Corporation, a wholly-owned subsidiary of HSBC North America Holdings Inc., said Tuesday it has reached agreement with the shareholders of Solstice Capital Group Inc. to acquire 100% of the privately held US-based mortgage lender.

The transaction is subject to regulatory approval.
Solstice Capital Group, based in Irvine, CA, had gross assets of USD […]

In a move that once again gives predatory lender Household International access to more mortage business, HSBC (presumably the reputable side) has a deal with Fannie Mae. At a time when HSBC is still under indictment for racketeering, in part due to H&R Block and HSBC Finance Corporation, experts say HSBC’s lobbying efforts […]