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HSBC Risk Officer Unemployed, Was With OCC

A promotion in February and dismissed by July is sad news for David Gibbons of HSBC. One must ask if Gibbons was hired for his connections with the OCC, a bank regulator, or his ability. One thing is for sure - Gibbons did not see the risk at HSBC Finance, formerly known as […]

Saks Insiders Dump Stock, Troubles Analysts

November 23, 2005 — Eight senior executives of embattled retailer Saks Inc., including the chief executive and two directors, have dumped more than $37 million of the company’s stock in recent days, according to regulatory filings. The insider sales by a broad swath of Saks’ management team, coming days after the company reported […]

Metris Companies Inc. HSBC Merger Update

Merger Update
On August 4, 2005, Metris Companies Inc. announced a definitive agreement for HSBC Finance Corporation to acquire Metris in an all-cash transaction. Metris will become a wholly owned subsidiary of HSBC Finance Corporation upon completion of the transaction. The acquisition is subject to certain conditions, including resolution of the potential civil injunctive action […]