WK in Illinois said “I have followed HSBC/Household Watch for some time and I spent 10 years there as an employee before I was “retired” in 2006. It is interesting to read accounts about how HSBC deemed the purchase of Household International a bad decision. It’s nice of them to finally admit it.
Mark McCombe, the chief executive of HSBC Hong Kong and regarded as a potential successor to Stuart Gulliver, group chief executive, is leaving the bank to head BlackRock Asset Management’s Asia business.
Orchard Bank , Household Bank, and HSBC credit card customers will soon be sending payments to Capital One, if a recently-announced multi-billion dollar deal is completed.
It looks like earlier estimates of 10,000 job cuts at HSBC was not correct. Try 30,000 jobs lost at HSBC.
HSBC said it will also sell, shut or slim down retail operations in 39 markets, where operations are sub-scale and unprofitable and is looking to sell its U.S. credit card arm and shrink its network of 475 U.S. branches.
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