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Posts Tagged ‘ customer ’

13 August
Posted in 2007 HSBC
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AN open letter to HSBC’s Alex Hungate

Alex Hungate said: “I want to help HSBC grow by maintaining a relentless focus on the needs of its customers. In this role, with its combination of global leadership of the Personal Financial Services business plus the marketing function, I want to ensure that our services always deliver on the [...]

9 August
Posted in 2007 HSBC
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Credit card asset backed securities examined

Recent problems in the subprime sector spread around the world very quickly. Then the problems spread to Alt-A mortgages. Cash strapped borrowers with second mortgages and adjustable rate mortgages caught the attention of the world. By the morning of August 9, 2007, something else caught the attention of investors around [...]

7 August
Posted in 2007 HSBC

Cerberus Could Strip and Flip Chrysler and HSBC Finance Corporation

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 [...]

6 August
Posted in 2007 HSBC
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Reuters Alex Hungate Moves to HSBC

Here is an article that caught our eye, given the number of self-seve self-centered articles we already see about HSBC. Are you sick and tired of PR Newswire articles, half of which are actually self-serving advertising generated by HSBC North America and HSBC Finance Corporation? LONDON, Aug 6 – HSBC [...]

2 August
Posted in 2007 HSBC
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HSBC Involved With Accredited Home Lenders

HSBC bought subprime loans from troubled lender Accredited Home Lenders, but stopped buying subprime loans in April 2007. (sidenote: Bobby Mehta stepped down as chief executive of HSBC Finance Corp. and as head of HSBC North America on February 15, 2007.) Mortgage originators like Accredited Home Lenders usually sell their [...]

HSBC USA Fail

HSBC is cutting back in the U.S. after its 2003 purchase of Household International Inc. required it to set aside more than $65 billion for bad loans

Update Note

HSBC car loans were sold to Santander USA in 2010 :: Most HSBC credit cards became Capital One credit cards in 2012 :: HSBC horrible predatory home mortgages are in run-off