HSBC North America Holdings Inc. · Mettawa, IL United States
Company Description
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This link will open in a new window Atlas may hold the world on his shoulders, but this company holds most of the North American continent. HSBC North America Holdings, a subsidiary of giant British bank HSBC Holdings , was formed in 2004 to comprise all of HSBC's US and Canadian operations, including HSBC USA , HSBC Bank Canada , and HSBC Finance . HSBC North America's subsidiaries offer personal and commercial banking services, credit cards, private banking, insurance, and corporate investment banking. Faced with billions of dollars of writedowns of subprime mortgages and consumer loans, HSBC Finance exited those businesses in 2009 and shuttered its HFC and Beneficial loan offices. HSBC North America's other holdings fared comparatively better. To read the full description, subscribe now.
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Key HSBC North America Holdings Inc. Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | December |
| Employees | 330,000 |
HSBC North America Holdings Inc. Executives
34 executives listed for HSBC North America Holdings Inc.'s Mettawa, IL location.
| Title | Name & Bio | Contact |
| Chairman | John Thornton | Network |
| CEO and Director | Brendan McDonagh | Network |
| CFO | Edgar Ancona | Network |
Competition
Competitive Landscape for HSBC North America Holdings Inc.
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top HSBC North America Holdings Inc. Competitors
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