HSBC USA Inc. · New York, NY United States
Company Description
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This link will open in a new window HSBC USA, a subsidiary of British banking behemoth HSBC Holdings , operates HSBC Bank USA. With nearly 400 offices, the bank has one of the largest branch networks in New York State, plus about 90 additional locations in about 15 other states and Washington, DC; California, Florida, and New Jersey are its next largest markets. The bank offers personal, commercial, and mortgage banking services, with a loan portfolio dominated by residential mortgages, commercial loans, and credit card loans. HSBC Bank USA's personal financial services segment also provides mutual funds, investments, and insurance. The bank offers investment banking, private banking, brokerage, and trust services as well. To read the full description, subscribe now.
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Key HSBC USA Inc. Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | December |
| Annual Sales (mil.) | $7,252.0 |
| Employees | 12,000 |
HSBC USA Inc. Executives
30 executives listed for HSBC USA Inc.'s New York, NY location.
| Title | Name & Bio | Contact |
| Chairman | Michael Geoghegan | Network |
| President and CEO | Irene Dorner | Network |
| SEVP and COO | David Dew | Network |
Competition
Competitive Landscape for HSBC USA 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 USA Inc. Competitors
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