Diversified Financial Services
Company Overview of HSBC North America Holdings Inc.
HSBC North America Holdings Inc. is a holding company, which through its subsidiaries offers financial services in the United States and Canada. It provides personal finance, consumer finance, retail banking, wealth management, commercial banking, private banking, global banking, corporate investment banking, mortgage, insurance, and trust services. The company was incorporated in 1980 and is based in New York, New York. HSBC North America Holdings Inc. operates as a subsidiary of HSBC Overseas Holdings (UK) Limited.
452 5th Avenue
New York, NY 10018
Founded in 1980
Key Executives for HSBC North America Holdings Inc.
Chief Executive Officer, President, and Director
Senior Executive Vice President and Chief Financial Officer
Group Chief Executive Officer of The HSBC Group
Chief Executive of Hsbc Bank Plc
Senior Executive Vice President and General Counsel
Compensation as of Fiscal Year 2015.
HSBC North America Holdings Inc. Key Developments
Federal Reserve Board Announces $131 Million Penalty Against HSBC North America Holdings, Inc. and HSBC Finance Corporation
Feb 6 16
The Federal Reserve Board announced a $131 million penalty against HSBC North America Holdings Inc. and HSBC Finance Corporation for deficiencies in residential mortgage loan servicing and foreclosure processing. The penalty is being assessed in conjunction with an agreement involving similar deficiencies that HSBC announced February 5, 2016, with the U.S. Department of Justice, other federal agencies, and the state attorneys general. The penalty assessed by the board is the maximum amount allowed under the law, taking into account the circumstances of HSBC's unsafe and unsound practices and foreclosure activities. The penalty may be satisfied by providing borrower assistance or remediation in conjunction with the Department of Justice settlement, or by providing funding for nonprofit housing counseling organizations. If HSBC does not satisfy the full penalty amount within two years, the remaining amount must be paid to the U.S. Department of Treasury. The Board will closely monitor compliance by HSBC with the requirements of the order. The terms of the monetary assessment against HSBC are similar to those that were part of the penalties issued by the Board in February 2012 and July 2014 against six other mortgage servicing organizations that reached similar agreements with the U.S. Department of Justice and the state attorneys general.
HSBC North America Holdings Announces Board Changes
Nov 13 15
Rona Fairhead will hand over her responsibilities as Chair of HSBC North America Holdings to Heidi Miller at the end of 2015.
HSBC North America Holdings Inc., HSBC USA Inc. and HSBC Bank USA, N.A. Announces Executive Changes, Effective June 30, 2014
Jun 16 14
Patrick (Pat) Burke (52) has been appointed Executive Director of HSBC North America Holdings Inc., HSBC USA Inc. and HSBC Bank USA, N.A. with effect from 30 June 2014. Burke succeeds Irene Dorner (59), who will retire after a distinguished 32-year career at HSBC. Burke was appointed Chief Executive of HSBC Finance Corporation in 2010, assuming responsibility for winding down the legacy Household consumer finance business. Rhydian Cox (53) has been appointed xecutive Director of HSBC North America Holdings Inc., HSBC USA Inc., HSBC Bank USA, N. A with effect from 30 June 2014. Cox will report to the Chief Executive of HSBC US and to Marc Moses, Executive Director and Group Chief Risk Officer. Cox will chair a new US Remediation Committee which will drive the regulatory remediation of high-risk items, including significant control items. Cox was appointed Chief Risk Officer, Asia-Pacific in 2008. He joined the Group in 1984 and was appointed a Group General Manager in 2013.
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