October 01, 2016 7:05 AM ET

Diversified Financial Services

Company Overview of HSBC North America Holdings Inc.

Company Overview

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

United States

Founded in 1980

Phone:

224-544-2000

Fax:

224-552-4400

Key Executives for HSBC North America Holdings Inc.

Chief Executive Officer, President, and Director
Age: 54
Senior Executive Vice President and Chief Financial Officer
Age: 51
Group Chief Executive Officer of The HSBC Group
Age: 57
Chief Executive of Hsbc Bank Plc
Age: 58
Senior Executive Vice President and General Counsel
Age: 57
Compensation as of Fiscal Year 2016.

HSBC North America Holdings Inc. Key Developments

Federal Reserve Board Announces $131 Million Penalty Against HSBC North America Holdings, Inc. and HSBC Finance Corporation

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

Rona Fairhead will hand over her responsibilities as Chair of HSBC North America Holdings to Heidi Miller at the end of 2015.

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Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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