May 22, 2004 |
Shares of Washington Mutual Inc. rose 9% on Friday on speculation that the nation's largest savings and loan might be sold to HSBC Holdings, Britain's biggest bank. The conjecture mounted after Bill Aldinger, chief executive of HSBC North America Holdings Inc., this week told British newspapers that HSBC planned more U.S. acquisitions. A purchase of Seattle-based Washington Mutual would make HSBC about the same size as Citigroup Inc.
July 1, 2005 |
HSBC Holdings, Europe's biggest bank by market value, shut its three-man trading desk at the Chicago Board of Trade on Thursday, silencing the voice of its "squawk box" operator as electronic trading displaces face-to-face deals. "It's the way the market goes: It's downsizing," said Richard Johnson, who kept HSBC customers informed of prices in the Treasury futures pits with commentary piped directly to their desks. "Today's the last day for the squawk box, and I'll move on."
April 3, 2000
* HSBC Holdings, in the biggest cross-border takeover in European banking, agreed to buy Credit Commercial de France for $10.5 billion to boost business with wealthy investors and companies. The purchase of France's sixth-largest bank would give HSBC 1 million more clients and "makes us a serious player in the euro zone for the first time" said Sir John Bond, HSBC Chairman. London-based HSBC, which once functioned as the central bank of Hong Kong, is expanding in Europe and the U.S.
December 2, 2006 |
HSBC Holdings, a British banking powerhouse that makes consumer loans under the HFC and Beneficial brands in the U.S., is buying the $2.5-billion mortgage loan portfolio of Champion Mortgage for an undisclosed price. HSBC said in announcing the deal that the loan portfolio it was buying consisted of the mortgages of about 30,000 customers. Champion, based in Parsippany, N.J., is a unit of Cleveland-based KeyCorp. It serves mostly nonprime customers in 26 states.
May 31, 2003 |
HSBC Holdings met with shareholder criticism at its annual meeting in London over the pay of William Aldinger, head of its U.S. consumer finance business. Aldinger, chief executive of Household International Inc. when HSBC bought the company in March, got $20.3 million in severance for the termination of his contract. He will earn about $36 million in the next three years as head of all of HSBC's U.S. businesses. HSBC shares fell 21 cents to $59.27 on the NYSE. From Bloomberg News
January 3, 2004 |
Citigroup Inc. and HSBC Holdings, the world's two largest banks by market value, were the first foreign banks to receive approval to issue U.S. dollar credit cards to mainland Chinese residents. Citigroup's Citibank unit, with partner Shanghai Pudong Development Bank Co., won approval from the China Banking Regulatory Commission and China's central bank to offer China's first dollar and yuan dual-currency credit cards, Pudong Bank said. New York-based Citigroup bought a 4.