21st Feb 2008 14:00
HSBC Holdings PLC21 February 2008 INTERNATIONAL HSBC BANKERS TAKE HELM AT HSBC NORTH AMERICA AND IN CONSUMER FINANCE DIVISION Brendan McDonagh has been appointed Chief Executive Officer of HSBC NorthAmerica Holdings Inc., leading HSBC's banking and consumer finance businesses inthe USA and Canada. Niall Booker succeeds Brendan as Chief Executive Officer ofHSBC Finance Corporation, and as Chief Operating Officer of HSBC North America. Brendan, age 49, a Group General Manager with 28 years' international bankingexperience at HSBC, across Asia, Europe, the Middle East and North America, alsobecomes a Group Managing Director of HSBC Holdings plc and joins the GroupManagement Board. He became Chief Executive Officer of HSBC Finance Corporation in February 2007,directing the Group's consumer finance businesses in the United States andworking closely with Group Chief Executive, Michael Geoghegan, on the work outof the mortgage portfolio following the credit deterioration led by weakness inthe US housing market. From 2004-2006, Brendan was Chief Operating Officer ofHSBC Bank USA, NA, overseeing the significant expansion of the bank's brand, theUS retail and commercial network, and the launch of the bank's online savingsproduct, a model now successfully used by HSBC in Taiwan, Korea and Canada. Niall Booker becomes Chief Executive Officer of HSBC Finance Corporation. Hewill also succeed Brendan as Chief Operating Officer of HSBC North America. Overa 27-year international career at HSBC, Niall, a Group General Manager, hasserved three terms in the US. He returned there in March 2007 as Chief OperatingOfficer of the consumer finance business to direct key business lines, as wellas corporate operational and risk management functions. Niall, age 49, was previously Deputy Chairman and Chief Executive Officer ofHSBC Middle East in 2006, and Chief Executive Officer, India in 2002. He joinedHSBC in 1981, and has extensive international experience, including retailbanking in Brunei and the UK, specialised finance in Hong Kong and bankingoperations in Abu Dhabi and Trade Finance and corporate banking in Japan. Commenting on the appointments, Michael Geoghegan, HSBC Group Chief Executive,said: "It's testament to the bench strength at HSBC that last year we were ableto send such internationally experienced bankers into our US consumer financebusiness. In common with most of the industry we face big challenges in NorthAmerica and Brendan and Niall are leading our work out with the thoroughness andtechnical expertise you would expect of HSBC." Completing the North American leadership team are current senior executives:Paul Lawrence, Chief Executive Officer of HSBC Bank USA, NA and Head of GlobalBanking and Markets, North America; and Lindsay Gordon, Chief Executive Officerof HSBC Bank Canada. Brendan McDonagh, Chief Executive Officer of HSBC North America Holdings Inc.,added: "It is a privilege to be asked to run HSBC's North American region. Ilook forward to working alongside my colleagues in the US and Canada to furtherprogress and properly position HSBC North America as a strong contributor to theHSBC Group." Notes to editors 1. HSBC - North AmericaHSBC - North America comprises all of HSBC's U.S. and Canadian businesses. Thebusinesses serve nearly 60 million customers in five key areas: personalfinancial services, consumer finance, commercial banking, private banking andcorporate investment banking and markets. Financial products and services areoffered under the HSBC, HFC and Beneficial brands. For more information, visitwww.hsbcusa.com. 2. HSBC Holdings plcHSBC Holdings plc serves over 125 million customers worldwide through around10,000 offices in 83 countries and territories in Europe, the Asia-Pacificregion, the Americas, the Middle East and Africa. With assets of some US$2,150billion at 30 June 2007, HSBC is one of the world's largest banking andfinancial services organisations. HSBC is marketed worldwide as 'the world'slocal bank'. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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