The bank's $17 billion investment in growth businesses is not seen as a game changer; Synchrony working with retail partners to make credit decisions on the fly.
Fixing HSBC's troubled U.S. division will be one of the "most challenging" parts of the lender's new $17 billion strategy, Chief Executive Officer John Flint said.
Mary Kate Loftus spearheaded a $131-million digital initiative to improve the customer experience, deepen relationships and attract more of HSBC’s target consumer segments. She has been selected as one of our Digital Banker of the Year finalists for 2018.
Costs rose at the global bank, profit in North America fell 16%, and questions are mounting for new CEO John Flint ahead of the release of his strategic plan.
Overseas firms have been subject to nonpublic versions of the Federal Reserve reviews, but observers say some foreign banks may be tripped up by the public version.
HSBC Chief Executive Officer John Flint and Chairman Mark Tucker are considering shrinking the bank's global imprint even further as part of a plan set to be revealed over coming months, according to people with knowledge of the discussions.
HSBC agreed to pay $100 million to settle an antitrust lawsuit by over-the-counter investors, including the city of Baltimore and Yale University, who claimed they were harmed when they bought securities tied to rigged Libor.
