HSBC Finance announces management changes

Jul 29, 2010 (Datamonitor via COMTEX) -- HSBC Finance, a subsidiary of HSBC North America Holdings, has appointed Patrick Burke as CEO of US consumer finance division and Brian Hughes as executive vice president and head of card and retail services.

Mr Burke currently serves as senior executive vice president and CEO of card and retail services for HSBC Finance. He is responsible for the US operation of the HSBC credit card and retail business, as well as providing leadership and collaboration with parent HSBC Holdings in building a global cards business. He succeeds Niall Booker.

Mr Burke's prior positions include CFO with HFC Bank in the UK in 2000, and president and CEO of HSBC Financial Corporation Canada in 2003. He began his career at the company in 1989 as deputy director of mergers and acquisitions and vice president of strategy and development.

Mr Hughes has been with HSBC since 2004, most recently serving as executive vice president of marketing for card and retail services. Prior to HSBC, he was a principal with Booz Allen Hamilton.

Niall Booker, CEO-designate of HSBC North America Holdings, said: "Under Pat's leadership, the credit card business in the US has been consistently profitable. I am confident that Pat will continue the solid progress made in the last few years in the US as we effectively wind down our non-core businesses and concentrate on growing our core business of cards."

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