Bloomberg - Mar 01, 2010HSBC Holdings plc (HSBA)
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Simon Maughan
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MF Global SecuritiesThe bank plans to trade its shares in Shanghai and moved Chief Executive Officer Michael Geoghegan to Hong Kong from London last month to sharpen its focus on Asia.
HSBC halted consumer finance loans in the U.S after racking up provisions of at least $70 billion in the past four years following its acquisition of U.S subprime lender Household International Inc. "There were a lot of people who were pushing the stock up as a top stock for this year," said Simon Maughan, London based analyst at MF Global Securities Ltd., who has a "neutral" recommendation on the bank. "The environment isn't there to develop these earnings." Bonus to Charity
HSBC fell 2.93 percent to 698.5 pence as of 8:47 a.m in London, the biggest decline in the FTSE 350 Index of five U.K. banks. Geoghegan plans to give as much as 4 million pounds ($6.1 million) of his bonus to children's charities, according to a separate e mailed statement
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The bank plans to trade its shares in Shanghai and moved Chief Executive Officer Michael Geoghegan to Hong Kong from London last month to sharpen its focus on Asia.<span class="sent"> <span class="company">HSBC</span> halted consumer finance loans in the U.S after racking up provisions of at least $70 billion in the past four years following its acquisition of U.S subprime lender Household International Inc. "There were a lot of people who were pushing the stock up as a top stock for this year," said <span class="analyst">Simon Maughan</span>, London based analyst at MF Global Securities Ltd., who has a "neutral" recommendation on the bank.</span> "The environment isn't there to develop these earnings." Bonus to Charity <span class="company">HSBC</span> fell 2.93 percent to 698.5 pence as of 8:47 a.m in London, the biggest decline in the FTSE 350 Index of five U.K. banks. Geoghegan plans to give as much as 4 million pounds ($6.1 million) of his bonus to children's charities, according to a separate e mailed statement....The bank plans to trade its shares in Shanghai and moved Chief Executive Officer Michael Geoghegan to Hong Kong from London last month to sharpen its focus on Asia.<span class="sent"> <span class="company">HSBC</span> halted consumer finance loans in the U.S after racking up provisions of at least $70 billion in the past four years following its acquisition of U.S subprime lender Household International Inc. "There were a lot of people who were pushing the stock up as a top stock for this year," said <span class="
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