Press Release

HSBC - North America Appoints Joseph W. Hoff Chief Executive Officer for Retail Services Business

Will Lead Company’s Private Label Credit Card Business

21 March 2005

PROSPECT HEIGHTS, Ill. -- March 21, 2005 -- HSBC - North America announced today the appointment of Joseph W. Hoff as chief executive officer of the company’s retail services business, effective today. In this position, Hoff will oversee the day- to-day operational and sales efforts in the company’s private label credit card business and will report directly to Sandy Derickson, vice chairman, HSBC - North America.

“Joe is an exceptional leader and manager with nearly thirty years of experience in our company,” said Sandy Derickson, vice chairman, HSBC - North America. “Joe has impeccable credentials, the industry experience and first-hand knowledge of the retail services business. He will be an invaluable resource as we grow the business.”

Hoff was named chief financial officer of the retail services business in 1996. Prior to that, he served in various financial positions including vice-president-finance for the treasury department, group director-administration, and president-corporate finance division. Hoff joined the company in 1976 as manager-financial accounting.

Joe earned his bachelor’s degree in accounting from Northern Illinois University in DeKalb, Illinois, and his master’s of business administration from Northwestern University in Evanston, Illinois. He is also a Certified Public Accountant and a member of the American Institute of Certified Public Accountants.

About HSBC - North America 
HSBC - North America comprises all of HSBC's U. S. and Canadian businesses, including the former Household businesses.  The company’s businesses serve more than 60 million customers in five key areas: personal financial services, consumer finance, commercial banking, private banking and corporate investment banking and markets.  Financial products and services are offered under the HSBC, HFC and Beneficial brands.  For more information, visit: www.hsbcusa.com.

 

 

Media Contacts

• Kathleen Morrison
• kathleen.a.morrison@us.hsbc.com
• Director, Group Public Affairs
• HSBC - North America
• (847) 564-6111