News Release

HSBC Finance Corp. Announces Board of Directors Appointment

29 May 2007

Prospect Heights, Ill.-HSBC Finance Corporation announced today that it has appointed Louis Hernandez, Jr. to its board of directors.

Hernandez currently serves as chairman and chief executive officer of the Glastonbury, Conn.-based Open Solutions Inc. - a leading provider of integrated data processing technologies for financial institutions worldwide. Under his leadership, Open Solutions has become one of the financial industry’s fastest growing companies with over 5,000 clients worldwide, 2,000 employees and 2006 revenue of approximately $395 million. Hernandez joined Open Solutions in 1999 as chief executive officer and became chairman in 2000. 

Prior to Open Solutions, he was chief financial officer for RoweCom, an electronic commerce software vendor to financial services, healthcare and academic markets. Additionally, he was chief financial officer and corporate secretary for U.S Medical Instruments Inc., a medical devices company, and held various positions within the Business and Advisory Group of Price Waterhouse LLP.

“Louis has an impressive track record in delivering technological solutions for financial institutions,” says Brendan McDonagh, chief executive officer of HSBC Finance Corporation. “His energy and drive associated with a dynamic and competitive business background will be a tremendous addition to our board.”

Hernandez is a recognized information technology executive who currently serves on the boards of Open Solutions Inc. and Mobius Management Systems, Inc. as well as several non-profitorganizations such as the Connecticut Center for Science & Exploration and the Connecticut Children’s Medical Center.  He has also been appointed by the governor of Connecticut to be vice chair of the Governor’s Council on Economic Competitiveness and Technology and is the past chairman of the Connecticut Technology Council.

Hernandezobtained his bachelor’s degree and MBA from San Diego State University. He has had several articles published by leading trade journals and speaks regularly on the topics of technology, economics, strategic planning and globalization.

 

Media Contacts

• Diane Bergan
• Diane.Soucy.Bergan@us.hsbc.com
• HSBC - North America
• 847-564-6761