4.0
Oct 15, 2009
Former employee
Birmingham, AL
Recommend
CEO approval
Business Outlook
Pros
HSBC was a great place to work with many dedicated people until they closed their Auto Finance Division in August of 2008. Salary's were fair and you were given opportunity to advance if you were interested in relocating. The company encouraged community involment, sharing best practices, and developing new ideas.
Cons
Being a London based bank it was decided to move the capital to emerging markets in order to increase returns. After the sub prime crises, the returns in emerging markets were worse than if they had decided to stay in the Auto Finance business in the US. Many good people lost their job. I recieved an email explaining the Auto division was closed. The severence package was poor for the sales department.