December 22, 2014 11:31 AM ET

Capital Markets

Company Overview of HSBC Securities (USA) Inc.

Company Overview

HSBC Securities (USA) Inc. is an investment banking firm that provides financial advisory services. The firm’s services include mergers and acquisitions, capital raising, privatization, and strategic advice. It was formerly known as Carroll McEntee & McGinley and changed its name in 1983. The firm is based in New York City. HSBC Securities (USA) Inc. operates as a subsidiary of HSBC Investments (North America) Inc.

HSBC Tower

452 Fifth Avenue

New York, NY 10018

United States

Phone:

212-525-3831

Fax:

212-525-0355

Key Executives for HSBC Securities (USA) Inc.

Managing Director and Co-Head of Capital Securities
Chief Executive Officer of Global Banking and Markets - Americas
Age: 48
Managing Director and Head of Real Estate Securitization
Senior Vice President and Head of ABS Product Management
Managing Director and Head of ABS Analytics and Structuring
Compensation as of Fiscal Year 2014.

HSBC Securities (USA) Inc. Key Developments

Virginia Files Lawsuit against Barclays Capital Inc., Citigroup Global Markets Inc., Countrywide Securities Corp., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman, Sachs & Co., RBS Securities, Inc., HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC, UBS Securities LLC, WAMU Capital Corp., J.P. Morgan Securities LLC, and Merrill Lynch, Pierce, Fenner & Smith Inc

Virginia has filed a lawsuit seeking $1.15 billion in damages against 13 banks accused of misleading the Virginia Retirement System. The case stems from the sale of residential mortgage-backed securities to VRS from 2004 to 2010. The retirement system was forced to sell most of the securities, taking a loss of $383 million. The VRS was entitled to accurate information about the underlying mortgages when making decisions on how to invest taxpayer money and contributions by employees. Instead, these large banks purposefully included high-risk mortgages in securities and fraudulently misrepresented the quality of those loans to rating agencies and large investors like VRS. The case is the financial fraud action brought by the commonwealth and is the case ever brought under the Virginia Fraud Against Taxpayers Act. The banks named in the suit are: Barclays Capital Inc., Citigroup Global Markets Inc., Countrywide Securities Corp., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman, Sachs & Co., RBS Securities Inc., HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC, UBS Securities LLC, WAMU Capital Corp., J.P. Morgan Securities LLC (and as current owner of Bear, Stearns & Co.), and Merrill Lynch, Pierce, Fenner & Smith Inc. (and as current owner of Banc of America Securities LLC). The attorney generals office says that the banks offered the securities to VRS as stable, solid investments, but an analysis showed that nearly 40% of the 785,000 mortgages backing 220 securities purchased by the retirement system had a significantly higher risk for default. The suit charges that these banks knew, or should have known, that claims they made about the quality of the mortgages were false. The attorney generals office said a whistleblower, Integra REC LLC, discovered the fraud using sophisticated methods to match the securities purchased by VRS with the mortgages and properties they contained. The case is being handled by the civil litigation division of the attorney generals office.

HSBC Securities (USA) Inc. Intends to Launch Tender Offer for 8.00% Notes Due 2017 and Consent Solicitation for 7.25% Notes Due 2018 and 7.00% Notes Due 2020

Braskem Finance Limited announced that HSBC Securities (USA) Inc. (the Offeror) intended to launch (i) an offer to purchase for cash Braskem Finance's outstanding 8.00% Notes due 2017, (ii) an offer to purchase for cash Braskem Finance's outstanding 7.25% Notes due 2018 and (iii) an offer to purchase for cash Braskem Finance's outstanding 7.00% Notes due 2020. The offeror intends to launch the tender offers following the announcement of terms of an anticipated financing transaction by Braskem Finance. The offeror intends to establish the tender amount for each series of Notes following such announcement. In connection with the 2018 Notes tender offer, the offeror also intends to solicit the consents of the holders of the 2018 Notes to the adoption of certain amendments to the indenture governing the 2018 Notes to eliminate substantially all of the restrictive covenants, as well as various events of default and related provisions contained in such indenture. The 2018 proposed amendments require the consents of holders of at least a majority in aggregate principal amount of the outstanding 2018 Notes. In connection with the 2020 Notes tender offer, the offeror also intends to solicit the consents of the holders of the 2020 Notes to the adoption of certain amendments to the indenture governing the 2020 Notes to eliminate substantially all of the restrictive covenants, as well as various events of default and related provisions contained in such indenture. The 2020 proposed amendments require the consents of holders of at least a majority in aggregate principal amount of the outstanding 2020 Notes.

HSBC Securities (USA) Inc. Presents at The 5th Annual Covered Bonds the Americas Conference, Oct-17-2013 03:20 PM

HSBC Securities (USA) Inc. Presents at The 5th Annual Covered Bonds the Americas Conference, Oct-17-2013 03:20 PM. Venue: New York Marriott Downtown, New York, New York, United States. Speakers: Mike A. Banchik, Managing Director.

Similar Private Companies By Industry

Company Name Region
Paragon Ventures LLC United States
Enfield Capital, LLC, Research Division United States
The Reid Group LLC United States
Smarter App World International Corporation United States
LPL Independent Advisor Services Group LLC United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact HSBC Securities (USA) Inc., please visit --. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.