Originally Posted by
ExpatExp
Interesting. If HSBC pulls out of the US, I wonder what other choices will be left, if any, that permit a single login to access accounts in mutiple countries.
Don't worry. That won't happen. Most major banks in the world will not be interested in acquiring the HSBC US business.
First - the US business is not in trouble, but just not performing as expected. So HSBC will not lower its price. While WF has prior working relationship with HSBC, WF will be only interested when HSBC can lower its price (as majority of HSBC US branches in the West Coast will need to be closed). Barclays may be interested in offering a true retail experience, but HSBC's customers are interested in HSBC's international network. So practically Barclays will get the branches only.
The value of HSBC US business is highly dependent on its network. Without the network, it is similar to many regional banks. That's why no one will be really interested.