MARKET TALK: HSBC US CEO Retirement Sends Strong Signal- Oriel

15th Jun 2010 08:10

0710 GMT [Dow Jones] The retirement of HSBC Holdings' (HBC) North American CEO Brendan McDonagh sends a "very strong signal" that the US consumer finance business is now firmly under control, says Oriel Securities analyst Mike Trippitt. Trippitt says McDonagh's replacement, Niall Booker, is a strong, logical choice, who will likely focus on growing the core US banking business. Keeps buy rating and 730p target. Shares -0.9% at 645p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 15, 2010 03:10 ET (07:10 GMT)

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