Zurich adds to controversy on 'finite risk'

Article Abstract:

Zurich Financial Services AG is being investigated by Australian regulators, particularly Zurich Australia Insurance Ltd. and Zurich Financial Services Australia Ltd. for complicated reinsurance transactions that increased earnings artificially. This disclosure will increase the controversy over the use of 'finite reinsurance'.

Australia, Legal issues & crime, Switzerland, Capital funds & cash flow, Company legal issue, Investigations, Accounting and auditing, Zurich Financial Services, Company Profile

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HSBC taps 2 to help fix U.S. mortgage unit woes

Article Abstract:

In an attempt to solve problems within HSBC Finance, the U.S. mortgage division of HSBC Holdings PLC, two new executives have been appointed. Chris Spooner has been appointed chief financial officer, and Brendan McDonagh has been appointed chief operating officer.

United States, Executive changes & profiles, Parent-to-subsidiary activities, Subsidiary-to-parent activities, United Kingdom, Officials and employees, Appointments, resignations and dismissals, HSBC Holdings PLC, Subsidiaries, divisions and units, Spooner, Chris, McDonagh, Brendan

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