New HSBC President

Randall Raup to lead mortgage unit
By MortgageDaily.com staff
4/12/2005

HSBC Mortgage Corp. has a new president.

Randall Raup was chosen to lead the day-to-day operations of the mortgage unit and was also appointed as the executive vice president of parent company HSBC Bank USA. The appointments are pending approval by the bank's board of directors, according to an announcement Friday.

The mortgage arm and bank are part of HSBC North America, which was the name recently extended to all the Canadian and U.S. businesses of London-based HSBC Group plc, including the former Household businesses.

Raup previously served as the HSBC Mortgage's senior vice president and chief financial officer. Prior to assuming these roles last August, he was part of HSBC predecessor Household for 20 years.

"Randy is an outstanding manager and leader and brings an extensive knowledge of the business to the position," said HSBC vice chairman Sandy Derickson in the announcement. "I'm fully confident in his ability to lead and grow."

HSBC is reportedly one of the nation's top 20 residential lenders.

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