As CEO McDonagh is responsible for HSBC’s consumer finance businesses in the U.S., including consumer and mortgage lending, credit cards, auto finance, insurance and taxpayer financial services. As COO he has responsibility for the corporate head office functions at HSBC headquarters in Prospect Heights, Illinois. McDonagh is also a group general manager for HSBC Holdings, the Chair-elect of the Consumer Bankers Association, an associate of the Institute of Financial Services, and a fellow of the Chartered Management Institute, a UK organization.

McDonagh is a first-generation Irish American whose father is from Dublin and mother is from Ballina, County Mayo. He received his Bachelor of Business Studies and Master of Arts degrees from Trinity College, Dublin. He is active in several USA / Ireland organizations including the New York Regional Board of the American Ireland Fund and the USA Board of Co-operation Ireland. He currently resides in Chicago with his wife and two children.