Finn Casperson, former chief executive of Beneficial Finance — once one of the largest players in consumer home equity-based lending — has been found dead in what authorities say is an apparent suicide. Mr. Casperson served as CEO from 1976 to 1998, during a time when the firm specialized in low loan-to-value ratio second liens backed by homes. When he became CEO of the firm he succeeded his father. Beneficial was sold to Household International in 1998 for about $9 billion. HSBC Holdings eventually bought Household for $14 billion. The British bank later booked huge losses on Household's subprime business.
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