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HSBC Private Bank Opens New Jersey Office

2 April 2008

New office to service high net worth individudals, family offices and privately owned businesses.

HSBC Private Bank, a division of HSBC Bank USA, N.A., today announced it has expanded its private banking presence by opening a new office located at 1776 On The Green, 67 Park Place, Morristown, NJ. The office will be staffed by senior private bankers, Ihor Zwarycz and Christopher Zias, who joined HSBC in October as senior vice presidents. The team will be responsible for serving the needs of high net worth individuals, family offices, privately owned businesses and financial sponsors in the New Jersey and Mid-Atlantic regions. Zwarycz and Zias will provide clients access to HSBC Private Bank’s global capabilities and knowledge in such areas as structured lending, investment management, fiduciary services (including trust and estate administration, and custody) as well as a broad array of banking and cash management services. They will also maintain offices at 452 Fifth Avenue, New York.

“Opening a New Jersey office is part of our strategy to expand our presence in the U.S. while maintaining our ‘boutique’ service approach,” said Patrick Campion, CEO of the U.S. Private Bank. “Ihor and Chris each have more than 20 years of financial services experience and are well versed in addressing the diverse and complex needs of today’s high net worth individuals. They will be able to bring clients HSBC’s full range of private banking services and access to HSBC’s investment banking and insurance services.”

Zwarycz and Zias joined HSBC from Citigroup Private Bank where they were senior private bankers in the bank’s Short Hills, New Jersey office.

HSBC’s U.S. private banking operations include offices located in: Beverly Hills, Boca Raton, Boston, Buffalo, Chicago, Greenwich, Los Angeles, Miami, Morristown, New York, San Francisco, Washington, D.C. and Wilmington. In the U.S., HSBC Private Bank offers all types of deposit and credit services, advisory services in family office, media and entertainment and real estate. It also offers clients tailored investment financing, hedge fund advisory, derivatives and structured solutions.

Notes to editors:

HSBC Private Bank

HSBC Private Bank is the marketing name for the private banking business conducted by the principal private banking subsidiaries of the HSBC Group worldwide. HSBC Private Bank, together with HSBC Guyerzeller and the private banking activities of HSBC Trinkaus & Burkhardt as well as the HSBC Private Banking entities, provides private banking and trustee services to high net worth individuals and their families through 90 locations in some 37 countries in the Americas, the Asia-Pacific region, Europe and the Middle East. At 31st December 2007 profits before tax were US$1,511 million for the full year 2007 and combined client assets under management were US$494 billion.

HSBC Holdings plc

HSBC Holdings plc serves over 128 million customers worldwide through around 10,000 offices in 83 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of some US$2,354 billion at 31 December 2007, HSBC is one of the world's largest banking and financial services organisations. HSBC is marketed worldwide as 'The world's local bank'.

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