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HSBC Bank Names New Midwest Senior Vice President

8 July 2008

New York - HSBC Bank USA, N.A. today announced the appointment of Paul Cronin as senior vice president and regional commercial executive for the Midwest. Based in Chicago and reporting to Joe Saffire, executive vice president, head of commercial banking for Upstate New York and the Midwest, Cronin will be responsible for managing a team of Chicago-based commercial bankers serving the international needs of Midwest companies with $250 million to $5 billion and more in sales. Cronin succeeds Aimee Daniels who was appointed executive vice president and regional president for the Mid-Atlantic region earlier this year.

"The Midwest region has seen a flurry of activity as local companies look beyond regional markets for growth," said Joe Saffire. "I am confident U.S. companies with international activities and with trade, cash management, foreign exchange and risk management needs will be well served by Paul and his team."

Under Paul's leadership, our experienced team of commercial bankers will provide Midwest companies with access to HSBC's commercial banking network in 64 countries and territories," said Christopher P. Davies, senior executive vice president and head of commercial banking for North America.

Cronin brings more than eighteen years of international and domestic banking experience to HSBC. Prior to this role, he was a senior vice president, regional commercial executive and head of mid-corporate banking for Chicago, with the Royal Banking of Scotland (RBS Citizens N.A.). Before Cronin was employed by RBS, he was a senior vice president and division head of commercial banking at LaSalle Bank N.A. He spent ten years at ABN AMRO Bank in a variety of roles including corporate finance, leveraged finance and asset management before joining LaSalle Bank.

In addition to his professional responsibilities, Cronin is an active and prominent figure in the local community. He currently serves on a variety of boards including the Newman Center Board and the Founding board of Lumen Institute in Chicago. Cronin assists in fund raising for Mercy Home for Boys and Girls and for Misericordia.

A native of Ireland, Cronin earned a master's in business finance from the Graduate School of Business at the University College Dublin and a bachelor's in commerce from the University College Dublin. He is also an Illinois C.P.A. and Fellow of the Institute of Chartered Accountants in Ireland.

HSBC-North America employs about 5,800 professionals in Illinois.

Notes to editors:

About HSBC Bank USA, N.A.

HSBC Bank has more than 460 bank branches throughout the United States, with about 380 in New York state and a growing network of branches in New Jersey, Florida and California. The bank also has branches in Delaware, Washington, D.C., Washington state, Pennsylvania, and Oregon. It is the principal subsidiary of HSBC USA Inc., an indirectly-held, wholly-owned subsidiary of HSBC North America Holdings Inc. HSBC USA Inc. is one of the nation's 10 largest bank holding companies by assets.

HSBC Holdings plc

HSBC Holdings plc serves over 128 million customers worldwide through around 10,000 offices in 84 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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