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John Babcock Joins HSBC Private Bank as Regional Manager

24 September 2008

HSBC Private Bank, a division of HSBC Bank USA, N.A., today announced it has named John Babcock a managing director and Regional Manager for the Northeast and Mid-Atlantic region. In this new position, he will report to Patrick Campion, CEO of the U.S. Private Bank, and be based in New York City.

Babcock will manage teams of bankers serving the needs of high net worth individuals, family offices, privately owned businesses and financial sponsors in the Northeast and Mid-Atlantic region. He, together with a team of bankers, will provide clients access to HSBC Private Bank's wide ranging capabilities. These include structured lending, investment management, fiduciary services (trust and estate administration, and custody), as well as a broad array of banking and cash management services. By drawing upon HSBC's global capabilities, Babcock and his team will be able to tailor solutions designed to address each client's specific needs.

"John brings more than 25 years of private banking and wealth management experience serving clients from the Northeast to the Mid-Atlantic region. He adds to our roster of high calibre private bankers and professionals who serve our high net worth clients," said Patrick Campion, CEO of HSBC's U.S. Private Bank. "In the current market environment, HSBC continues to provide clients with local expertise and international insights—especially in emerging markets."

Babcock joins HSBC Private Bank from U.S. Trust Company / Bank of America Private Wealth Management where most recently he was a managing director and the market executive for the metro New York region. Prior to that, he was a managing director at The Bank of New York responsible for the domestic private banking teams covering New York City and the Tri-State region. He holds an M.B.A. from Fairleigh Dickinson University and a bachelor's degree from Tulane University.

HSBC Private Bank has offices in Beverly Hills, Chicago, Los Angeles, Miami, Morristown, New York, San Francisco and Wilmington. In the U.S., it 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 as well as the HSBC Private Banking entities, known collectively as Group Private Banking, provides services to high net worth individuals and their families through 96 locations in some 44 countries and territories in Europe, the Americas, the Asia-Pacific region, the Middle East and Africa. At 30 June 2008, profits before tax were US$822 million for the first half year and combined client assets under management were US$499.3 billion.

For more information, visit www.hsbcprivatebank.com

HSBC Holdings plc

HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from more than 9,500 offices in 85 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$2,547 billion at 30 June 2008, 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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