Press Room | HSBC
HSBC Adds Washington State to its U.S Retail Branch Network
24 April 2009
Seattle expansion the latest addition to its global retail presence.
Mettawa, Ill. - HSBC Bank USA, N.A, (HSBC) part of one of the world's largest financial services organizations, has opened the doors to its first full service retail-focused branch in Washington State, in the heart of downtown Seattle. HSBC currently has a retail banking presence across 13 U.S. States, employing more than 30,000 people and serving over four million customers.
The Seattle bank branch expansion comes in response to rapidly growing customer demand and provides HSBC with a high-profile street level presence in the city. Seattle is already the site of a thriving commercial-focused HSBC operation, which first opened for business in the mid-1970s, and is home to thousands of customers of HSBC Direct, the online savings bank.
Emmy Jordan, Senior Vice President of Member Relations and Business Development for the Greater Seattle Chamber of Commerce, said, "The Greater Seattle Chamber of Commerce is thrilled to have HSBC, 'The world's local bank', in our downtown core. Businesses like HSBC enhance our community and advance the Greater Seattle Chamber's ongoing efforts to ensure our city and the region remain vibrant and cosmopolitan centers for businesses and their employees."
Washington State ranks first in the U.S. in terms of exports per capita and Seattle's economy continues to be one of the best performing in the nation due to its status as a global center for the software industry and core industries such as aerospace and aircraft manufacturing. Census data reveals some 10 percent of the city's population describe themselves as Asian, while over 12 percent are foreign born.
Dominic O'Hagan, HSBC's West Coast Regional President, said, "As 'The world's local bank', with a presence in 86 countries and territories, Seattle was the obvious place to focus our expansion efforts. Its large, internationally orientated community, global connectivity and expanding import/export sector all play exactly to HSBC's strengths and make the city an excellent fit with our West Coast expansion strategy and HSBC's global network."
"We're proud to have HSBC in Seattle," said Benjamin Lee, Chairman, Hong Kong Association of Washington. "HSBC's presence is a very strong statement for both international trade and the Asian community and we are excited about the economic impact the new branch will have on the city."
Newly appointed branch manager, Destine ("Dusty") Bailey, is an experienced banker with over ten years business experience in and around the Seattle area. He is responsible for a team of seven locally employed banking professionals. Among them they are able to
offer service to customers in Chinese, Korean and Filipino as well as English and provide more than sixty years combined banking experience.
Located at 523 Union Street, the brand new 3,000 square foot facility features three teller stations, private consultation rooms and an ATM, as well as the latest in customer-friendly design. It provides a full-range of financial services to both businesses and individuals including: mortgages, loans, wealth management 1 and insurance.
Also offered is Premier2, HSBC's global personal banking service, which provides international recognition, worldwide support, a credit card, single relationship manager and Global View, a unique service which allows customers to access and manage all of their international accounts in one place. Last year, HSBC Premier customer numbers grew by 22 percent to top 2.6m worldwide. Of these, some 260,000 customers reside in the U.S, up from 196,000 in 2007.
This evening, HSBC will mark the occasion of its Seattle launch with a VIP Grand Opening Ceremony, during which a $10,000 grant will be presented to support the Alliance for Education. The Alliance supports the public school system of Seattle by working with the superintendent of schools on her 'Excellence for All' program which includes funding assessments of public schools, increasing graduation rates and supporting other critical needs.
Patrick D'Amelio, President and CEO, Alliance for Education, said, "It speaks volumes of HSBC that they are stepping up to support public schools through this generous gift to the Alliance."
The new branch illustrates HSBC's strategy of expanding selectively in growth markets across the West Coast which benefit most from its financial strength and international network. The bank's presence in the region includes 24 retail branches and four dedicated commercial banking facilities.
"We're delighted to have this distinguished international leader in finance be represented here in Seattle," said Jim Johnson, President and CEO, Washington Athletic Club.
Note to editors
About HSBC Bank USA, N.A.
HSBC Bank USA, N.A. has more than 470 bank branches throughout the United States, with over 380 in New York State. The Bank also operates in Florida, California, Washington D.C., Pennsylvania, New Jersey, Delaware, Oregon, Washington, Maryland, Illinois, Connecticut and Virginia. HSBC 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 largest bank holding companies by assets.
Deposits in the United States are offered by HSBC Bank USA, N.A. Member FDIC.
- Neil Brazil
1 Securities and Annuity Products are provided by Registered Representatives and Insurance Agents of HSBC Securities (USA) Inc., member NYSE/FINRA/SIPC, a registered Futures Commission Merchant, a wholly-owned subsidiary of HSBC Markets (USA) Inc. and an indirectly wholly-owned subsidiary of HSBC Holdings plc. Insurance products are offered through Insurance Agents of HSBC Insurance Agency (USA) Inc., a wholly-owned subsidiary of HSBC Bank USA, N.A., and an indirectly wholly-owned subsidiary of HSBC Holdings plc. Products and services may vary by state and are not available in all states. Securities, Annuity and Insurance Products are: Not a deposit or other obligation of the bank or any of its affiliates; Not FDIC insured or insured by any federal government agency of the United States; Not guaranteed by the bank or any of its affiliates; and subject to investment risk, including possible loss of principal invested.
2 HSBC Premier is a premium financial management service offering a range of banking, investment and financing solutions. To qualify for HSBC Premier, you need to maintain $100,000 in combined personal deposit and investment balances. Business owners may use their commercial balances to qualify for personal Premier membership. A monthly maintenance fee of $50 will be incurred if minimum balance requirements are not maintained.
HSBC Premier provides international recognition and support, international services, credit card rewards and protection around the world, and financial planning and wealth management through a single Premier Relationship Manager. With Premier Centres in 42 countries and territories, HSBC Premier breaks down banking barriers allowing customers to seamlessly bank anywhere in the world.
Within the United States, HSBC Premier Centres can be found in Los Angeles, Miami, New York City, San Francisco, Washington D.C., Westport, CT., and White Plains, NY. Additionally, there are over 250 Premier Centres worldwide.
For more information visit: HSBCPREMIERUSA.com
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