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Allison Mahoney Joins HSBC Private Bank in New York

6 August 2009

Mahoney joins the bank as a senior vice president reporting to John Babcock.

HSBC Private Bank today announced that Allison P. Mahoney has joined as a senior vice president reporting to John Babcock, a managing director and Regional Manager for the Northeast and Mid-Atlantic region.

Based in New York City, Mahoney will work with HSBC Private Bank's internal experts to address the specific needs of high net worth individuals and families by developing tailored wealth management strategies. She will assemble client teams to implement solutions and provide access to the bank's full spectrum of products and services to New York area clients. The product and services include: liquidity management, fiduciary services (trust and estate administration, and custody), as well as a broad array of banking, family wealth and philanthropic advisory services.

"Allison brings to HSBC more than 18 years of private banking experience serving the diverse needs of high net worth individuals during various market cycles," said Patrick Campion, CEO of HSBC's U.S. Private Bank. "HSBC Private Bank is pleased to include her in its roster of senior private bankers as we continue to assist our clients through the current market environment."

Mahoney joins HSBC Private Bank after more than eight years at U.S. Trust Company in New York where she was a senior relationship manager serving the needs of high net worth individuals. Prior to that, she was a relationship manager at The Bank of New York responsible for providing the bank's high net worth clients with financial planning, custody, fiduciary and investment management services. She holds a bachelor's degree from Marymount College in Tarrytown, New York.

HSBC Private Bank provides wealth management and advisory services to high net worth individuals and families with local and international needs through 96 locations in some 42 countries and territories around the world. Our services include banking, liquidity management, investment services, custody, tailored lending, wealth planning, trust and fiduciary services, insurance, family wealth advisory and philanthropic advisory.

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. In the United States, HSBC Private Bank offers banking services through HSBC Bank USA, N.A. and HSBC Private Bank International, and provides securities and brokerage services through HSBC Securities (USA) Inc. HSBC Bank USA, N.A. - Member FDIC.

HSBC Private Bank and the private banking activities of HSBC Trinkaus known collectively as Global Private Banking, provide services to high net worth individuals and their families through 96 locations in some 42 countries and territories in Europe, the Americas, the Asia-Pacific region, the Middle East and Africa.

At 2 March 2009 profits before tax were US$1,447 million for the year ended 31 December 2008 and combined client assets under management were US$433 billion.

For more information, visit www.hsbcprivatebank.com

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 Bank USA, N.A. 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.

The HSBC Group

HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 8,500 offices in 86 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$2,422 billion at 30 June 2009, 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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