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HSBC Reinforces Trade and Supply Chain Strength in North America

10 September 2009

New Head of Sales, North America and Senior Supply Chain Sales Manager Join Trade and Supply Chain Team in New York.

HSBC, one of the world's largest financial services organizations, today announced that it has appointed Steven Lotito as Head of Sales, Trade and Supply Chain for the United States. Based in New York, he reports to William Nowicki, Head of Trade and Supply Chain - North America.

Lotito is responsible for working with the bank's commercial and corporate banking teams around the world to deliver information on international markets, innovative products, financing solutions and excellent service to help U.S. clients navigate some of the most important trade markets. His appointment is one of several management appointments the business has made globally over the past months, including the addition of Pauline Kontos as senior sales manager.

"Our aim is to support companies operating in North America, which are either sourcing from overseas or developing export markets for their products, with an international offering of products and services," said Nowicki. "Steven's more than nineteen years of experience in the financial services industry and expertise in structured finance, risk mitigation and supply chain will be of great benefit to our current and future clients."

"Recent appointments underscore our commitment to assisting companies in North America to grow internationally and better manage their supply chain around the world," said Chris P. Davies, Head of Commercial Banking for HSBC - North America. "The entire team will further enhance the manner in which we provide commercial banking clients access to our global network and trade and supply chain products and services."

Lotito joins HSBC from the Australia & New Zealand Banking Group (ANZ) where he was a Director and Head of Transaction Banking for the Americas responsible for developing and delivering the firm's Asian capabilities to U.S. customers. Prior to joining ANZ, he held senior trade finance roles at a variety of institutions including ABSA Banking Corporation, Ecoban Finance Ltd., Phibro Inc. and Chase Manhattan Bank.

Lotito holds a Bachelor of Science in Business with a concentration in Finance from St. John's University, College of Business Administration in New York.

Pauline Kontos joins HSBC from Bank of America, where most recently, she was the National Program Manager for the Export-Import Working Capital program. Previous to that position, she was the supply chain solutions champion for the Mid-West. She holds a Bachelor of Science in Accounting from The University of Illinois at Chicago and is a Certified Public Accountant.

Notes to editors:

HSBC Trade and Supply Chain

HSBC Trade and Supply Chain is one of the largest trade services organizations in the world. Our award-winning international trade expertise combines over 140 years of extensive experience in international trade with a unique blend of local knowledge, supported by advanced technology and our extensive network of dedicated trade services offices in over 60 countries and territories worldwide.

About HSBC Bank USA, N.A.

HSBC Bank USA, National Association operates more than 460 bank branches throughout the United States, with approximately 380 in New York state as well as branches in Connecticut, Washington D.C., Florida, New Jersey, Maryland, Virginia, California, Delaware, Illinois, Oregon and Washington State. HSBC Bank USA, N.A., with total assets of $250.8 billion, offers its four million plus retail customers access to global markets and services. The bank provides a full-range of banking products and services to individuals, corporations, small businesses, institutions and governments through its personal financial services, commercial banking, private banking and global banking and markets segments. The bank is also an international dealer in capital market instruments and has mortgage banking, insurance and brokerage operations.

HSBC Holdings plc

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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