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HSBC North America Appoints Stuart Alderoty

2 December 2010

New York, NY (December 2, 2010) – HSBC North America Holdings Inc. (“HSBC North America”) today announced the appointment of Stuart Alderoty as Senior Executive Vice President and General Counsel, North America. He reports to Niall Booker, CEO of HSBC North America, with a functional line to Richard Bennett, Group General Counsel of HSBC Holdings plc.

Alderoty has practiced law for 25 years, most recently with American Express. He joined American Express in February of 2002 as Chief Litigation Counsel. Alderoty assumed broader responsibilities as Managing Counsel in 2006 and served on the leadership team of the President and CEO of the U.S. Consumer business. In addition, he managed a broad team that was responsible for legal issues related to privacy, global advertising and brand management, as well as American Express' insurance arm.

Prior to joining American Express, Alderoty was a litigator in private practice for 17 years, the last 13 of which with a national law firm, Leboeuf, Lamb, Greene and MacRae, where he was named a partner in 1996.

“Stuart’s range of experience makes him a strong addition to the HSBC North America leadership team and our global legal team” said Niall Booker.

Alderoty, 51, succeeds Janet Burak, who is assisting with the transition as Special Legal Advisor to the Niall Booker until her retirement in February 2011.

About HSBC North America

HSBC North America Holdings Inc. is one of the ten largest bank holding companies in the United States with assets of $334 billion at 30 June 2010 (US GAAP). The company’s businesses serve customers in the following key areas: personal financial services, credit cards, specialty insurance products, commercial banking, private banking, and global banking and markets.

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