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From the Swinging Sixties to the Present Day: HSBC Mid-Town Branch Celebrates 45 Years of Serving New York City

15 August 2011

New York, NY - The HSBC Bank USA, N.A.(HSBC) branch at 452 Fifth Avenue celebrates a notable anniversary this year with forty-five years of serving the banking needs of New York City's Mid-Town community. A branch presence was first established on this spot in 1966 and initially operated under the name Republic National Bank until it was acquired by HSBC some thirty years later. In a history spanning over four and half decades, the branch has enabled thousands of New York businesses to grow and helped countless New Yorkers take their first step on to the property ladder.

Located opposite the New York Public Library and situated directly below the corporate headquarters of HSBC North America, the branch exterior represents a composite of architectural design elements ranging from the highly decorative Beaux-Arts moment of the early 1920s to the sleek modern lines of today. The Beaux-Arts area of the facility which remains intact was originally designed by the notable New York City architect John H. Duncan and erected by Colonel Edward Martin Knox in 1902.

452 Fifth Avenue

"This anniversary is a great milestone for us and the Mid-Town area," said Tom Haggerty, HSBC's Manhattan District Director. "Since taking over the branch more than 12 years ago we've been pleased to provide a full suite of banking services to internationally connected individuals and businesses who benefit both from our on-the-ground presence in New York City and extensive global reach."

The newly updated facility has been configured to meet heightened demand from internationally-connected customers. It features a customer friendly design incorporating a Premier banking lounge and Business Banking Center with access to a full suite of commercial products and services including: Deposit, Commercial Lending, Payments & Cash Management, Trade & Supply Chain and Foreign Exchange. Also on hand are express banking ATMs and teller services for Premier, Business and other retail transactions as well as several meeting rooms.

Staffed by a team of 47 employees including on-site Business Banking professionals, the Fifth Avenue branch also offers banking assistance in multiple languages including Chinese, Spanish and English.

Note to editors

HSBC in New York

The HSBC Group has had a presence in New York City since 1880 when it became the second foreign bank to open in the City. HSBC's current network extends to 116 branches across the five boroughs, with over 1400 locally employed staff. Branches offer assistance in some of the world's most widely spoken languages, including Chinese, Spanish, Hindi, Russian and Arabic as well as English.

Who we are:

HSBC Bank USA, National Association, with total assets of $181 billion as of 31 December 2010 (US GAAP), serves around 4 million customers through its personal financial services, commercial banking, private banking, asset management, and global banking and markets segments. It currently operates more than 470 bank branches throughout the United States. There are over 365 in New York State as well as branches in Connecticut, Washington, D.C., Florida, New Jersey, Pennsylvania, Maryland, Virginia, California, Delaware, Illinois, Oregon and Washington State. HSBC Bank USA, N.A. is the principal subsidiary of HSBC USA Inc., an indirect, wholly-owned subsidiary of HSBC North America Holdings Inc., one of the nation's largest bank holding companies by assets. HSBC Bank USA, N.A. is a member of the FDIC. Deposit products offered in the U.S. through HSBC Bank USA, N.A.

HSBC Retail Banking and Wealth Management

HSBC Retail Banking and Wealth Management ('RBWM') was established in March 2011, bringing together the HSBC's Personal Financial Services, Insurance and Asset Management businesses under a unified management structure. Through HSBC Premier and HSBC Advance, RBWM's aim is to provide consistent and high quality retail banking and wealth management services to customers in selected markets by leveraging HSBC best practice in retail banking and by developing world class wealth management for retail customers. For the first half of 2011:

  • RBWM generated a profit before tax of US$3,126 million
  • RBWM had total customer deposits of US$542 billion as at 30 June 2011
  • RBWM had total net loans and advances to customers of US$401 billion as at 30 June 2011
  • HSBC Global Asset Management had funds under management of US$449 billion as at 30 June 2011, of which emerging markets funds under management were US$135 billion

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