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Jack McGinnis Named Chief Financial Officer for HSBC North America Holdings

25 April 2012

McGinnis Succeeds Edgar Ancona, Retiring After 18 years at HSBC

New York - HSBC North America Holdings Inc. announced today that Jack McGinnis has been appointed Chief Financial Officer (CFO), effective on June 30, subject to regulatory approvals.

McGinnis, currently CFO for HSBC Bank USA, succeeds Edgar Ancona, who has decided to retire after 18 years at HSBC. In addition to his new role, McGinnis will retain his responsibilities as CFO for HSBC USA and will become a member of HSBC's Finance Management Board (FMB). McGinnis will jointly report to Irene Dorner, President and Chief Executive Officer of HSBC North America Holdings and HSBC USA and Iain Mackay, Group Finance Director for HSBC Holdings PLC.

Irene Dorner said, "It is a pleasure to congratulate Jack on his new role, and we thank Edgar for his years of service, where he helped transform the finance organization and built bench strength of his team leadership, which included Jack. HSBC will greatly benefit from Jack's extensive financial experience going forward."

"Jack has an impressive depth of financial expertise and leadership experience" said Iain Mackay. "Jack will play an important role in both our North America team and our global finance team as we continue to execute our global strategy to be the leading international bank."

Ancona has served as CFO for HSBC North America since fall 2009. He previously served as CFO of The Hong Kong and Shanghai Banking Corporation Limited, where he was a key adviser for the Group's numerous acquisitions in the region. Since joining HSBC in 1994, Ancona also held leadership roles in HSBC Finance and HSBC - North America as Head of Treasury and Head of Asset Liability Management, respectively.

Prior to serving as CFO for the U.S. Bank for the past two years, McGinnis served as Chief Accounting Officer for HSBC - North America, where he led the centralization of the accounting function for North America. McGinnis joined HSBC in 2006 as the Controller for North America. Prior to his tenure at HSBC, McGinnis was a partner at Ernst & Young LLP, working at the firm for 16 years in the United States and Canada.

About HSBC North America Holdings Inc

HSBC North America Holdings Inc. is one of the ten largest bank holding companies in the United States with assets of US $331 billion at 31 December 2011 (US GAAP). The company's businesses serve customers in the following key areas: retail banking and wealth management, credit cards, specialty insurance products, commercial banking, private banking, asset management, and global banking and markets.

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