HSBC – Quick Stats

Type – Subsidiary of HSBC Holdings plc
Founded – 1850
Headquarters – New York, NY, United States
Key people – Michael Geoghegan, Worldwide Group CEO
Irene Dorner, Bank President and CEO
Industry – Finance and Insurance
Products – Financial Services
Employees – 43,000 (including HSBC Finance Corporation)
Website – www.us.hsbc.com

HSBC acquired a 51% shareholding in Marine Midland Bank of New York State, headquartered in Buffalo, New York, in 1980 and extended to full ownership in 1987. The banks continued to operate under the Marine Midland name until 1998, when the branch offices were rebranded as HSBC Bank USA in line with the worldwide corporate identity of HSBC.

There are some 400 HSBC branches throughout New York in addition to some 20 to 25 branches in other states, including Florida and California offering services including HSBC card services and HSBC online banking. There was a branch office on the ground floor of the World Trade Center in New York City.

HSBC Direct is HSBC’s attempt to compete nationally with other Internet banks such as Citibank Direct, Emigrant Direct, GMAC Bank, ING Direct, and VirtualBank.