News Release

Jack McGinnis Named Controller, HSBC North America Holdings, James Binyon Named Chief Accounting Officer, HSBC Finance Corporation

5 April 2006

Prospect Heights, Ill. - HSBC North America Holdings Inc. (NYSE: HBC) announced that it has appointed John (Jack) McGinnis to be its controller.  Also announced was the promotion of James Binyon to be chief accounting officer of HSBC Finance Corporation, the consumer finance subsidiary of HSBC North America Holdings Inc.

In the new position of controller, McGinnis is responsible for all aspects of accounting and financial reporting for HSBC North America Holdings Inc.  He reports to Simon Penney, chief financial officer of HSBC North America.  McGinnis joins HSBC from Ernst & Young LLP, where he was a partner in the firm's Toronto office for the last 3 years, after having spent 13 years with the firm in the U.S.  He is based at HSBC's North American headquarters in Prospect Heights, Illinois.

In his new role, Binyon, previously vice president and controller of HSBC Finance Corporation, is now its chief accounting officer.  He manages all accounting and financial reporting activities for HSBC Finance Corporation, including accounting policy research as well as external, regulatory and management reporting.  This position was previously held by Beverley Sibblies, chief financial officer of HSBC Finance Corporation.  Binyon reports to Sibblies.

"As one of the top ten banking and financial services institutions in North America, we continue to add high quality professionals like Jack and James, who bring a depth of experience and an international perspective," said Penney.

McGinnis joined Ernst & Young LLP in 1989, serving as a senior manager in both its Chicago and San Francisco offices, before being made a partner in Toronto.  McGinnis has specialized in serving large financial services and banking clients.   He has significant experience in technical accounting, regulatory matters and a variety of banking operations.  He also has deep experience with corporate reporting, corporate and consumer lending, and treasury functions.  McGinnis holds a Bachelor of Business Administration, Public Accounting, from Loyola University of Chicago.  He is a Certified Public Accountant (Illinois) and a Chartered Accountant (Canada).  Jack, his wife and four children are relocating to the Chicago area. 

Binyon brings 22 years of audit and financial services experience to the position. He has worked for HSBC for 17 years.  He has most recently served as vice president and controller of HSBC Finance Corporation, a position he has held since 2004.   He has also worked with HSBC in both Hong Kong and in the United Kingdom.  He has a broad background in all facets of accounting, management reporting, treasury, strategy formulation and financial operations.   Binyon holds an MA Law degree from Trinity College at Oxford University and is also a Chartered Accountant (England and Wales) and a member of the UK Association of Corporate Treasurers.   James, his wife and two children reside in Chicago.

About HSBC North America Holdings Inc.
HSBC - North America comprises all of HSBC's U.S. and Canadian businesses, including the former Household International businesses. The company's businesses serve nearly 60 million customers in five key areas: personal financial services, consumer finance, commercial banking, private banking and corporate investment banking and markets. Financial products and services are offered under the HSBC, HFC and Beneficial brands. For more information, visit: www.hsbcusa.com.

Media Contacts

• Linda Recupero
• Linda.S.Recupero@us.hsbc.com
• HSBC - North America
• 212-525-3800