News Release

Schwartz Joins HSBC'S US Loan Syndication Group

28 June 2006

HSBC Securities (USA) Inc. today announced it has hired Jay Schwartz as a managing director in the U.S. loan syndications group.  In this new role, he is responsible for leading HSBC's origination efforts within loan syndication for the Americas.  He reports to Michael McGovern, head of syndicated finance for the Americas, and is based in New York.

Schwartz joins HSBC from Wells Fargo Securities where he was a managing director in investment banking.  Prior to that, he was as a senior investment banker covering energy and power sector companies at Banc of America Securities. From 1999 to 2001, he was a managing director within JPMorgan Securities' syndicated and leveraged finance area.

"With the addition of Jay as the senior banker for origination and Nancy Del Genio, who joined earlier this year to head up our loan distribution efforts, we have put together a top-notch senior team to serve our issuer and investor clients," said Michael McGovern. "Jay's experience originating and structuring significant transactions across a broad range of industries will enhance our ability to serve our global banking clients."

Media Contacts

• Juanita Gutierrez
• Juanita.gutierrez@us.hsbc.com
• HSBC - North America
• 212.525.6282