News Release

HSBC Names Marlon Young CEO of Private Bank for the Americas

19 September 2006

NEW YORK - HSBC Private Bank, a division of HSBC Bank USA, N.A., today announced it has named Marlon Young chief executive officer for the Americas. His appointment is subject to board approval.

Young joined HSBC in March as managing director and head of U.S. domestic private banking. He joined HSBC after 27 years at Citigroup where most recently he was the head of private client lending at Smith Barney. He has held various leadership roles including head of the Northeast region for Citigroup Private Bank, head of investment finance and senior credit officer for the U.S. Northeast and Mid-Atlantic regions. His international private banking experience includes assignments as team head of the Hong Kong ultra high net worth segment and global markets manager for Thailand. Young also has extensive corporate banking experience covering the commercial real estate, automotive and energy industries.

"Marlon enjoys a justified reputation and his leadership skills will augment the fine platform in place. HSBC Private Bank in the Americas remains in strong growth mode," said Clive Bannister. "Growth will continue in 2007 as the business matures and continues to achieve closer collaboration with the rest of our organization."

Young holds a Master's degree in business management from the Asian Institute of Management in Manila, Philippines and is fluent in English, Tagalog and Mandarin.

Media Contacts

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