News Release

HSBC Expands Chicago-Area Operations

One of world's largest financial services companies opens Chicago banking office

10 October 2006

Prospect Heights, Ill. -- HSBC North America Holdings Inc. today announced it is adding banking services in the Chicago area. HSBC's new downtown Chicago office will offer commercial banking, cash management services, private banking and commercial real estate banking. The office will be located at The Hyatt Center, 71 S. Wacker.

The addition of the Chicago office adds to HSBC's substantial presence in Illinois. The company employs more than 6,000 people in the state, including those at its North America headquarters in Prospect Heights. In addition to Prospect Heights and downtown Chicago, HSBC also has employees in Deerfield, Elmhurst, Franklin Park, Mount Prospect, Schaumburg, Vernon Hills and Wood Dale.

"As HSBC has expanded in the U.S., we have focused on offering a full complement of banking services to our customers, and Chicago will be another great example of that effort," said Brendan McDonagh, chief operating officer of HSBC USA Inc., the company's U.S. banking unit. "We are especially thrilled to expand our banking operations into Illinois to build on HSBC's already significant presence in the state."

To establish its commercial banking operations in Chicago, HSBC has named Aimee Daniels senior vice president and commercial executive. Daniels joins HSBC from Cap X Partners, where she was partner in charge of sales and marketing. Prior to her work there, she was senior vice president and division head of LaSalle Bank's downtown Chicago office. Daniels will lead a team of Chicago-based commercial bankers who will focus on medium and large businesses in Chicago and throughout the Midwest.

To oversee cash management operations in Chicago, HSBC has hired Chris Hamilton as first vice president. Hamilton joins HSBC from LaSalle Bank, where he was most recently responsible for coverage of large and middle market corporates. Euromoney named HSBC "Best Cash Management Bank in the US/North America" in its 2006 Awards for Excellence ranking.  Hamilton, who joined HSBC Sept. 19, reports to David Wexler, head of commercial cash management for the U.S.

HSBC has also established a private banking office in Chicago with the hiring of David Pateros as managing director for the private bank's Central region. HSBC Private Bank specializes in offering wealth management and banking services to entrepreneurs, real estate developers, business owners, financial sponsors, hedge fund firms and those in the media and entertainment industry. Pateros was previously managing director in the Chicago private banking office of Citigroup. Pateros reports to Marlon Young, CEO of HSBC Private Bank for the Americas. Also joining the private bank in Chicago is Martin Rosa, senior vice president and relationship manager. He will report to Pateros.

The company's Wealth and Tax Advisory Services business, a division of HSBC Private Bank, opened its Chicago office in May.

HSBC also plans to add a commercial real estate team in Chicago in the coming months.

Media Contacts

• Stephen Cohen
• stephen.e.cohen@us.hsbc.com
• HSBC - North America
• 212-525-6901