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News Release
HSBC Opens its First Connecticut Bank Branches
Bank opens Stamford and Shelton branches; Plans further expansion in 2007
20 November 2006
NEW YORK – HSBC USA Inc., the U.S. banking unit of one of the world’s largest financial services companies, today announced the opening of its first branches in Connecticut. The new branches are the first of about 16 planned for Connecticut’s Fairfield County. They are located at 7 Landmark Square in Stamford and 704 Bridgeport Ave. in Shelton.
HSBC also has plans to open an office in Greenwich to house its commercial banking, private banking, cash management, wealth and tax advisory services and mortgage operations in December.
“As HSBC continues to expand throughout the U.S., we will continue to bring all of the bank’s global capabilities to new markets while truly understanding and becoming a part of the local communities where we do business,” said Brendan McDonagh, chief operating officer of HSBC USA Inc. “Connecticut is the latest example of how we are executing our ongoing organic growth plan.”
HSBC plans to open branches in Westport, Norwalk and Darien during the next several months. The bank’s Connecticut branches will provide individuals and small businesses with a full line of deposit, lending and wealth management services, including HSBC Premier banking. Premier provides customers with a dedicated relationship manager and a full range of domestic and international banking capabilities.
To add to HSBC’s footprint in Connecticut, the bank has reached an agreement with Cardtronics Inc. to brand as many as 34 ATMs in Walgreens stores located in Fairfield and New Haven counties. These ATMs will be surcharge free to HSBC customers, just like the bank’s on-premise ATMs. HSBC has a similar agreement with Cardtronics in New Jersey.
The bank’s Connecticut branch network will be overseen by Paul Ho, senior vice president and district executive. Ho joined HSBC in 1993 and was most recently responsible for the bank’s Asian market banking segment. He began his banking career at Citibank in 1983. The Stamford and Shelton branches are managed by Deborah DeMatteis and Kristin Bures, respectively.
HSBC is also establishing a commercial banking, private banking, cash management, Wealth and Tax Advisory Services and mortgage office in Connecticut. The office will be located at 8 Sound Shore Drive in Greenwich and will open Dec. 4.
The commercial banking group, led by Paulette Laurenzi, will provide lending and deposit services to medium and large businesses in Connecticut and Westchester. Laurenzi joined HSBC in May from PNC Bank, where she was a senior vice president. At HSBC, she is senior vice president and commercial executive and is responsible for a team of 10 commercial bankers focused on Connecticut and Westchester. She has spent more than 17 years as a commercial banker.
Peter Carlson will manage HSBC’s Connecticut-based private banking operations. 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. Carlson joined HSBC in October 2005 to oversee private banking for upstate New York, Washington D.C. and Boston. Previously, he was a director and private banker at Citigroup Private Bank.
About HSBC USA Inc.
HSBC USA Inc. is the holding company for HSBC Bank USA, N.A., HSBC National Bank USA and other U.S. banking subsidiaries, which together have a U.S. branch network of more than 430 branches in nine states and the District of Columbia, with nearly 400 branches in New York State. These entities serve more than 3 million U.S. individual and corporate customers and offers a full range of banking products and services. HSBC USA Inc. is an indirectly held, wholly owned subsidiary of HSBC North America Holdings Inc., one of the nation's 10 largest bank holding companies by assets.
Media Contacts
- Stephen Cohen
- stephen.e.cohen@us.hsbc.com
- HSBC - North America
- 212-525-6901
