News Release

John Woodhull Joins WTAS as a Director in Chicago

18 January 2007

HSBC's Wealth and Tax Advisory Services business ('WTAS') today announced that John Woodhull has joined its Chicago practice as a director reporting to office managing director, Joe Karczewski.  WTAS is an independent (unaffiliated with an auditing institution) provider of tax, valuation, financial advisory and related consulting services. Woodhull will provide services to WTAS's tax exempt clientele in Chicago and throughout the Midwest region.

"John is a great addition to our team," said Joe Karczewski.  "He has extensive experience in providing strategic and operational tax guidance to some of the largest educational, healthcare and fundraising tax exempt organizations in the country.  John has also authored a number of articles on tax exempt issues ranging from charitable fundraising to hospital conversions."

Woodhull has more than 25 years of experience in the area of tax exempt organizations, including eight years with the Exempt Organizations Technical Division of the IRS's national office in Washington, DC.  Prior to joining WTAS, Woodhull worked for KMPG LLP and headed the tax exempt practice in Chicago.

WTAS has also hired five associates for the Chicago tax team. They are Robert Nanney, Kevin Whittingham, Itoji Kawasaki-Combs, Mona Tousi and Jeff Anderson. WTAS opened a Chicago office, located at 71 South Wacker Drive, Suite 2700, in 2006.

Media Contacts

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