HSBC branches out in New Jersey

Real Estate Weekly, July 6, 2005

HSBC Bank USA, N.A. plans to expand into New Jersey with at least six new branches in 2005 and more in 2006.

HSBC's first New Jersey branch opened earlier this month in Hillside. Among the additional locations in which HSBC plans to open branches in the next six months are Fort Lee, Englewood, Hoboken, Parsippany, Morristown, Milburn, Westfield and Jersey City.

The bank's New Jersey headquarters will be in Parsippany, which houses district executives as well as commercial and real estate lending staff.

HSBC already employs more than 1,300 people in the state in its securities, mortgage, technology services and Internet operations.

As part of the planned expansion, HSBC plans to add more than 125 new jobs in New Jersey this year.

"We're very excited to continue our branch expansion by bringing HSBC's mix of local knowledge and service and its global reach and capabilities to New Jersey," said Martin Glynn, president and chief executive officer of HSBC Bank USA.

"With our strong presence in Metro New York, New Jersey is a natural place for HSBC to continue its U.S. expansion, and we look forward to serving the needs of individuals and businesses who live and work in the Garden State."