Marine Midland is now HSBC Bank USA

CNY Business Journal (1996+), Apr 09, 1999

SYRACUSE--Marine Midland Bank, the principal U.S. subsidiary of London-based HSBC Holdings plc, has changed its name to HSBC Bank USA. The name change is part of a global initiative by the HSBC Group to create a unified brand, using the letters "HSBC" and the hexagon symbol, to strengthen recognition of the group as one of the world's largest banking and financial-services organizations.

Malcolm Burnett, president and CEO, HSBC Bank USA, remarked, "We are a community bank with 150-year roots in New York State and a global bank with a commanding presence in the world's major financial centers. These are unique competitive strengths which position us for success in the 2 1st century."

To further heighten its profile in the American marketplace and worldwide, HSBC Holdings plc plans during 1999 to seek a listing, subject to market conditions, on the New York Stock Exchange. This listing will supplement HSBC's dual primary listings on the London and Hong Kong stock exchanges. HSBC currently has a sponsored American Depository Receipt program in the United States.

HSBC Bank USA is a New York State-chartered bank with over $33 billion in assets and 9,500 employees. Founded in 1850 and headquartered in Buffalo since its inception, it became a member of the HSBC Group in 1980 and a wholly owned subsidiary in 1987. In the U.S., the bank provides personal and commercial customers with financial services through 374 New York State branches, two newly acquired Pennsylvania branches, a nationwide network of lending offices, and diverse electronic delivery systems. It is a principal member of the HSBC Group, which has more than 5,000 offices in 79 countries and territories and had assets in excess of $483 billion at Dec. 31, 1998. It is one of the world's largest financial services organizations.