HSBC Private Bank Names Joe Abruzzo as Business Head of North America

NEW YORK--(BUSINESS WIRE)--

HSBC Private Bank today announced the appointment of Joe Abruzzo as Business Head of North America.

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In this role, Abruzzo will be responsible for driving and executing HSBC's strategy for private banking across North America, particularly in the US, a key market for HSBC Global Private Bank. He will also serve as a member of the HSBC Global Private Bank Executive Committee.

Based in New York, Abruzzo will report to Marlon Young, Regional Head of Global Private Banking, US & Latin America.

"This is an exciting time for Joe to join the Private Bank," said Young. "We're growing our business in the US and as we look to build on this momentum, Joe's deep commercial and investment banking experience will help us to further capitalize on our strategy to be the Private Bank of choice to the owners and principals of HSBC's corporate clients."

With over 30 years in banking, Abruzzo most recently served as HSBC's Head of US Large Corporate Banking. He joined HSBC in 2014 as Head of Northeast Corporate Banking and in early 2015 was named Co-Head of US Corporate Banking. Before that, he spent 26 years with JP Morgan Chase in various senior leader roles in Commercial and Corporate and Investment Banking.

Young added, "We continue to invest in our people, products and services in the US and I'm also personally delighted that we are able to develop local US talent within HSBC."

About HSBC Private Bank

As part of the HSBC Group, one of the world's largest banking and financial services organizations, HSBC Private Bank seeks to be the leading international private bank for business owners and their families. It provides clients with wealth, business and family succession solutions in the largest and fastest growing markets around the world. HSBC Private Bank is the marketing name for the private banking business conducted by the principal private banking subsidiaries of the HSBC Group.

For more information, visit www.hsbcprivatebank.com

About HSBC Bank USA, N.A.

HSBC Bank USA, National Association (HSBC Bank USA, N.A.), with total assets of US $183.1bn as of 31 December 2015 (US GAAP), serves 2.4 million customers through retail banking and wealth management, commercial banking, private banking, asset management, and global banking and markets segments. It operates more than 229 bank branches throughout the United States. There are over 145 in New York as well as branches in: California; Connecticut; Delaware; Washington, D.C.; Florida; Maryland; New Jersey; Pennsylvania; Virginia; and Washington. HSBC Bank USA, N.A. is the principal subsidiary of HSBC USA Inc., an indirect, wholly-owned subsidiary of HSBC North America Holdings Inc. HSBC Bank USA, N.A. is a member of the FDIC.

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