Company Overview of HSBC Bank USA, N.A.
HSBC Bank USA, N.A. provides commercial banking products and services to individuals, corporations, institutions, and government agencies. It offers personal financial services, including installment and revolving term loans, deposits, branch services, mutual funds, investments, and insurance, as well as residential mortgage lending services through direct retail and wholesale origination channels. The company also provides private banking services for high net worth individuals and families, including deposits, tailored credit and banking, investment management, trust and estate administration, custody, and retirement services, as well as wealth and tax advisory, philanthropy, family office...
1800 Tysons Boulevard
Mclean, VA 22101
Founded in 1850
Key Executives for HSBC Bank USA, N.A.
Chief Financial Officer and Senior Executive Vice President
Head of Corporate Investments Banking & Markets (CIBM) for North America
Chief Executive Officer of HSBC North America
Chief Executive Officer of HSBC Securities
Executive Vice President and Regional President of Upstate Retail Banking
Compensation as of Fiscal Year 2014.
HSBC Bank USA, N.A. Key Developments
SPDR Gold Trust Engages HSBC Bank plc as Custodian in Place of HSBC Bank USA, National Association, with effect from December 22, 2014
Nov 21 14
On November 21, 2014, the effective date of December 22, 2014 was established for a novation agreement between HSBC Bank USA, National Association (the Outgoing Party), HSBC Bank plc (the Incoming Party) and The Bank of New York Mellon, as trustee (the Trustee) of the SPDR Gold Trust (the Trust). The Novation Agreement, among other things, replaces the Outgoing Party with the Incoming Party as a party to the First Amended and Restated Unallocated Bullion Account Agreement dated as of June 1, 2011 with the Trustee, and the Allocated Bullion Account Agreement dated as of June 1, 2011 with the Trustee, with the Incoming Party to have all of the rights and obligations of the Outgoing Party under such agreements. As a result of the Novation Agreement, the Incoming Party will become the custodian of the Trust's Gold.
HSBC Bank USA Faces Suit over Alleged Role in Sale of Death Bonds
Aug 26 14
HSBC Bank USA for $250 million over the lender's alleged role in SLS Capital's sale of so-called 'death bonds'. The complaint filed in the U.S. District Court in Manhattan alleged that the lender ignored signs of suspicious activity carried out by late British entrepreneur David Elias through Keydata Investment Services, an investment vehicle he controlled. HSBC served as a custodian of life insurance policies that backed bonds sold by SLS Capital, according to the suit. The bonds were falsely marketed as safe.
HSBC North America Holdings Inc., HSBC USA Inc. and HSBC Bank USA, N.A. Announces Executive Changes, Effective June 30, 2014
Jun 16 14
Patrick (Pat) Burke (52) has been appointed Executive Director of HSBC North America Holdings Inc., HSBC USA Inc. and HSBC Bank USA, N.A. with effect from 30 June 2014. Burke succeeds Irene Dorner (59), who will retire after a distinguished 32-year career at HSBC. Burke was appointed Chief Executive of HSBC Finance Corporation in 2010, assuming responsibility for winding down the legacy Household consumer finance business. Rhydian Cox (53) has been appointed xecutive Director of HSBC North America Holdings Inc., HSBC USA Inc., HSBC Bank USA, N. A with effect from 30 June 2014. Cox will report to the Chief Executive of HSBC US and to Marc Moses, Executive Director and Group Chief Risk Officer. Cox will chair a new US Remediation Committee which will drive the regulatory remediation of high-risk items, including significant control items. Cox was appointed Chief Risk Officer, Asia-Pacific in 2008. He joined the Group in 1984 and was appointed a Group General Manager in 2013.
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