Office address: 66 Hudson Boulevard East, New York, NY 10001
Website: us.hsbc.com
Year established: 1875
Company type: banking
Employees: 2,180+ (US)
Expertise: retail banking, wealth management, investment banking, corporate banking, international banking, trade finance, insurance, treasury services, liquidity management, alternative investments
Parent company: HSBC Holdings
Key people: Jason Henderson (interim CEO), Racquel Oden (division head), Andrew Fullam (CFO), Sara Dodds (COO), Lloyd Plenty (chief risk officer), Christine Calarco (interim chief compliance officer), Marie Minardo (chief audit officer)
Financing status: corporation
HSBC is a major banking institution based in New York. The bank offers retail banking, wealth management, and investment services across the US. The company is known for its international reach and strong presence in key American cities.
HSBC’s story in the United States began in 1875 with its first office in San Francisco. The bank then expanded to New York City to focus on trade finance for growing markets.
The company’s origins reach back to 1865, when it launched operations in Hong Kong, followed soon after by an office in Shanghai.
By 1955, the San Francisco office became The Hongkong and Shanghai Banking Corporation of California. This new subsidiary built a small network of branches and kept its focus on trade.
In 1980, the firm made a bold move by acquiring a majority stake in Marine Midland Bank. Seven years later, HSBC completed the takeover, which helped the bank reach more clients across the country.
The year 1999 marked another turning point. Marine Midland Bank was renamed HSBC Bank USA, and HSBC Holdings plc made its debut on the NYSE. That same year, the group acquired Republic New York Corporation which strengthened its presence in the US financial market.
To align more closely with its Wall Street peers, HSBC Holdings plc reorganized its investment operations in 2024. This move signaled a new era in the financial capital of the world. It also moved its US headquarters to The Spiral in New York City.
That year, the firm also set new targets to reduce the carbon footprint of its capital markets business. The group became one of the first banks to include emissions from capital markets activities in its annual disclosures.
HSBC provides investment products in the US, focusing on global access and tailored solutions for clients:
HSBC is recognized for its global network and expertise in cross-border banking. Clients have access to broad support for personal and business finances.
HSBC states that its purpose is to open up opportunities and support an inclusive workplace. Its values include:
The firm says that it promotes flexibility, learning, and collaboration to help employees do their best work. HSBC lists these benefits for its employees:
HSBC in the US views diversity and inclusion as key strengths for its workforce and business. The company says that unique contributions from employees, customers, and suppliers help drive its strategy and growth.
Jason Henderson became interim US CEO and head of banking at HSBC in 2025. Before this, Henderson held senior roles at RBC Capital Markets, including managing director positions in Europe and foreign exchange. He graduated from Queen’s University.
The US Operating Committee at HSBC includes leaders with deep expertise and global experience:
This committee is responsible for guiding HSBC’s US strategy and managing core areas including finance, operations, risk, compliance, and audit.
HSBC issued a report in 2025 that downgraded BofA, Goldman Sachs, and JPMorgan due to concerns about rising risks in the market. The company made this call because it found that recent bank stock rallies may not reflect future risks.
The firm pointed out concerns about economic uncertainty and possible interest rate cuts ahead. HSBC's analysis suggests investors should be cautious as these factors could affect bank stock performance going forward.
On another note, the firm decided to set aside $1.1 billion after a Luxembourg court ruled against the bank in a major Madoff case. This provision showed its responsibility to address past legal risks and protect its financial health. The outcome would influence how the company managed future challenges and maintained client trust during its business restructuring.
PE firm Motive Partners is acquiring 60% stake, while the unit's current president, Cheryl Nash, will lead a newly formed joint venture.
The two advisers joined the firm in San Francisco and New York.
The advisers will fill a service gap between the firm's purely digital, self-directed robo-adviser and the full-service advisers of Merrill Lynch.
Vanguard still dominates the market, but Aite Group expects increased growth among banks and discount brokerages.
Clients and banks say women bankers have the skills required by high-net worth clients
CEO Sergio Ermotti says bank will prioritize protection of its dividends.
Penalties dwarf what bank set aside for legal issues and exceed earnings for all of last year.
An acquittal would undercut PNF credibility because of large fines requested.
An explosion in wealth in the wake of the financial crisis has banks targeting the growing ranks of super rich.
Swiss bank could face billions of dollars in fines from French and US authorities.
Fintech firm now helping advisers with many office functions beyond digital advice.
The bank sees the technology, built in partnership with Marstone, as the key to its U.S. growth strategy.
Gold, a traditional safe haven, has declined in recent months, damaged by the strengthening dollar.
Move reportedly involves only relatively small international accounts.
