HSBC USA Inc. ("HSBC USA"), incorporated under the laws of the State
of Maryland in 1973 as Republic New York Corporation, was acquired through a
series of transactions by HSBC Holdings plc. (“HSBC” and, together
with its subsidiaries, "HSBC Group") and changed its name to “HSBC
USA Inc.” in December 1999. HSBC USA is an indirect wholly-owned subsidiary
of HSBC North America Holdings Inc. ("HSBC North America"), which
is an indirect wholly-owned subsidiary of HSBC. HSBC USA’s principal business
is to act as a holding company for its subsidiaries.
HSBC North America is the holding company for HSBC Group’s operations
in the United States. The principal subsidiaries of HSBC North America at December
31, 2015 were HSBC USA, HSBC Markets (USA) Inc. ("HMUS"), a holding
company for certain global banking and markets subsidiaries, HSBC Finance Corporation
("HSBC Finance"), a holding company for the run-off consumer finance
operations, and HSBC Technology & Services (USA) Inc. ("HTSU"),
a provider of information technology and centralized operational and support
services including human resources, tax, finance, compliance, legal, corporate
affairs and other services shared among the subsidiaries of HSBC North America
and the HSBC Group. HSBC USA’s principal U.S. banking subsidiary is HSBC
Bank USA, National Association (together with its subsidiaries, "HSBC Bank
USA"). Under the oversight of HSBC North America, HUSI works with its affiliates
to maximize opportunities and efficiencies in HSBC Group’s operations
in the United States. These affiliates do so by providing each other with, among
other things, alternative sources of liquidity to fund operations and expertise
in specialized corporate functions and services such as through the pooling
of resources within HTSU to provide shared, allocated support functions to all
of HSBC North Americas subsidiaries. In addition, clients of HSBC Bank USA
and other affiliates are investors in debt and preferred securities issued by
HSBC USA and/or HSBC Bank USA, providing significant sources of liquidity and
capital to both entities. HSBC Securities (USA) Inc. ("HSI"), a registered
broker dealer and a subsidiary of HMUS, generally leads or participates as underwriter
of all HUSI domestic issuances of term debt. While neither HSBC USA nor HSBC
Bank USA has received advantaged pricing, the underwriting fees and commissions
paid to HSI historically have benefited the HSBC Group.
HSBCs strategy is to be the worlds leading international bank, maintaining
an international network to connect faster-growing and developed markets. HSBC
is a leading provider of transactional banking products which support global
economic flows and its network covers more than 85 percent of global trade and
capital flows, providing clients and investors access to what we believe are
the most attractive global growth opportunities. In support of HSBCs strategy,
our operations are focused on the core activities of our four global businesses
and the positioning of our activities towards international connectivity strategies,
including what we believe are our unique capabilities to serve clients in the
North American Free Trade Agreement trade corridor.
Our Retail Banking and Wealth Management business focuses on internationally
minded clients in large metropolitan centers on the West and East coasts.
Our Commercial Banking business is focused on five hubs through which over 50
percent of U.S. corporate imports and exports occur, namely California, Florida,
Illinois, New York and Texas.
Our Global Banking and Markets businesses serve top-tier multinational clients
across the Americas and globally through Global Bankings sector-focused advisory
and relationship management teams, with Capital Financing providing U.S. dollar
funding along with other financing products and services, and Global Markets
offering a wide range of products across Fixed Income, Foreign Exchange and
Equities.
Our Private Bank business serves high net worth and ultra-high net worth individuals
and their families with a focus on multi-generational families, business owners
and entrepreneurs who require sophisticated solutions to help meet their most
complex needs domestically and abroad.
HSBC Bank USA, HSBC USA’s principal U.S. banking subsidiary, is a national
banking association with its main office in McLean, Virginia, and its principal
executive offices at 452 Fifth Avenue, New York, New York. Through HSBC Bank
USA, we offer our customers a full range of commercial and consumer banking
products and related financial services. Our customers include individuals,
including high net worth and ultra-high net worth individuals, small businesses,
corporations, institutions and governments. HSBC Bank USA is also an international
dealer in derivative instruments denominated in U.S. dollars and other currencies,
focusing on structuring transactions to meet clients’ needs.
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