HSBC Bank Announces Plans to Expand National Retail Network
June 17 2019 - 9:00AM
Business Wire
Launch in Cupertino, California is the first of
up to 50 new branches planned for existing and new markets; plans
to hire more than 300 employees
HSBC Bank USA, N.A., (HSBC), part of HSBC Group, one of the
world’s largest banking and financial services organizations, today
announced that it has opened a new branch office in Cupertino,
California, at 19900 Vallco Parkway. The bank plans to add
significantly to its national retail branch network by opening up
to 50 branches in new and existing markets and hiring more than 300
employees, giving more customers access to its retail and business
banking services while offering jobs to local residents.
“Retail branches are important and will continue to maintain a
prevalent role in acquiring, retaining and serving customers,” said
Pablo Sanchez, HSBC’s Head of Retail Banking and Wealth Management
for North America. “While our digital capabilities and self-service
channels continue to grow and improve, our network of neighborhood
branches still attracts most of our new customers and strengthens
our relationship with existing customers in need of additional
financial services. This expansion provides us an opportunity to
serve more customers and small businesses in communities across the
country.”
HSBC is optimizing its existing network to right-size and grow
its business as well as expand its footprint into new and existing
markets that provide attractive opportunities to grow its customer
base, particularly in the ex-pat communities in America’s most
global metropolitan markets.
Anthony Glover, US Head of Retail Banking for HSBC, said, “We’re
taking a targeted approach in investing in branches that function
as advice centers to continue to build our best-in-class
international value proposition, which includes servicing
international execs, expats, immigrants and foreign students, while
taking a hard look at expanding to major markets like Houston and
Chicago.”
HSBC’s new and optimized branches are designed to include modern
design elements. They feature flexible, open and collaborative
spaces with ample room for meetings, customer lounges and internet
bars as well as digital signage and touchscreens.
Expanded Offerings
“Through an ambitious transformation initiative, we recently
launched a new suite of credit cards, significantly expanded our
retail business banking offering and improved our digital and
customer experience to grow our customer base,” said Sanchez.
“We’re also continuing to build out our unsecured portfolio.”
Announcements over the last 12 months include:
- A partnership with Amount, the
end-to-end technology platform of industry-leading online lender
Avant, to meet the borrowing needs of its customers. The new
digital lending platform will give US consumers, including existing
HSBC customers, a simple way to apply for personal loans
online.
- A partnership with Marstone, Inc., a
leading digital wealth management platform, to develop HSBC Wealth
Track, a Software Based Investment Advice platform that enables
clients to instantly create a diversified portfolio at a low cost
for both retirement and non-retirement accounts.
- The launch of the HSBC Financial
Wellness Center powered by EVERFI, a leading education technology
company. This interactive online platform features a series of
engaging modules focused on financial literacy topics such as
buying a home, planning for higher education and building
credit.
- In a first-of-its-kind pilot, we rolled
out customized Samsung Gear S3 smartwatches to HSBC branch
employees. The watches enhance customer service by making in-branch
communications more seamless and efficient between team
members.
As part of our branch expansion, approximately 40 percent of the
new branches will be in low- to moderate-income communities. The
firm will also work with local community partners to support
inclusive economic growth, including jobs and skills training,
small business growth, neighborhood revitalization and financial
literacy.
HSBC previously confirmed plans to open a branch in Depew, New
York, at a site adjacent to the bank’s operations and customer
service center. Further expansion in Western New York is being
strongly considered, given HSBC’s long-standing relationships with
many local businesses and a local workforce of around 3,000 in the
Buffalo region.
HSBC will begin opening new branches in the above locations
starting this summer. To check for updates or to learn more about
HSBC’s branches, products and services, please visit
https://www.us.hsbc.com.
HSBC Bank USA, National Association (HSBC Bank USA, N.A.)
serves customers through retail banking and wealth management,
commercial banking, private banking, and global banking and markets
segments. It operates bank branches in: California; Connecticut;
Washington, D.C.; Florida; Maryland; New Jersey; New York;
Pennsylvania; Virginia; and Washington. HSBC Bank USA, N.A. is the
principal subsidiary of HSBC USA Inc., a wholly-owned subsidiary of
HSBC North America Holdings Inc. HSBC Bank USA, N.A. is a Member of
FDIC. Investment and brokerage services are provided through HSBC
Securities (USA) Inc., (Member NYSE/FINRA/SIPC) and insurance
products are provided through HSBC Insurance Agency (USA) Inc.
HSBC Holdings plc, the parent company of the HSBC Group,
is headquartered in London. The Group serves customers worldwide
across 66 countries and territories in Europe, Asia, North and
Latin America, and the Middle East and North Africa. With assets of
$2,659bn at 31 March 2019, HSBC is one of the world’s largest
banking and financial services organisations.
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Media:Matt Klein+1 212 525 4644matt.klein@us.hsbc.com
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