Wells Fargo HSBC Trade Bank Names Lynn Durning to Head New Chicago Office
March 28 2005 - 10:00AM
PR Newswire (US)
Wells Fargo HSBC Trade Bank Names Lynn Durning to Head New Chicago
Office Nation's Only Separately Chartered Bank Exclusively
Dedicated to International Trade Finance Celebrates 10th Year
CHICAGO, March 28 /PRNewswire-FirstCall/ -- Wells Fargo HSBC Trade
Bank (The Trade Bank) begins its tenth year announcing the opening
of its newest office today in Chicago. New Regional Vice President
Lynn Durning has been named to head up the new location at 230 West
Monroe Street, Suite 2900. The addition of a Chicago office makes a
total of 12 for the joint venture combining Wells Fargo's breadth
of financial services with HSBC's extensive network of
international locations. The Trade Bank delivers financing
solutions and payments expertise to middle market companies engaged
in international trade and is the only nationally chartered bank
exclusively dedicated to this purpose. "We understand this vital
market, and we're seeing a definite growth in the need for our
import-export expertise in Chicago and throughout the region," said
Durning. " Our new Chicago office positions us to provide financial
services locally to companies in the greater Midwest that are
engaged in international commerce." The Trade Bank -- one of "The
Major Trade Banks" according to World Trade magazine (April 2004)
-- helps local companies increase international sales while
reducing risk, accelerating cash flow and improving operating
margins. Using Wells Fargo's industry-leading Commercial Electronic
Office(R) Business Portal, The Trade Bank delivers extensive trade
services, cash management and international treasury services to
its customers online. It also brings its customers local market
knowledge through the HSBC network covering 77 countries and
territories. About Wells Fargo Wells Fargo & Company is a
diversified financial services company with $428 billion in assets,
providing banking, insurance, investments, mortgage and consumer
finance to more than 23 million customers from more than 6,000
stores and the Internet (wellsfargo.com) across North America and
elsewhere internationally. Wells Fargo Bank, N.A. is the only bank
in the United States to receive the highest possible credit rating,
"Aaa," from Moody's Investors Service. The HSBC Group HSBC Holdings
plc, the holding company for the HSBC Group, is headquartered in
the UK. HSBC Group serves over 110 million customers worldwide from
over 9,800 offices in 77 countries territories in Europe, the
Asia-Pacific region, the Americas, the Middle East and Africa. With
US$1,277 billion at 31 December 2004, the HSBC Group is one of the
world's largest banking financial services organizations. HSBC is
marketed worldwide as 'the world's local bank'. DATASOURCE: Wells
Fargo & Company CONTACT: media, Susan Stanley of Wells Fargo,
+1-415-947-3994 Web site: http://www.wellsfargo.com/
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