PARSIPPANY, NJ-HSBC already has more than 400 bank branches in neighboring New York, and it's set for a full-court press to establish its New Jersey presence. The institution recently opened its first Garden State branch in Hillside, and is looking to open six to eight more over the next six months. Potential locations include Fort Lee, Englewood, Hoboken, Parsippany, Millburn, Westfield and Jersey City.

HSBC has also established its New Jersey headquarters office here. The location houses district execs and a variety of other staff. "With our strong presence in Metro New York, New Jersey is a natural place for HSBC to continue its US expansion," says Martin Glynn, president and CEO of HSBC Bank USA.

Besides actual day-to-day branch operations, the move has implications for the lending side of the business. A commercial and real estate lending staff is already in place in the local office, and HSBC, a Small Business Administration lender, plans to provide those services as well. "We are already the number four SBA lender in the state before having a single branch here," says Seamus McMahon, president of HSBC's Atlantic region, which includes New Jersey, Pennsylvania, Washington, DC Delaware and Florida.