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.
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