Management Changes at HSBC Bank USA N.A.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Paul Lawrence has been appointed president and chief executive officer of HSBC Bank USA HSBC Bank USA, N.A., the United States subsidiary of the HSBC Holdings plc, is a bank with its head office in New York City. History The Hongkong and Shanghai Banking Corporation acquired a 51% shareholding in Marine Midland Bank of New York State, headquartered in , N.A. and HSBC HSBC Hongkong and Shanghai Banking Corporation HSBC Humane Society of Broward County (Florida) HSBC Humane Society of Bay County (Bay County, Michigan) USA Inc. effective immediately. He succeeds Sandy Derickson, who is leaving the HSBC Group. Lawrence, currently head of Corporate, Investment Banking and Markets (CIBM CIBM Corporate, Investment Banking and Markets CIBM Centre d'Imagerie BioMédicale CIBM Could It Be Magic ), North America, will retain that role and have dual reporting lines to Michael Geoghegan, Group CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and Stuart Gulliver, head of CIBM and Group Investment businesses globally. Lawrence joined HSBC in 1982 as an executive trainee. He has held positions in the United Kingdom and Hong Kong, as well as acting as a credit manager for two years for the then Marine Midland Bank Marine Midland Bank was a bank formerly headquartered in Buffalo with several hundred branches throughout the state of New York. The Hongkong and Shanghai Banking Corporation acquired a 51% shareholding in Marine Midland Bank in 1980 and extended to full ownership in 1987. in New York, beginning in 1985. Lawrence was appointed CEO of HSBC in the Philippines in 1999 and CEO of HSBC Singapore in 2002, and was named a Group general manager in August 2005. Derickson joined Household International (now HSBC Finance Corporation) in September 2000 as managing director and CEO of the company's retail services business. Prior to joining HSBC, Derickson spent 24 years at GE Capital. She was promoted to group executive at HSBC Finance Corporation in 2002 and to vice chairman in April 2004. Derickson said: "In light of the management changes at HSBC, I have decided that this is a good time for me to take a long-desired break from work so that I have more time for my own interests and my family." Commenting on Derickson's departure, Paul Lawrence said: "We appreciate all that Sandy has done for HSBC and respect her desire for more time with her family. We wish her well." |
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