Glynn headed HSBC of USA

HSBC Bank Canada president Martin Glynn will leave the bank to become the new president and chief executive officer of HSBC Bank USA in New York, effective next month.

Lindsay Gordon, currently chief operating officer of HSBC Bank Canada, will become the new president of the Vancouver-based bank.

The moves are part of a series of executive appointments announced Friday by the global HSBC organization.

Glynn, 51, has headed HSBC Bank Canada since December 1999 and said he is proud of the way the bank dealt with some difficult economic circumstances in recent years, with a slowing North American economy and corporate-governance scandals at companies such as Enron.

"There were some stormy waters over the past couple of years and we weathered those situations relatively well and maintained the upward momentum of the bank," he said in an interview.

HSBC Bank Canada, the largest foreign-owned bank in Canada, reported record earnings of $260 million last year and posted earnings of $146 million for the first six months of 2003. The bank has more than 160 offices across Canada and more than $36 billion in total assets.

Glynn said HSBC has more than 50,000 employees in North America and his mandate in New York is to grow the business as much as possible.

HSBC Bank USA has more than 400 branches in New York state and another 33 branches in Florida, Pennsylvania, California, Washington state, Oregon and Panama. The bank reported net earnings of $527 million US during the first six months this year and total assets of $93 billion US.

Glynn will succeed Youssef Nasr, 48, as head of HSBC's U.S. operations. Nasr, who formerly headed HSBC Bank Canada, becomes the new president of HSBC Bank Brasil.

Current HSBC Bank Brasil president Michael Geoghegan, 49, will become the new chief executive officer of the U.K.-based parent company -- HSBC Bank plc -- when he replaces William Dalton in January.

Dalton, a 59-year-old Vancouver native and former head of HSBC Bank Canada, will retire next year.

Gordon, 51, will move to Vancouver from Toronto to become the new HSBC Bank Canada president next month. He joined the organization in 1987 and has held a variety of senior positions in both cities, spending the past four years as chief operating officer.   - by Bruce Constantineau     Vancouver Sun   27 Sept 2003

Martin Glynn has been named chief operating officer of HSBC North America Inc., making him the most senior of the bank's executives resident in Canada.

Glynn, based in Vancouver, will continue as president and chief executive officer of HSBC Bank Canada and now will have added responsibility for the North American commercial and retail banking, insurance, and corporate and institutional banking businesses of HSBC.

Glynn, who holds a BA from Carleton University and an MBA from University of B.C., has enjoyed a successful climb through the bank's executive ranks since joining joined HSBC in 1982.

After holding several executive positions he was named president and chief executive officer of HSBC Bank Canada, headquartered in Vancouver in 1999.

He also serves as a director of HSBC Bank Canada, HSBC Bank USA, Wells Fargo HSBC Trade Bank, NA , Husky Energy Inc. and is chairman of HSBC Canadian Direct Insurance Inc.

Glynn also plays a prominent public role outside of the bank. He is a governor of UBC and a director and immediate past chair of the Canadian Chamber of Commerce.

HSBC North America Inc. is a subsidiary of HSBC Holdings plc, which is headquartered in London and is one of the largest banking and financial institutions in the world.

It has over 7,000 offices in 81 countries and territories and assets of $696 billion US.

In North America it has three principal subsidiaries: HSBC Bank Canada, HSBC USA Inc. and hsbc.com.   - by Ashley Ford     Province   12 March 2002


HSBC to create cross-border bank operation

Vancouver-based HSBC Bank Canada and HSBC USA Inc. will join forces to create a North American banking operation that will strive to become the continent's premier cross-border bank, HSBC Bank Canada president Martin Glynn said Friday.

The two banks remain separate entities but will work together under a holding company that owns the U.S. and Canadian operations -- HSBC North America Inc.

Glynn becomes chief operating officer of HSBC North America, responsible for North American commercial and retail banking, insurance and corporate and institutional banking. He remains president of HSBC Bank Canada, based in Vancouver.

He said HSBC's 430 U.S. branches and other "customer-facing" businesses will report to him.

Glynn will report to HSBC North America chief executive Youssef Nasr, who also remains chief executive of HSBC USA.

"This is not about retrenchment in any way," Glynn said in an interview. "It's all about growing and being able to take advantage of each other's strengths."

HSBC USA has $140 billion in assets and 430 branches, mainly in New York state. HSBC Bank Canada has $34 billion in assets and 118 branches across Canada.

"Customers want a seamless North American delivery of services because they consider it one economy," Glynn said. "That requires a North American platform."

He also said joining forces will help the two organizations achieve certain economies of scale, while providing more opportunities for career development for bank employees.

"The two banks will grow together faster than we could have on our own," Glynn said.

He said the new North American alignment is not the first step towards the creation of one North American bank that would replace the existing banks. So there will be no HSBC North America brand and no HSBC North America branches.   by Bruce Constantineau   Vancouver Sun   9 March 2002

 

 


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