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Originally Posted by guynvb
Great to hear for Buffalo! Does HSBC still have a large headquarters there?
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HSBC has downsized significantly. HSBC got caught in a terrorism laundering scheme some time ago, and it encouraged the company to sell its retail banking in the US. They've divested and sold their retail banking operations; however, they still maintain a commercial and investment bank presence HQ'ed in NYC. There are significant offices still in Buffalo; however, they've abandoned the highrise they once occupied and now reside exclusively in a smaller building one block south of the former tower.
HSBC USA is no longer HQ'ed in Buffalo, but it has significant back-offices and operations for what is left of the bank here. Since they are no longer in retail, they mostly serve high end commercial and investor clients. They still operate a huge credit card business in the states.