HSBC Global Private Banking, Americas has unveiled plans to increase its footprint in the West Coast by expanding operations into Seattle.
The Seattle office will work with the bank’s local commercial and retail banking and wealth management teams in order to serve its increasing number of wealthy clients in the area.
The expansion into Seattle particularly aims to serve a growing inflow of affluent individuals and families to the US from Asia, HSBC said.
The new office will be headed by the market head for the west region Mark Pittsey, who will be responsible for recruitment of employees such as relationship managers, investment counsellors as well as support staff.
Commenting on the expansion, HSBC Global Private Banking Americas head Joe Abruzzo said: “Seattle’s robust local economy, number of large corporates, and growing entrepreneurial scene presents a tremendous opportunity to bring the benefits of HSBC to local high net worth and ultra-high net worth individuals and families.”