HSBC’s remaining businesses in upstate New York lost a major signpost when the bank sold its retail branch network in the region earlier this year. “The branch network gave us great visibility,” says Kevin Quinn, HSBC senior vice president and the new head of corporate banking for upstate New York. “I think what we learned […]
HSBC’s remaining businesses in upstate New York lost a major signpost when the bank sold its retail branch network in the region earlier this year.
“The branch network gave us great visibility,” says Kevin Quinn, HSBC senior vice president and the new head of corporate banking for upstate New York. “I think what we learned through the sale is we have an extremely loyal customer base. Our challenge going forward is making sure the market knows we’re still present.”
Buffalo–based First Niagara Bank acquired 195 HSBC branches in upstate New York and Connecticut in May. HSBC kept businesses like corporate middle-market banking, investment banking, and private banking and the bank still employs 3,000 people across the region.
HSBC has a commercial-banking office at 250 S. Clinton St. in Syracuse with a staff of 12. Worldwide, the bank has 6,900 offices in 84 countries and assets of more than $2.6 trillion.
Given HSBC’s international ties, Quinn says the bank can set itself apart in its upstate markets by focusing on companies with global ambitions.
“That’s where we think we can be a thought leader and where we think we can be a resource for the region,” Quinn says. “There’s been a great emphasis across the U.S. as well as in New York state on supporting further export development and growth.
“We’re ideally positioned because we have that international footprint. For any company with international aspirations, we think we stand at the forefront.”
Quinn, a native of Buffalo, will be based there in his new position. He succeeds Paul Cronin, who accepted a New York City–based senior leadership role with HSBC.
Quinn previously worked as senior vice president and regional commercial executive manager for upstate New York. He has 18 years of commercial-banking experience, serving large corporate and middle- market companies in a 14-state region in the Midwest, as well as the Canadian provinces of Ontario and Quebec.
Prior to banking, he practiced law in Cleveland, Ohio, with an emphasis on mergers and acquisitions, according to HSBC. He’s been with HSBC for seven years and back living in upstate New York for 18 years.
Quinn will be responsible for the Rochester, Syracuse, and Albany markets, in addition to Buffalo.
Demand for loans varies across industries in the region, but in general, the market remains soft, Quinn says. Uncertainty will likely continue until the U.S. presidential election passes.
Companies with business overseas are also concerned about the situation in Europe and Asia, Quinn notes.
Most firms continue to focus on lean and efficient operations, he adds. In some cases, they’re building substantial amounts of cash.
“Eventually, that cash needs to be deployed,” Quinn says.
Lately, he says he’s seen an uptick in mergers and acquisitions. All banks, including HSBC, are looking to grow loans, which makes for a competitive environment, he adds.
“We think we’re ideally positioned in the upstate region,” he says. “There are few organizations that have the international connectivity that HSBC has.”
Contact Tampone at ktampone@cnybj.com