(April 4 – 15:15 ET) – HSBC Bank Canada has acquired Republic National Bank of New York (Canada) from Republic Overseas Banks Holding Corporation. This follows the acquisition of Republic New York Corporation and Safra Republic Holdings S.A. by HSBC Holdings plc on 31 December 1999.
Republic’s treasury operations and branches in Canada – two in Montreal and one in Toronto – have been amalgamated into HSBC Bank Canada.
“We have grown tremendously since our establishment in Vancouver in 1981 to become the largest international bank in the country. This acquisition is another important step in expanding our presence in central Canada. It significantly strengthens our private banking and mid-market commercial financial services and enhances our treasury operations and presence in Montreal. We also gain Republic’s talented and well-trained staff,” says Martin Glynn, president and chief executive officer of HSBC Bank Canada.
As of Dec. 31,1999, Republic National Bank of New York (Canada) had assets of C$1.4 billion. HSBC Bank Canada, an indirectly-held, wholly-owned subsidiary of HSBC Holdings plc, has more than 140 offices. With over 5,000 offices in 80 countries and territories and assets of C$821 billion at 31 December 1999, the HSBC Group is one of the world’s largest banking and financial services organizations.
-IE Staff
aHR0cHM6Ly93d3cuaW52ZXN0bWVudGV4ZWN1dGl2ZS5jb20vbmV3cy9pbmR1c3RyeS1uZXdzL2hzYmMtYmFuay1jYW5hZGEtYWNxdWlyZXMtcmVwdWJsaWMtbmF0aW9uYWwtYmFuay1vZi1uZXcteW9yay1jYW5hZGEv(U2NyZWVuSGVpZ2h0)NzIw(U2NyZWVuV2lkdGg)MTI4MA(T0ZTWVNfUmVmZXJyZXI)(dmlzaXRvcktleQ)THdMMENKOUY(dmlzaXRLZXk)UHdXN01GekM){kind=small}