HSBC Appoints Burak As General Counsel

NEW YORK--(BUSINESS WIRE)--April 6, 2004--HSBC Bank USA today announced that it has appointed Janet L. Burak, to be a senior executive vice president and its general counsel and corporate secretary, effective April 1, 2004. She holds the same title and position for HSBC's US bank holding company, HSBC USA Inc. Burak is based in HSBC's New York City office and report to Kenneth H. Robin, senior executive vice president, general counsel and corporate secretary, HSBC North America Holdings Inc. as well as to Martin Glynn, president and CEO, HSBC Bank USA.

"We're delighted that Janet has agreed to take on this important role within the bank," said Robin. "She has done an outstanding job as group general counsel at Household and this is an opportunity for another part of our organization to benefit from her expertise and leadership."

“She has done an outstanding job as group general counsel at Household and this is an opportunity for another part of our organization to benefit from her expertise and leadership.”

In her new role, Burak is responsible for the bank's legal department, which has offices in Buffalo and New York City, as well as for the legal department of its affiliate, HSBC Securities (USA) Inc. She is a member of the bank's senior management committee. Her US federal regulatory responsibilities will expand to include all of HSBC North America's US subsidiaries. Burak will continue to serve as assistant general counsel-regulatory, HSBC North America Holdings, Inc.

Previously, Burak was group general counsel, Household International, with responsibility for the legal functions of Household credit card services, auto lending, UK and Canadian businesses, as well as for Household's federal regulatory coordination and compliance function. She was also general counsel of credit card services, where her responsibilities include providing legal advice to the credit card business, drafting and negotiating acquisitions, partnerships and vendor agreements, providing general corporate advice and interfacing with federal banking regulators.

Burak began her career at Household in 1992 as general counsel for Household Bank, f.s.b. Prior to joining Household, Burak worked as an associate at the law firm of Shearman and Sterling in New York from 1988 to 1992. She was a vice president-legal at Citicorp in New York from 1981 to 1988.

Burak is admitted to the Illinois, New Jersey and New York bars and is a member of the American Bar Association. She received a bachelor's degree in political science from Franklin & Marshall College and her juris doctor from New York Law School.

About HSBC Bank USA

HSBC Bank USA has more than 400 branches in New York State, giving it the most extensive branch network in New York. The bank also has 10 branches in Florida, one in Pennsylvania, five in California, one in Washington, one in Oregon, and 15 in Panama. It is the principal subsidiary of HSBC USA Inc, an indirectly-held, wholly-owned subsidiary of HSBC North America Holdings Inc., one of the nation's top 10 bank holding companies by assets. The HSBC Group, headquartered in London, has over 9,500 offices in 79 countries and territories and is one of the world's largest banking and financial services organizations. For more information about HSBC Bank USA and its products and services visit www.us.hsbc.com.