HSBC Private Bank plans to open its first office in New Jersey this month.
The HSBC Holdings PLC division announced Wednesday that the office will be located in Morristown and staffed by two senior private bankers, Ihor Zwarycz and Christopher Zias, who joined HSBC in October as senior vice presidents. Both were senior private bankers with Citigroup Private Bank in its Short Hills office.
The office will serve wealthy individuals, family offices, privately owned businesses, and financial sponsors in the Middle Atlantic.
Mr. Zwarycz and Mr. Zias will provide clients access to HSBC Private Bank's capabilities in structured lending, investment management, fiduciary services — including trust and estate administration, and custody — and a broad array of banking and cash management services.
They will also maintain a Manhattan office at 452 Fifth Ave.
Patrick Campion, the chief executive of HSBC Private Bank, said in a press release that opening the New Jersey office is part of its strategy to expand "in the U.S. while maintaining our 'boutique' service approach."
