HSBC Holdings PLC, the U.K.-based international banking company, has decided that all operating units will have HSBC in their names.
Its $33 billion-asset Marine Midland Bank, based in Buffalo, will probably become HSBCBankUSA after U.S. regulatory approval, the company said.
Other units, such as London-based Midland Bank PLC, Hong Kong Bank of Canada, and British Bank of the Middle East, will also use the letters HSBC, which stand for Hongkong and Shanghai Banking Corp.
HSBC has traditionally retained the names of well-known banks it acquired around the world. Recently, however, it has begun moving to add HSBC to newly acquired units, such as Argentina's Banco Roberts and Brazil's Banco Bamerindus.
The globalization of banking and marketing and the growth in telecommunications and travel has made a worldwide brand necessary, HSBC said.