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MOMENTUM IN ABERDEEN DEALS MARKET LEADS TO HSBC EXPANDING CORPORATE TEAM

HSBC today (25 August 2011) announced the appointment of a new corporate banking manager to support businesses in the Aberdeen region. The appointment of Ivan Taylor comes as HSBC continues to capitalise on its growing reputation in the Aberdeen corporate market.

Ivan brings over 24 years banking experience to the Aberdeen corporate and structured banking team at a time when the bank is experiencing strong growth within the division, contributing to a 15% increase in corporate lending balances in the first half of 2011.

In his new role Ivan, who joins from Lloyds Bank Corporate Markets, will be responsible for managing and developing HSBC’s client portfolio and promoting the bank’s international strength to the many global players within the Aberdeen market.

Since the beginning of 2011, HSBC has benefited from a significant uplift in the Aberdeen deals market, which has resulted in several new business wins between its relationship and leverage finance team, including the Balmoral Group, Reservoir Group, Walker Technical Services and Proserve UK Limited.

HSBC’s international network has also contributed to the expansion of its client base over the last six months, with the Aberdeen team working with colleagues in overseas offices to facilitate the cross border banking requirements of global oil and gas clients.

The bank also recently revealed plans to invest £3.5 million in its Aberdeen operations, creating 26 new jobs, building Scotland’s largest HSBC branch in the city and upgrading the facilities at its existing Queens Road site, where it currently looks after its corporate and commercial customers.

Doug Baikie, Head of Corporate Banking for HSBC in Scotland, said:

“We’re delighted to have Ivan join our Aberdeen corporate team as our business goes from strength to strength. We’ve witnessed activity in the deals market increase over the past six months and are hugely encouraged by the momentum we’re building, with a strong pipeline and absolute focus in our approach.

“This momentum is a reflection of the continuing positive uplift in the oilfield services market, and we’re pleased to be supporting more global oil and gas companies than ever, using HSBC’s unrivalled international reach to support their global transactional needs.

“We’ve built a strong team over the past six years and Ivan’s experience will undoubtedly enhance our offering as we continue to expand the team and invest in our Aberdeen operations.”

Commenting on his appointment, Ivan Taylor said:

“HSBC enjoys an excellent reputation locally, and with their plans for further significant investment in Aberdeen, the opportunity to join the corporate team was one which appealed to me greatly.

“HSBC’s international capability offers a genuinely unique client proposition and this, coupled with balance sheet strength, means there is a real opportunity to support the many global players within the local marketplace.”

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