HSBC upbeat at £2.8m transfer
Sep 19 2008 by Peter McCusker, The Journal
BANKING giant HSBC showed confidence in the North East economy with the opening of its new commercial banking headquarters for the North East last night.
Despite the tumult in the rest of the UK banking system, Europe’s biggest bank kept the mood upbeat at a launch of the £2.8m centre in Team Valley in Gateshead.
The move will see the 90 staff at the current commercial base on Newcastle’s Grey Street shift to the smart new centre on Maingate. The Grey Street retail banking operation will remain open and expand into the offices vacated by the commercial operation.
The new centre will include conference rooms and interview suites as well as cash points and an over the counter service for residents of Dunston and Whickham and the 740 businesses and 22,000 staff in the Team Valley.
The move, which has long been planned, showed the bank’s confidence in the growth of the North East economy, said regional commercial director Allan Wilkinson.
“The North East is performing very well, particularly in the oil and gas sector and in manufacturing. We are confident we can expand our business and are particularly looking for customers who wish to expand their businesses internationally.”
His confidence was echoed by Steve Bottomley, HSBC’s head of commercial banking.
“There is clearly a slow down but we are approaching it from a position of strength. Our share prices have only gone down five per cent compared with rather greater falls in some of our competitors.
“We want to show we are committed to Newcastle, there may be a slowdown but there are also clear opportunities for growth.”
Tom Leech, HSBC’s head of corporate banking for the North East, said: “This move is not only good for HSBC and our customers but for the whole Tyne and Wear business community.
“The facilities we can now offer are second to none, and coupled with our wide ranging banking expertise will allow us to help all our customers achieve business success in the region, the UK and internationally.”
