HSBC Private Bank Ireland official launch

11 April 2008

Group CEO Michael Geoghegan welcomed 320 private banking prospects, clients and intermediaries to the launch party for our new office in Ireland last night. The party was held at the historic Mansion House in central Dublin and was deemed a huge success by all. Rory Quinlan, Head of HSBC Private Bank Ireland, said today that: "The immediate feedback from clients has been overwhelmingly positive".

Commenting on the launch of the new office in Ireland, Michael Geoghegan said: "HSBC's push into private banking reflects the phenomenal increase in personal and business wealth that Ireland has experienced over the past few years. We're building capacity here to meet increasing demand for international wealth management services that offer best-in-class investment solutions."

Irish per capita wealth currently stands at €196,000, second highest in the OECD. In 2007 there were an estimated 33,000 Euro millionaires in Ireland, a rise of 3,000 on the previous year.

Highlighting our local expertise, Rory said: "We have an experienced team of advisors who have all worked in private banking at a high level. Their domestic experience coupled with HSBC's global reach makes a compelling combination for our clients."

HSBC Group press release