Private company

HSBC USA INC /MD/

HSBC USA INC /MD/ is an American national commercial bank based in New York.1

Last updated Oct 20, 2026.

Overview

  • IndustryNational Commercial Banks1
  • HeadquartersNew York, New York1
  • Incorporated inMD2
  • Business address66 Hudson Boulevard, New York, Ny 100012
  • Filer categoryNon-accelerated filer2

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HSBC Group's ambition is to be the most trusted bank globally, putting customers at the heart of everything it does. HSBC Group helps meet its customers' financial needs and support them to achieve their goals with its products and services, while navigating the complexities of the global market through its deep international network, supported with the stability and strength of its balance sheet.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

102.3%Operating margin4
26.7%Net margin4
9.9%Revenue growth, 20254
8.9%Return on equity4
1.85×Debt to equity4

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs66¢$2.7B
  • Income tax8¢$317.0M
  • Profit27¢$1.1B

Out of $4.1B in revenue.4

Financial statements

Revenue5674$4.1B in 2025+248% since 2019
0$2.0B$4.0B$6.0B2019: $1.2B$1.2B20192020: $1.1B$1.1B2020−8%2021: $3.9B$3.9B2021+257%2022: $3.5B$3.5B2022−10%2023: $3.3B$3.3B2023−6%2024: $3.7B$3.7B2024+13%2025: $4.1B$4.1B2025+10%
Operating income89674$4.2B in 2025+6% since 2019
0$2.0B$4.0B$6.0B2019: $4.0B$4.0B20192020: $3.7B$3.7B2020−6%2021: $3.3B$3.3B2021−10%2022: $3.7B$3.7B2022+10%2023: $3.4B$3.4B2023−8%2024: $3.8B$3.8B2024+13%2025: $4.2B$4.2B2025+11%
Net income89674$1.1B in 2025+874% since 2019
-$1.0B0$1.0B$2.0B2019: $113.0M$113.0M20192020: -$940.0M-$940.0M20202021: $688.0M$688.0M20212022: $548.0M$548.0M2022−20%2023: $393.0M$393.0M2023−28%2024: $825.0M$825.0M2024+110%2025: $1.1B$1.1B2025+33%
Fiscal year2019202020212022202320242025
Revenue$1.2B5$1.1B5$3.9B6$3.5B7$3.3B4$3.7B4$4.1B4
Operating income$4.0B8$3.7B9$3.3B6$3.7B7$3.4B4$3.8B4$4.2B4
Interest$2.9B8$1.4B9$592.0M6$1.8B6$5.3B6
Income before tax$912.0M6$725.0M7$488.0M4$1.0B4$1.4B4
Income tax$157.0M8-$42.0M9$224.0M6$177.0M7$95.0M4$222.0M4$317.0M4
Net income$113.0M8-$940.0M9$688.0M6$548.0M7$393.0M4$825.0M4$1.1B4

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What it owns

What HSBC USA INC /MD/ reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$101.0M4 Dec 31, 2025$91.0M4 Dec 31, 2024+11.0%
Accumulated depreciation$29.0M4 Dec 31, 2025$18.0M4 Dec 31, 2024+61.1%
Property and equipment, net$72.0M4 Dec 31, 2025$73.0M4 Dec 31, 2024−1.4%
Operating-lease assets (leased space)$481.0M4 Dec 31, 2025$521.0M4 Dec 31, 2024−7.7%

Investments

ItemLatestA year beforeChange
Loans, net of allowance$59.5B4 Dec 31, 2025$62.2B4 Dec 31, 2024−4.4%
Deposits held (banks)$124.1B4 Dec 31, 2025$123.3B4 Dec 31, 2024+0.6%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$458.0M4 Dec 31, 2025$458.0M4 Dec 31, 20240%

Properties, in its own words

The principal executive offices of HSBC USA and HSBC Bank USA are located at 66 Hudson Boulevard, New York, New York 10001. The main office of HSBC Bank USA is located at 1800 Tysons Blvd., Suite 50, Tysons, Virginia 22102. HSBC Bank USA had 21 wealth centers and 17 representative offices across the United States at December 31, 2025.

Item 2 of the 10-K filed Feb 25, 2026.3

Leadership

Who has led HSBC USA INC /MD/, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Sandra L. Derickson2006–2007
  2. Marlon Young2006
  3. Martin J. G. Glynn2007

Chair

  1. Brendan McDonagh2010

President

  1. Sandra L. Derickson2006–2007
  2. Martin J. G. Glynn2007

Chief financial officer

  1. Gerard Mattia2007–2014
  2. John J. McKenna2007
  3. Jon R. Bottorff2010–2012
  4. John T. McGinnis2014
  5. Mark Alan Zaeske2014

Chief operating officer

  1. Brendan McDonagh2006
  2. David Dew2008
  3. Eli Sinyak2012
  4. Gregory T. Zeeman2012–2014
  5. Vittorio M. Severino2014
2010201520202025
Board members and other officers (71)

Former names

  • REPUBLIC NEW YORK CORPMar 29, 1994 to Jan 4, 20002

Timeline

  1. May 1, 20268-K Bylaws or fiscal year changed96
  2. Dec 9, 20258-K Other events97
  3. Jan 9, 2007New chief executive Martin J. G. Glynn becomes CEO13
  4. Nov 2, 2006New chief executive Marlon Young becomes CEO15
  5. Sep 7, 2006New chief executive Sandra L. Derickson becomes CEO14

Filings

16,561 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 13 major events, 16,528 other. The latest 20:

  1. Oct 15, 2026424B2 PRICING SUPPLEMENT EDGAR
  2. Oct 15, 2026424B2 PRICING SUPPLEMENT EDGAR
  3. Oct 15, 2026424B2 PRICING SUPPLEMENT EDGAR
  4. Oct 15, 2026FWP FREE WRITING PROSPECTUS EDGAR
  5. Oct 15, 2026FWP FREE WRITING PROSPECTUS EDGAR
  6. Oct 15, 2026424B2 PRICING SUPPLEMENT EDGAR
  7. Oct 15, 2026424B2 PRICING SUPPLEMENT EDGAR
  8. Oct 15, 2026424B2 PRICING SUPPLEMENT EDGAR
  9. Oct 15, 2026424B2 PRICING SUPPLEMENT EDGAR
  10. Oct 15, 2026424B2 PRICING SUPPLEMENT EDGAR
  11. Oct 15, 2026424B2 PRICING SUPPLEMENT EDGAR
  12. Oct 15, 2026424B2 PRICING SUPPLEMENT EDGAR
  13. Oct 15, 2026424B2 PRICING SUPPLEMENT EDGAR
  14. Oct 15, 2026424B2 PRICING SUPPLEMENT EDGAR
  15. Oct 15, 2026FWP FREE WRITING PROSPECTUS EDGAR
  16. Oct 15, 2026FWP FREE WRITING PROSPECTUS EDGAR
  17. Oct 15, 2026FWP FREE WRITING PROSPECTUS EDGAR
  18. Oct 15, 2026FWP FREE WRITING PROSPECTUS EDGAR
  19. Oct 15, 2026FWP FREE WRITING PROSPECTUS EDGAR
  20. Oct 15, 2026FWP FREE WRITING PROSPECTUS EDGAR

The 16,561 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

SEC filer profile

How HSBC USA INC /MD/ is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARHSBC USA INC /MD/1
  • CIK0000083246
  • Employer ID (EIN)13-27648673
  • Filer statusNon-accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company3
  • Incorporated inMaryland3
  • Fiscal year endsDecember 311
  • Industry code (SIC)6021 National Commercial Banks1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business address66 Hudson Boulevard, New York, NY 100011
  • Phone212-525-50001
  • Shares outstanding714 as of Jul 31, 202612
  • Public float$0 as of Jun 30, 20254
  • AuditorPricewaterhouseCoopers LLP, New York, New York PCAOB ID 238; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceFeb 2, 19941
  • Filings35,673 in all: FWP (18,915), 424B2 (15,887), 8-K (149), 424B3 (126), 4 (121), 10-Q (98), 3 (91), 424B5 (68)1
    All 44 form types

    IRANNOTICE (55), 10-K (33), 8-A12B (16), 25-NSE (12), CERTNYS (11), S-3ASR (7), SC 13G (7), SC 13G/A (7), 11-K (6), DEF 14A (6), UPLOAD (6), CORRESP (5), 10-Q/A (3), 424B8 (3), 8-A12B/A (3), 8-K/A (3), ARS (3), POS AM (3), S-3/A (3), 3/A (2), 4/A (2), DEFR14A (2), S-3 (2), S-4 (2), S-4/A (2), S-8 POS (2), SC 13D (2), SC 13D/A (2), 10-K/A (1), 15-12B (1), 25 (1), 424B4 (1), DEFA14A (1), DEFM14A (1), POSASR (1), S-8 (1)

  • Latest filingsAnnual report (10-K) Feb 25, 2026
    Quarterly report (10-Q) Aug 4, 2026
    Proxy statement (DEF 14A) Mar 19, 1999
    Latest 8-K (8-K) May 1, 2026

Securities registered for trading

ClassSymbolExchange
$100,000,000 Zero Coupon Callable Accreting Notes due January 15, 2043HUSI/43New York Stock Exchange
$50,000,000 Zero Coupon Callable Accreting Notes due January 29, 2043HUSI/43ANew York Stock Exchange

From the cover page of the 10-K filed Feb 25, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks HSBC USA INC /MD/ names in Item 1A of its 10-K filed Feb 25, 2026: 35 risks under these headings, as written.3

  • Risks related to the Economy, Financial Markets and Interest Rates
  • Market and economic conditions will continue to affect our businesses, results of operations and financial condition.
  • Increased credit risk, including as a result of a deterioration in economic conditions, could require us to increase our provision for credit losses and allowance for credit losses and could have a material adverse effect on our results of operations and financial condition.
  • Federal Reserve Board policies can significantly affect business and economic conditions and, as a result, our financial results and condition.
  • Risks related to Regulation, Legislation and Litigation
  • Federal, state, local and other similar international measures to regulate the financial industry may significantly impact our operations.
  • Uncertainty surrounding the potential legal, regulatory and policy changes by the administration in the United States may directly impact financial institutions and the global economy.
  • Lawsuits and regulatory investigations and proceedings may continue and increase in the current economic and regulatory environment.
  • Regulatory requirements in the U.S. and in non-U.S. jurisdictions to facilitate the future orderly resolution of large financial institutions could negatively impact our business structures, activities and practices.
  • U.S. federal banking agencies may increase regulatory capital, TLAC, long-term debt or liquidity requirements which could require HSBC North America or HSBC Bank USA to issue additional qualifying securities or to take other actions, such as liquidate assets.
  • Failure to meet regulatory requirements and expectations regarding sales practices and incentive compensation programs could negatively impact us and our customers.
  • We are subject to tax-related risks.
The other 25 risks
  • Risks related to our Business, Operations, Governance and Internal Control Systems
  • Our reputation may have a direct impact on our financial results and ongoing operations.
  • Our risk management controls framework may not be successful.
  • The delivery of our priorities is subject to execution risk.
  • Failure to effectively implement our business strategies may adversely affect our financial performance.
  • We may be unable to meet our funding requirements due to deposit attrition or access to the capital markets.
  • We face significant and increasing competition in the rapidly evolving financial services industry.
  • Adverse changes in our credit ratings could have a material adverse effect on our borrowing costs and liquidity.
  • Concentrations of credit and market risk could increase the potential for significant losses.
  • Third parties may use us as a conduit for illegal activities without our knowledge, which could have a material adverse effect on us.
  • Operational risks are inherent in our businesses and may adversely impact our businesses and reputation.
  • Our operations are subject to risk of technology failure.
  • Our operations are subject to risk of cyberattacks.
  • Our operations are subject to risk relating to data, including consumer privacy rights.
  • Our operations are subject to third-party risk.
  • We are subject to financial and non-financial risks associated with ESG related matters, such as climate change, nature-related, and human rights issues, which may have a material adverse impact on our businesses, results of operations and financial condition.
  • We may suffer losses due to employee negligence, fraud or misconduct.
  • We may suffer losses due to negligence, fraud or misconduct by third parties.
  • Failure to successfully change our operational practices may have a material impact on our businesses.
  • We have exposure to counterparty risk and the financial condition of our clients and counterparties could adversely affect us.
  • Failure to appropriately address potential conflicts of interest can result in reputational harm, as well as litigation and enforcement actions.
  • We could incur losses or be required to hold additional capital as a result of model limitations or failure.
  • Key employees may be difficult to attract or retain.
  • Risks relating to our Financial Statements
  • Management projections, estimates and judgments based on historical performance may not be indicative of our future performance.
  • Our financial statements depend on our internal controls over financial reporting.
  • Changes in accounting standards are beyond our control and may have a material impact on how we report our financial results and condition.

Legal proceedings

See Note 26, "Litigation and Regulatory Matters," in the accompanying consolidated financial statements for our legal proceedings disclosure, which is incorporated herein by reference.

The opening of Item 3, Legal Proceedings.3

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    SEC EDGAROther events