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HSBC to stay in tower & atrium

By Joyce Kryszak


Buffalo, NY – After months of waiting for a decision, HSBC on Friday unexpectedly announced it will stay in the tower at One HSBC Center in downtown Buffalo - at least for now.

Bank officials said that HSBC is staying put until it makes big picture decisions for the Bank and its upstate network.

"Following an extensive evaluation process of our real estate needs, HSBC has determined our facilities meet our current needs for the time being, and we do not need alternative space," said spokesman Neil Brazil.

"We appreciate the interest and support our employees have shown, as well as the engagement of state and local officials throughout the evaluation process," said Brazil.

"It means we are not going to have a vacant tallest building in the city of Buffalo," said Buffalo Mayor Byron Brown.

Brown spoke with HSBC's USA president late Friday afternoon. He told reporters, for now, HSBC will remain in the tower and nearby atrium.

"So they are going to remain in the tower, which is a very good thing. I personally never wanted to see them leave the tower. They are going to remain in the atrium, and I think it is good news for people who work in the tower and work in the atrium," said Mayor Brown.

But the Mayor said the bank did not indicate how long they would stay.

City officials and local business leaders have worried that HSBC would vacate the 38-story tower, in favor of a new building and location. The move could have devastated real estate values downtown.

HSBC employs 2,220 people in the tower. The Bank has occupied the tower space for 40 years.