HSBC to Relocate Offices Leading Firm Wants to Stay Northwest

By Comerford, Mike; Patterson, Kwame | Daily Herald (Arlington Heights, IL), July 13, 2005 | Go to article overview
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HSBC to Relocate Offices Leading Firm Wants to Stay Northwest


Comerford, Mike, Patterson, Kwame, Daily Herald (Arlington Heights, IL)


Byline: Mike Comerford and Kwame Patterson Daily Herald Staff Writers

HSBC North America Holdings on Tuesday said it plans to announce a headquarters move by year's end, aiming to combine Mount Prospect and Prospect Heights operations at a yet-to-be selected site in the Northwest suburbs.

The subsidiary of London-based HSBC Holdings Plc., long has been a business landmark in Prospect Heights. Now, the consumer lending company says it wants to relocate to nearby Northwest suburbs in order to stay close to where its employees have been working.

"We have about a half dozen sites already in mind close to Prospect Heights," said Rahsaan Johnson, HSBC North America spokesman. "But if a good viable option in Prospect Heights becomes available we'll look at that, too."

Its Prospect Heights headquarters is a sprawling 400,000-square- foot, two-building complex. Formerly known as Household Finance, the firm first arrived in Prospect Heights in 1978. It employs 1,350 in Prospect Heights and more than 600 in Mount Prospect. In all, it employs 6,100 in the Chicago area.

"They'll be missed," said Darlene Ahlstedt, who represents the 5th Ward in Prospect Heights.

The company, which was bought by HSBC Holdings Plc. in 2003, said it wants to consolidate its two Mount Prospect sites with its Prospect Heights operations at a single facility. The unified facility would employ about 2,000 workers, according to the company.

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