Duval re­places Quinn as HSBC’s top lo­cal ex­ec­u­tive

The Buffalo News - - BUSINESS - – Matt Glynn Em­pire Emer­gency breaks ground for ex­pan­sion – Thomas J. Pro­haska – Thomas J. Pro­haska

HSBC Bank USA has made a change in its top Buf­falo-based lead­er­ship role, and re­duced the size of the ter­ri­tory over­seen by that role.

Greg Duval is the head of the bank’s newly cre­ated Great Lakes re­gion, en­com­pass­ing up­state New York, Ohio, Michi­gan and Ver­mont. Kevin Quinn was for­merly the top Buf­falo-based ex­ec­u­tive, serv­ing as man­ag­ing di­rec­tor and head of cor­po­rate for the bank’s up­state New York and cor­po­rate re­gion.

“We thank Kevin for help­ing tran­si­tion the or­ga­ni­za­tion over the com­ing weeks, and for his many con­tri­bu­tions to HSBC and the Buf­falo com­mu­nity on be­half of HSBC,” said Rob Sher­man, an HSBC spokesman. “Western New York and the Great Lakes re­gion are crit­i­cal to HSBC USA’s growth strat­egy, and un­der Greg’s lead­er­ship we will be well po­si­tioned to ex­pand our pres­ence in these mar­kets.”

Duval, a Buf­falo na­tive, worked for M&T Bank be­fore join­ing HSBC in 2007. He took a job with JPMor­gan Chase in 2016, be­fore re­turn­ing to HSBC about a year ago. Duval earned his MBA at the Univer­sity at Buf­falo.

Sher­man said HSBC’s re­struc­tur­ing won’t im­pact the bank’s em­ploy­ment in the Buf­falo area. HSBC has about 3,000 em­ploy­ees be­tween its lo­ca­tions at the down­town Atrium and in Depew. “It’s a change in the re­gional struc­ture, which makes Western New York part of a smaller re­gion called Great Lakes,” he said. “Es­sen­tially Western New York be­comes a more prom­i­nent mar­ket within the Great Lakes re­gion.”

A sep­a­rate HSBC re­gion, called New Eng­land, will in­clude some of the states the Buf­falo of­fice used to over­see.

HSBC is pre­par­ing to open a branch in Depew, al­most seven years af­ter sell­ing off its up­state branch net­work.

Em­pire Emer­gency Ser­vices broke ground Wed­nes­day for an ad­di­tion to its Town of Ni­a­gara plant. About 16 jobs will be added to the com­pany’s cur­rent work­force of 12.

The com­pany, which equips emer­gency ve­hi­cles for po­lice and fire de­part­ments, will add 10,000 square feet to its fa­cil­ity in the for­mer Ni­a­gara Ac­tive Hose Com­pany hall on Lock­port Road. An­nual out­put at the plant is pro­jected to dou­ble, to more than 300 ve­hi­cles.

The $1.65 mil­lion project was aided by state and county in­cen­tives. Em­pire State Devel­op­ment pro­vided a $216,000 Com­mu­nity Devel­op­ment Block Grant and $400,000 in Ex­cel­sior Jobs Pro­gram tax cred­its.

The Ni­a­gara County In­dus­trial Devel­op­ment Agency ap­proved a 15-year tax break in Novem­ber, sav­ing the firm an es­ti­mated $179,000 on prop­erty and sales taxes.

Woodcock Broth­ers opens North Ton­awanda brew pub

Woodcock Broth­ers Brew­ing Co., which has op­er­ated in Wil­son since 2011, on Thurs­day cel­e­brated the grand open­ing of its sec­ond brew pub. It’s in North Ton­awanda, in the Wurl­itzer Build­ing, 908 Ni­a­gara Falls Blvd.

The City of North Ton­awanda pro­vided a $516,000 com­mu­nity devel­op­ment block grant to as­sist in the $1.3 mil­lion leas­ing and ren­o­va­tion of 5,000 square feet in the one­time or­gan fac­tory.

Em­pire State Devel­op­ment pro­vided $110,000 in Ex­cel­sior Tax Cred­its, tied to job cre­ation. Woodcock Broth­ers pledged to cre­ate 35 jobs in North Ton­awanda in the next two years. The brew­ery em­ploys 40 peo­ple in a for­mer cold stor­age plant in Wil­son, where its orig­i­nal project was backed by a 10-year tax break from the Ni­a­gara County In­dus­trial Devel­op­ment Agency.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.