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Koelmel: First Niagara hopes to retain many HSBC employees

by TSchmitt
Tue, Aug 2nd 2011 08:45 am

A day after announcing it was taking over nearly 200 branches from struggling HSBC, First Niagara CEO John Koelmel told local reporters the move will help the bank gain significant market share in our area.

The $1 billion dollar deal was announced over the weekend and the transaction gives First Niagara the most branches in the Buffalo area.

Koelmel added that he hoped to retain most of the 1,900 local employees absorbed in the transaction. Also, HSBC announced their plans to keep some of their commercial operations in Buffalo yesterday.


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