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You're browsing: Archived News » 2006 HSBC, In the U.S., Who's Who in 06 » Article Title: PNC Owns Passive Stake in HSBC USA
11
Aug
PNC Owns Passive Stake in HSBC USA
Research

The PNC Financial Services Group Inc., based in Pittsburgh, reported a 10.18% passive stake in HSBC USA Inc.

According to documents filed with the Securities and Exchange Commission, PNC owns 1.3 million shares of the U.S. subsidiary of London-based HSBC Holdings PLC.

Investors who hold shares just for passive investment purposes and do not influence the company’s operations.

PNC has about 840 branches in eight states.

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