PNC Owns Passive Stake in HSBC USA
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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