HSBC Supports VEI with $250,000 Grant

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Grant Expands In-school Entrepreneurship Programs to Meet Demand in Five Cities;

NEW YORK, N.Y., October 15, 2013 – HSBC Bank (“HSBC”) today awarded the second half of a two-year, $250,000 grant to Virtual Enterprises International (VEI). VEI is a unique in-school entrepreneurship program that transforms classrooms into offices and students into young professionals through the development and operation of simulated business ventures.  The first half of the grant funded the launch of the program in Miami and the expansion in New York City and Los Angeles.  The grant will also support the launch of the program in Boston and Charlotte.

“We are most grateful for the support of HSBC to allow more under-served students to experience entrepreneurship and the extended learning opportunities this program provides as well as apply their academic, business and technology skills to real business practice,” said Iris Blanc, founder and National Director of VEI.  “These new cities will become part of a network of 500 student-run VEI programs in the U.S. and 5,000 worldwide.”

“We are pleased to help make it possible for VEI to reach more students in more cities with its unique hands-on program that brings the global marketplace into the classroom,” said Loretta Abrams, Senior Vice President, Corporate Sustainability, HSBC USA. “For HSBC, VEI offers a way to directly support today’s students to become future business leaders. HSBC employees look forward to bringing to bear their global business expertise as volunteer advisers, mentors and coaches to students as they sharpen business-critical skills such as analysis, decision-making, communications and collaboration.”

About VEI

About HSBC

HSBC is one of the world’s largest banking and financial services organizations. With around 6,600 offices in both established and faster-growing markets, we aim to be where the economic growth is, connecting customers to opportunities, enabling businesses to thrive and economies to prosper, and ultimately helping people to fulfill their hopes and realize their ambitions. We serve around 58 million customers through our four global businesses: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking. Our network covers 81 countries and territories in six geographical regions: Europe, Hong Kong, Rest of Asia-Pacific, Middle East and North Africa, North America and Latin America.

HSBC Bank USA, National Association, with total assets of $183.9bn as of 31 March 2013 (US GAAP), serves 3 million customers through retail banking and wealth management, commercial banking, private banking, asset management, and global banking and markets segments. It operates more than 250 bank branches throughout the United States. There are over 165 in New York State as well as branches in: California; Connecticut; Delaware; Washington, D.C.; Florida; Maryland; New Jersey; Pennsylvania; Oregon; Virginia; and Washington State. HSBC Bank USA, N.A. is the principal subsidiary of HSBC USA Inc., an indirect, wholly-owned subsidiary of HSBC North America Holdings Inc. HSBC Bank USA, N.A. is a member of the FDIC.

Press Release originally sent out October 15, 2013.