HSBC mulls options for Albuoys Point offices – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

Log In

Reset Password
BERMUDA | RSS PODCAST

HSBC mulls options for Albuoys Point offices

HSBC Bermuda is to invest $3 million in two of its Hamilton city offices.

The bank plans to focus its customer services business in the Harbourfront Centre on Front Street, while most operations will be concentrated in the Compass Point building on Bermudiana Road.

And the bank said it was “exploring alternative options” for the Albuoy's Point building, also on Front Street.

A spokeswoman for the bank declined to say whether the Albuoy's Point building would be sold, rented out or redeveloped.

She added: “Our plans include the development of new training facilities, building a new trading floor and other significant enhancements, to both the Harbourview and Compass Point buildings.

“We are currently exploring alternative options for our 6 Front Street, premises.”

Albuoy's Point still houses a number of HSBC staff, and the executive suite occupied by Mark Watkinson, HSBC Bermuda CEO.

Mr Watkinson said: “We believe this investment will have a positive impact on our employees as we continue to support the needs of both international and local clients — critical considerations for Bermuda's future economic success.”

Mr Watkinson added: “We have a very successful business in Bermuda.

“This can be attributed to the strong team we have on the island, our ability to adapt to the changes that have taken place globally and locally over the past decade and the strength of the HSBC group.

“We have achieved a positive balance between our international business and our domestic business.

“We service the needs of the large international business community in Bermuda and promote the jurisdiction globally.

“Locally, we serve half of the domestic businesses and provide finance for one in tow mortgages on the island.”

HSBC: considering the future of its office block at Albuoys Point

You must be Registered or to post comment or to vote.

Published September 29, 2016 at 12:50 pm (Updated September 29, 2016 at 10:50 pm)

HSBC mulls options for Albuoys Point offices

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon