Diversification and growth are key aims as we enter the 1980s. We start by taking a 51 per cent stake in Marine Midland in the US. Michael Sandberg, HSBC Chairman, and Edward Duffy, Marine Midland Chairman, are pictured here signing the definitive agreement. Marine is one of the biggest banks in New York state and we take full ownership in 1987. Marine Midland absorbs HSBC's New York branches and is renamed HSBC Bank USA in 1999.