HSBC has announced the launch of a new commercial banking operation in Italy, offering trade services to Italian mid-caps.

The bank aims to enable large Italian corporates and mid-caps to grow internationally, boosting trade in the country as it emerges from recession.

HSBC’s head of commercial banking in Italy, Marco Mariano, will lead an enhanced team of relationship managers, product specialists and client support specialists in Milan. The team will offer trade finance services, cash management, payments and global market services.

In a statement to GTR, Mariano says: “Our goal is to help mid-size Italian companies, which represent the backbone of the local economy, to connect to international opportunities both with Italy’s traditional trading partners as well as key emerging markets.”

“Italian mid-caps will now be granted access to the same services and products available to our large corporate customers.”
Commenting on the new operation, CEO of HSBC Italy, Marzio Perreli, says: “There is a significant opportunity to capture market share with internationally focussed mid-size companies with large international exposure.”

“HSBC’s global strategy is to have a strong network of businesses in the markets most relevant to trade and capital flows. Italy is Europe’s fourth largest economy and the world’s ninth largest trading partner, with steady long-term growth prospects, which makes it a natural choice for us to grow the commercial banking franchise.”