2 Top Corporations Move Headquarters To Pittsburgh’s ‘Dynamic Marketplace’

Duquesne University’s view of the Pittsburgh skyline. (Photo credit: Wikipedia)

Two regional companies announced Wednesday that they will make Pittsburgh their headquarters — beckoned from their suburban bases by a desire to be in a thriving big city that could help increase their profiles.

Michael Baker International and the parent company of First National Bank of Pennsylvania aren’t pulling up the stakes and relocating all their employees to Pittsburgh from their old headquarters. They have simply identified Pittsburgh as the place they will call home.

Michael Baker International LLC, a $1.2 billion construction-engineering company, will move its headquarters and 65 workers from Moon to the two top floors of Bank of New York Mellon Center, Downtown, in December. It will still retain a significant presence in Moon.

F.N.B. Corp. said it will ditch Hermitage, Mercer County, as the headquarters city for the region’s third-largest bank. It said the decision to make the Pittsburgh North Shore its home base will not impact employees.

Read more: http://triblive.com/business/headlines/6418044-74/pittsburgh-delie-national#ixzz375QXA4JW

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HSBC To Slash 30,000 Jobs Worldwide

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UK banking giant HSBC is now focusing on fast-growing emerging markets and plans to sell about half of its US Retail Bank Branches (195) to First Niagara for about one billion dollars.  The branches up for sale are mainly in New York and six are in Connecticut.

HSBC lost billions in the financial crisis of 2008; however HSBC reported a 3 percent increase in pretax profits for the first half of 2011.  The increase exceeded forecasted expectations.

HSBC is shifting their focus by expanding in emerging markets and reducing headcount in tougher markets.  A company official failed to give details on specifically where the 30,000 job cuts would be made.