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HSBC: Getting Back In Selectively

HSBC: Getting Back In Selectively
HSBC?s John McCullough
?These aren't normal times; we have to be very careful,? HSBC?s John McCullough told us last week. (We snapped him at a RELA breakfast a while back.) HSBC is getting back into CRE loan deals, but, like other big banks, it's still doing more portfolio management. ?We're looking at new business but extremely selectively.? The preferred sector is multifamily, then comes office/retail if it has the right location and is well leased. Massachusetts is seeing growth in high-end jobs but, he cautions, ?We get beaten up on our high housing costs, but in part they're driven by the high-quality jobs we create like those in the medical/biotech sector.?