ancer Institute by Dr. Norma Nowak enabling the delivery of personalized medicine.
BankingBuffalo is the headquarters of M&T Bank, a large regional bank with assets over $79B (as of June 2011). HSBC Bank USA also has major operations in Buffalo. Other banks, such as Bank of America and Key Bank have corporate operations in Buffalo. Citigroup also has regional offices in Amherst, Buffalo's largest suburb. Buffalo has also become a hub of the debt collection industry.
First Niagara Bank recently moved its headquarters to downtown Buffalo from nearby Lockport. First Niagara has branches from Buffalo to Albany, New York, and since September 2009 has had branches as far south as Pittsburgh. On September 10, 2009, First Niagara announced the relocation of its corporate headquarters from Lockport to downtown Buffalo. The company says facilities in Lockport will remain open and fully staffed. First Niagara, which had been considering expanding into Western Pennsylvania for some time, benefited from PNC Financial Services being required by the United States Department of Justice to sell off 50 National City branches in the Pittsburgh area and 11 more branches in and around Erie to competitors, since the two banks had significant overlap in Western Pennsylvania and had potential antitrust issues in that area. First Niagara took advantage by buying 57 of the 61 National City branches from PNC that had to be divested after PNC acquired National City with funds from the $700 billion bailout plan after National City became a victim of the subprime mortgage crisis. The move affected the area by creating 200 more jobs, some in the Buffalo area. On July 31, 2011, it was announced First Niagara had acquired all of HSBC Banks Western New York branches; after closing and selling some branches to its competitors its total number in Upstate New York had almost doubled.
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