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Montreal Firm Buys Bank's Equipment Finance Unit in Buffalo, N.Y.
Byline: Chet Bridger
Dec. 24--Alter Moneta, a Montreal-based leasing company, has acquired the equipment finance division of HSBC Bank USA.
The Canadian company will make Buffalo the headquarters of its U.S. operation. Thirty-one of the 44 local employees within HSBC's equipment finance division are being offered jobs with Alter Moneta, according to HSBC officials.
Another five employees will take different jobs with HSBC and eight workers will be laid off.
"We have access to the experienced people there. So obviously, with this acquisition, our goal is to stay there," said Alain Savard, president of Alter Moneta.
Richard Hardt, …
