 As part of the takeover conditions for the acquisition, HSBC Holdings plc was required to relocate its world headquarters from Hong Kong to London in 1993.Major acquisitions in South America started with the purchase of the Banco Bamerindus of Brazil for $1 billion in March 1997 and the acquisition of Roberts SA de Inversiones of Argentina for $600 million in May 1997.In May 1999, HSBC expanded its presence in the United States with the purchase of Republic National Bank of New York for $10.3 billion.