News

HSBC has hired more than 40 investment bankers who used to work at Silicon Valley Bank, the latest move by the British lender to scoop up parts of the failed tech-focused bank.

A month after HSBC acquired SVB’s UK subsidiary for £1, the bank is now hiring several dozen of its US bankers from First Citizens, which bought much of SVB in an auction handled by the Federal Deposit Insurance Corporation.

The group of ex-SVB bankers will establish a new banking practice catering to tech and healthcare companies, as well as venture capital funds, HSBC said in a statement on Tuesday.

Read more about HSBC here.

Articles You May Like

House of Commons descends into chaos over Gaza vote
Intel to manufacture chips for Microsoft as AI drives demand
Mortgage rates shoot to 2-month high after new report shows inflation is still hot
Louisiana preps $1.3 billion of PABs for bridge public private partnership
The companies benefiting from Europe’s defence revival