L'autunno di SVB UK genera la nuova unità di innovazione di HSBC

L'autunno di SVB UK genera la nuova unità di innovazione di HSBC

Timestamp: 12 giugno 2023 6:08
Nodo di origine: 2717433

HSBC
announced the launch of its HSBC Innovation Banking division today (Monday),
integrating the formerly independent Silicon Valley Bank UK (SVB Regno Unito) e
initiating dedicated innovation teams in the US, Hong Kong, and Israel. This maneuver
aims to bolster a global, interconnected, specialized banking offering to cater
to a wide array of innovative companies and their investors.

Il
unveiling took place at London Tech Week, an event focusing on innovation and
new technologies. This confirmed Sky News' speculation from late May that HSBC
would want to use the acquired institution as an innovation-focused unit.

HSBC
acquired the British division of the defunct SVB in March per solo una sterlina dopo che le autorità statunitensi hanno imposto l’istituzione di cessare ulteriori operazioni qualche
days earlier, causing panic in the global banking markets. At the time of the
acquisizione , SVB UK held deposits worth £6.7 billion and granted loans valued at
£5.5 billion, recording a pre-tax profit of £88 million in 2022.

However, information
provided during London Tech Week, indicates that the unit’s operational profile
will change and it will be transformed into HSBC Innovation Banking. It will
focus on providing services to a few thousand innovative companies in the UK
and worldwide soon.

“HSBC
now has a world-class team focused on innovation companies, their founders, and
their investors,” Noel Quinn, the Chief Executive Officer (CEO) of HSBC, commented.
He also mentioned the importance of the tech and life sciences sector to the
global economy and highlighted the bank’s intention to amplify these
capacità.

Il Regno Unito
Prime Minister, Rishi Sunak, gave his nod of approval, celebrating HSBC
Innovation Banking as a resource that will empower innovative companies to
harness their potential, generate more employment, and seize new global
opportunità.

"La
UK is home to world-leading tech and life sciences sectors, and I am proud of
the role the British government has played in securing their future and
enabling them to thrive,” Sunak added.

HSCB Innovation Banking to
Boost Startups

Erin
Platts, the head of HSBC Innovation Banking in the UK, explained the role of
the new division as a catalyst for UK innovation businesses, facilitating their
growth and competitiveness on the global stage.

"Nostro
clients choose us because we understand exactly what it takes for innovators
and their investors to achieve success, and we deliver it,” Platts stated.

HSBC
Innovation Banking plans to provide a combination of deep sector expertise,
custom client service, robust financial strength, and worldwide reach to its
client base, consisting of approximately 3,000 innovation businesses and funds
in the UK. The aim is to foster the growth aspirations of tech and life science
aziende.

Il nuovo
division comprises over 650 employees in the UK and Nordics, while a
specialized team of more than 40 has been assembled across the United States. In
addition, a few dozen of newly recruited bankers will join the offices in Tel
Aviv and Hong Kong.

Il
deposit-holding legal entity for HSBC Innovation Banking in the UK is named
HSBC Innovation Bank Limited, which was formerly Silicon Valley Bank UK
Limited. This entity will continue to operate separately as a subsidiary,
maintaining its headquarters at the office in London. The HSBC Innovation
Banking brand is expected to roll out globally in the upcoming months gradually.

Nel frattempo, HSBC Bank USA è stata colpita con una sanzione di 45 milioni di dollari by the US derivatives industry regulator for purportedly allowing ‘manipulative and deceptive trading’ among its traders and neglecting to maintain records of its business communications. The Commodity Futures and Trading Commission (CFTC) disclosed the financial sanction in May, confirming that it had reached an agreement with the subsidiary of the multinational British banking corporation.

HSBC
announced the launch of its HSBC Innovation Banking division today (Monday),
integrating the formerly independent Silicon Valley Bank UK (SVB Regno Unito) e
initiating dedicated innovation teams in the US, Hong Kong, and Israel. This maneuver
aims to bolster a global, interconnected, specialized banking offering to cater
to a wide array of innovative companies and their investors.

Il
unveiling took place at London Tech Week, an event focusing on innovation and
new technologies. This confirmed Sky News' speculation from late May that HSBC
would want to use the acquired institution as an innovation-focused unit.

HSBC
acquired the British division of the defunct SVB in March per solo una sterlina dopo che le autorità statunitensi hanno imposto l’istituzione di cessare ulteriori operazioni qualche
days earlier, causing panic in the global banking markets. At the time of the
acquisizione , SVB UK held deposits worth £6.7 billion and granted loans valued at
£5.5 billion, recording a pre-tax profit of £88 million in 2022.

However, information
provided during London Tech Week, indicates that the unit’s operational profile
will change and it will be transformed into HSBC Innovation Banking. It will
focus on providing services to a few thousand innovative companies in the UK
and worldwide soon.

“HSBC
now has a world-class team focused on innovation companies, their founders, and
their investors,” Noel Quinn, the Chief Executive Officer (CEO) of HSBC, commented.
He also mentioned the importance of the tech and life sciences sector to the
global economy and highlighted the bank’s intention to amplify these
capacità.

Il Regno Unito
Prime Minister, Rishi Sunak, gave his nod of approval, celebrating HSBC
Innovation Banking as a resource that will empower innovative companies to
harness their potential, generate more employment, and seize new global
opportunità.

"La
UK is home to world-leading tech and life sciences sectors, and I am proud of
the role the British government has played in securing their future and
enabling them to thrive,” Sunak added.

HSCB Innovation Banking to
Boost Startups

Erin
Platts, the head of HSBC Innovation Banking in the UK, explained the role of
the new division as a catalyst for UK innovation businesses, facilitating their
growth and competitiveness on the global stage.

"Nostro
clients choose us because we understand exactly what it takes for innovators
and their investors to achieve success, and we deliver it,” Platts stated.

HSBC
Innovation Banking plans to provide a combination of deep sector expertise,
custom client service, robust financial strength, and worldwide reach to its
client base, consisting of approximately 3,000 innovation businesses and funds
in the UK. The aim is to foster the growth aspirations of tech and life science
aziende.

Il nuovo
division comprises over 650 employees in the UK and Nordics, while a
specialized team of more than 40 has been assembled across the United States. In
addition, a few dozen of newly recruited bankers will join the offices in Tel
Aviv and Hong Kong.

Il
deposit-holding legal entity for HSBC Innovation Banking in the UK is named
HSBC Innovation Bank Limited, which was formerly Silicon Valley Bank UK
Limited. This entity will continue to operate separately as a subsidiary,
maintaining its headquarters at the office in London. The HSBC Innovation
Banking brand is expected to roll out globally in the upcoming months gradually.

Nel frattempo, HSBC Bank USA è stata colpita con una sanzione di 45 milioni di dollari by the US derivatives industry regulator for purportedly allowing ‘manipulative and deceptive trading’ among its traders and neglecting to maintain records of its business communications. The Commodity Futures and Trading Commission (CFTC) disclosed the financial sanction in May, confirming that it had reached an agreement with the subsidiary of the multinational British banking corporation.

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