HSBC Holdings plc's U.S. unit has hired dozens of Silicon Valley Bank bankers led by David Sabow, who most recently led the technology and healthcare banking segment for the California-based bank that collapsed last month.
A logo of HSBC is seen on its headquarters at the financial Central district in Hong Kong, China August 4, 2020. REUTERS/Tyrone Siu/File PhotoU.S. unit has hired dozens of Silicon Valley Bank bankers led by David Sabow, who most recently led the technology and healthcare banking segment for the California-based bank that collapsed last month.
HSBC USA said in a statement the hiring will help the bank establish a dedicated banking practice focused on serving companies in technology and healthcare, as well as investors who support them. HSBC has initially assembled a team of more than 40 bankers in the San Francisco Bay Area, Boston and New York City as part of this initiative, it said.on March 10 after depositors rushed to pull out their money in a bank run that also brought down Signature Bank and wiped out more than half the market value of several other U.S. regional lenders.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
HSBC hires Silicon Valley Bank bankers to focus on tech, health care
Read more »
HSBC buys Silicon Valley Bank’s UK business, ending ‘nightmare’ for British techHSBC has scooped up the UK arm of failed Silicon Valley Bank, securing the deposits of thousands of British tech firms that hold money at the lender.
Read more »
USDC supply stabilizes following Silicon Valley Bank bank woesAfter a wave of redemptions following the collapse of Silicon Valley Bank, the supply of stablecoin USDC on Ethereum has stabilized.
Read more »
This terrifying reason Silicon Valley Bank collapsed is a threat to thousands of other businessesThis terrifying reason Silicon Valley Bank collapsed is a threat to thousands of other businesses. SVB executives embraced ESG policies and ‘woke capitalism.’
Read more »
Warren, AOC press top Silicon Valley Bank depositors about any cushy treatment they receivedProgressive Democrats Sen. Elizabeth Warren and Rep. Alexandria Ocasio-Cortez demanded answers from SVB's 14 largest depositors.
Read more »
Ro Khanna’s Progressive Case for Saving Silicon Valley BankHow the progressive Democrat Ro Khanna advocated for the federal government to guarantee all deposits after Silicon Valley Bank nearly went under.
Read more »