HSBC’s Silicon Valley Bank UK acquisition raises Hong Kong lender’s tech profile with clients, start-ups

Just over a year after HSBC Holdings acquired the UK unit of Silicon Valley Bank (SVB) for £1 (US$1.27), wealthy customers from Hong Kong and the rest of Asia are keenly exploring investment opportunities in tech start-ups, according to a senior HSBC executive.

HSBC, the biggest lender in Europe and Hong Kong, bought Silicon Valley Bank UK in March last year after its US parent collapsed following a run on the bank. Three months later, the newly acquired unit was rebranded HSBC Innovation Banking.

Source: REUTER