HSBC turns $1 SVB UK purchase into innovation arm

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HSBC has turned Silicon Valley Bank’s U.K. operations into its innovation banking arm after acquiring it for 1 pound ($1.24) on March 13, 2023.  The mini-banking crisis in March 2023 caused by the collapse of SVB and Signature Bank led to the fire sale of SVB’s U.K. operations.  The $3 trillion HSBC’s new innovation banking […]



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