HSBC has bought the UK arm of Silicon Valley Bank, after the Government and the Bank of England stepped in to “facilitate” a private sale
HSBC has bought the UK arm of a collapsed leading tech-focussed bank, after the Government and the Bank of England stepped in to “facilitate” a private sale.
Silicon Valley Bank , which is heavily involved in financing start-up firms, was shut down in the US on Friday and its British arm is being wound up over the weekend. “I said yesterday that we would look after our tech sector, and we have worked urgently to deliver on that promise and find a solution that will provide SVB UK’s customers with confidence.
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