We’ve launched HSBC Innovation Banking
We’re combining the expertise of the former Silicon Valley Bank UK (SVB UK) with our international strength to enable businesses focused on innovation to compete globally.
HSBC Innovation Banking is our new global, specialised banking proposition for businesses in cutting-edge sectors, such as tech and life sciences, and their investors.
Sometimes, high-growth start-ups need a helping hand to capture global opportunities and our new proposition will enable them to navigate the challenges of growing across borders.
What’s being said
UK Prime Minister Rishi Sunak said: “The UK is home to world-leading tech and life sciences sectors. HSBC Innovation Banking will help innovative businesses to unlock their potential, create more jobs and access new global opportunities – supporting my priority to grow the UK economy and cement our position as a science and tech superpower.”
Our Group Chief Executive Noel Quinn added: “HSBC now has a world-class team focused on innovation companies, their founders and their investors.
“We will protect this specialism and take it to the next level by combining these capabilities with our financial strength and global reach. Our new innovation teams will be there to support our clients’ international growth at every step.”
What we’re doing
HSBC Innovation Banking creates a unique network of specialist expertise and capabilities, under one distinct brand.
It combines the innovation expertise and bespoke financial services of SVB UK, which is now known as HSBC Innovation Bank Ltd, with newly assembled HSBC innovation teams in the US, Israel and Hong Kong to support clients’ global growth goals.
We’ll support a range of businesses from early-stage growth ones to late-stage public and private corporates, and connect them with our global capabilities, including investment banking, private banking and asset management services.
London launch
The launch of HSBC Innovation Banking took place at London Tech Week, where our senior leaders met innovation economy leaders and founders to emphasise the importance of the tech and life sciences sectors to the global economy.
HSBC Innovation Banking UK has more than 650 employees, including teams that cover Denmark and Sweden.
In the US, an innovation team of more than 40 has been assembled across the Bay Area, Boston and New York City, and we’re continuing to recruit new bankers in Tel Aviv and Hong Kong.
The launch of HSBC Innovation Banking comes three months after our UK bank bought SVB UK for £1 when US regulators shut down parent company Silicon Valley Bank, which specialised in lending to technology companies.