HSBC says rebranded Silicon Valley Bank UK will maintain startup focus while targeting global growth
CNBC 2023-06-07 05:09:04 • 2 mins
Key Points
- HSBC UK wants to preserve Silicon Valley Bank UK's focus on startups and innovative businesses, CEO Ian Stuart told CNBC.
- "We are going to keep it ringfenced within our own ringfenced bank, it will have its own board, it will have its own risk policies, we are going to protect what it's got today," Stuart said, following the March takeover of the bank.
- Stuart also outlined plans to grow the rebranded bank in the U.S., U.K., Middle East and Asia.
Silicon Valley Bank UK will continue to serve startup businesses from "seed funding to IPO," the chief executive of its new owner, HSBC UK, said Tuesday.
"We're going to protect what we've got," Ian Stuart told CNBC's Arjun Kharpal at the Money20/20 fintech conference in Amsterdam.
