HSBC bags £135m from former Silicon Valley Bank as job cuts push up restructuring bill Banking The rescued UK wing of Silicon Valley Bank has paid another bumper dividend to HSBC as it racked up costs amid a sweeping restructure. HSBC Innovation Banking – the branding bestowed on the collapsed Silicon Valley Bank UK (SVBUK) – was taken over by Europe’s largest lender in March 2023 as ministers, regulators and banking [...]
Quantum and AI drive UK startup funding to $7.8bn in 2026 Tech UK startup funding jumped to $7.8bn (£6.2bn) in the first quarter of 2026, as a surge in quantum computing investment and mega-rounds powered the strongest start to a year since 2022. New data from HSBC Innovation Banking and Dealroom shows venture capital investment rose 60 per cent year on year, pointing to renewed confidence in [...]
HSBC Innovation Banking CEO: the next phase of UK innovation will be won quietly Opinion The next phase of UK innovation will be driven by deep tech, life sciences and infrastructure-heavy businesses, says Emily Turner The UK’s innovation economy is now worth $1.3tn. Artificial intelligence sits at the heart of that story, commanding headlines and capital in equal measure. But when we look at where long-term value is being created, [...]
HSBC taps KPMG veteran Brendan Nelson to chair banking giant December 3, 2025 Europe’s biggest lender, HSBC, has named a new chair following its tumultuous recruitment programme after the departure of Sir Mark Tucker. HSBC tapped KPMG veteran Brendan Nelson, who has also served on the boards of BP and Royal Bank of Scotland, as its new chair. Nelson joined the banking giant’s board in 2023 and has served [...]
HSBC shares sink on play to take control of Hong Kong bank October 9, 2025 HSBC shares tumbled on Thursday morning as the bank laid out plans to suspend its buyback program in order to buy out minority shareholders in Hong Kong’s Hang Seng Baak. The FTSE 100 banking juggernaut has offered to pay HK$155 per share for the 36 per cent not already owned by the bank. The proposal [...]
HSBC lands £333m in dividends from takeover of Silicon Valley Bank UK September 9, 2025 HSBC Innovation Banking has handed a £333m in dividends to its parent company amid a surge in profitability after completing its first full year as a subsidiary of HSBC Group. The lender, which had been the UK subsidiary of Silicon Valley Bank until the latter’s demise in 2023, paid HSBC a special dividend of £198m [...]
UK surges ahead of France and Germany as Europe’s ‘innovation powerhouse’ April 14, 2025 HSBC Innovation Banking, a subsidiary of Europe’s biggest lender, hailed the UK’s enterprise value in its latest innovation report. UK innovation firms raised £3.2bn of venture capital in the first three months of the year – an eight per cent increase from the first quarter of 2024. The quarter attracted higher amounts of funding, with [...]
HSBC poaches Citi veteran to lead Innovation Banking November 21, 2024 HSBC has poached Citigroup veteran Emily Turner to be chief executive of its Innovation Banking arm, formerly known as Silicon Valley Bank UK. Turner is due to join the bank in February, subject to regulatory approval, succeeding Erin Platts – who will join investment firm Octopus Ventures in the new year. A 13-year veteran of [...]