HSBC pays £1 to rescue UK arm of Silicon Valley Bank after all-night talks

HSBC acquires collapsed Silicon Valley Bank's UK subsidiary

Silicon Valley Bank: HSBC buys UK arm of collapsed bank

HSBC has bought up the UK arm of the collapsed American Silicon Valley Bank for just one pound - under a deal brokered by the government aimed at protecting UK investors and tech startups from incurring huge losses.

HSBC buys failed US bank SVB’s UK arm for £1

The UK arm of failed US lender Silicon Valley Bank has been bought by HSBC for a nominal £1 ($1.2) in a rescue deal, the government and HSBC announced Monday. The sale, overseen by the Bank of England and the Treasury, comes after SVB collapsed Friday sparking panic in Britain over its key customers in the technology and life science sectors.

HSBC will buy the UK subsidiary of collapsed Silicon Valley Bank

After a weekend of negotiations, HSBC has agreed to acquire the UK subsidiary of Silicon Valley Bank for one pound (€1.13).

HSBC Buys Silicon Valley Bank’s UK Subsidiary for 1 Pound

Banking giant HSBC has announced a takeover of the UK subsidiary of Silicon Valley Bank (SVB) after the ...

HSBC steps in early to rescue Silicon Valley Bank’s UK operations – for 1 pound

SVB UK, sold for 1 pound, did have high exposures with tech startups