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Published 1 year ago

Silicon Valley Bank UK arm hands out £15m in bonuses days after £1 rescue

Summary by Ground News
The British arm of Silicon Valley Bank (SVB UK) has handed out millions of pounds in employee bonuses just days after its insolvency was averted through a Bank of England-orchestrated rescue deal.

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The GuardianThe Guardian

Millions paid in bonuses to UK Silicon Valley Bank staff days after £1 rescue

Workers reported to have received payouts from ‘modest’ pool of £15m-£20m following takeover deal by HSBC

1 year ago·London, United Kingdom
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ReutersReuters

SVB UK handed out over 15 million sterling in bonuses days after HSBC rescue, Sky News reports

Silicon Valley Bank's UK arm handed out over 15 million pounds ($18 million) in bonuses days after its rescue deal this week by HSBC, Sky News reported on Saturday.

1 year ago·United Kingdom
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NZ HeraldNZ Herald

Silicon Valley Bank staff handed up to $38m in bonuses after rescue deal

Telegraph:

1 year ago·Auckland, New Zealand
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New York PostNew York Post

Silicon Valley Bank UK hands out $18M in bonuses after HSBC rescue

The doomed bank's UK arm gave its staff $18 million in bonuses this week after HSBC purchased the subsidiary in a rescue deal.

1 year ago·New York, United States
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The TelegraphThe Telegraph

Silicon Valley Bank staff handed up to £20m in bonuses

HSBC makes payment to workers at UK arm of collapsed tech lender

1 year ago·London, United Kingdom
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Sky News UKSky News UK

Silicon Valley Bank UK arm hands out £15m in bonuses days after £1 rescue

Between £15m and £20m in bonus payments were made to staff at SVB UK this week after being signed off by the bank's new owner, HSBC, Sky News learns.

1 year ago·United Kingdom
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