Earlier today, HSBC announced that it had acquired Silicon Valley Bank UK for £1 in a transaction approved by UK banking regulators. SVB has been a top banking firm for venture-backed firms around the world, and its UK operation is perhaps the most prominent. As… Read More
HSBC, working with the UK government, has announced the acquisition of Silicon Valley Bank UK (SVB UK). In a release, HSBC said it had purchased Silicon Valley Bank UK Limited for £1. The transaction completes immediately. HSBC said the transaction will improve its banking franchise… Read More
Following an initial statement that it held a separate balance sheet from Silicon Valley Bank (NASDAQ:SIVB) in the US, Silicon Valley Bank UK has announced it will move into insolvency following a discussion with UK banking regulators. SVB UK took on a similar role to… Read More
The Federal Deposit Insurance Corporation (FDIC) has decided to wind down the operations of Silicon Valley Bank (NASDAQ:SVIB), following a capital deficit and an effective run on the bank. SVB has long been a top business bank for startups based in Silicon Valley and around… Read More
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