First Citizens BancShares claims in a new court filing that executives at HSBC Holdings, including CEO Noel Quinn, condoned a plan to steal employees and confidential information from Silicon Valley Bank after it collapsed last year and was acquired by First Citizens. In an amended lawsuit filed in San Francisco federal court on Wednesday, First Citizens said David Sabow, who led SVB's technology and healthcare banking segment before moving to HSBC, met with Quinn and other top executives numerous times and shared plans to poach workers in order to launch a competing venture capital business.
First Citizens claims HSBC execs knew of plot to poach Silicon Valley Bank workers streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
(Bloomberg) Mounting pressure from a top US watchdog led to New York Community Bancorp’s surprise decision to slash its dividend and stockpile cash in case commercial real estate loans go bad, according to people with direct knowledge of the matter.Most Read from BloombergKing Charles Treated for Cancer in New Health Scare for MonarchyWhy NYC Apartment Buildings Are on Sale Now for 50% OffChina Tightens Some Trading Restrictions for Domestic and Offshore InvestorsEastern Europe’s Richest Woma