By Sabela Ojea HSBC Holdings PLC s U.S. unit has hired dozens of former bankers from the failed Silicon Valley Bank to as part of a new product offering to boost its presence in the technology. | April 11, 2023
It has been a chaotic 72 hours, with changing facts, breaking news and unexpected developments. The market turmoil has kept us scrambling to figure out how best to get deals closed.
Silicon Valley Bank UK sold to HSBC after Government and Bank of England step in to facilitate sale yorkshirepost.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yorkshirepost.co.uk Daily Mail and Mail on Sunday newspapers.
On March 10, US regulators closed Silicon Valley Bank (SVB), marking the second-largest US bank failure in history and the first since the global financial crisis in 2008.
California Department of Financial Protection appointed Federal Deposit Insurance Corporation FDIC as receiver for Silicon Valley Bank SVB. FDIC is appointed receiver to liquidate or wind up affairs of failed bank. Bridge bank allows FDIC to rapidly take over failed bank.