Announced
Completed
Financials
Sources
Tags
Completed
Domestic
Majority
United Kingdom
banking services
Banks
Acquisition
Private
Friendly
Single Bidder
Synopsis
HSBC, a British multinational banking and financial services organisation, completed the acquisition of Silicon Valley Bank UK, the UK arm of collapsed US Silicon Valley Bank, for £1. "This acquisition makes excellent strategic sense for our business in the UK. It strengthens our commercial banking franchise and enhances our ability to serve innovative and fast-growing firms, including in the technology and life-science sectors, in the UK and internationally," Noel Quinn, HSBC Group CEO.
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