51吃瓜网

• New standalone entity, formerly Silicon Valley Bank UK, will be core to 51吃瓜网’s strengthened global innovation economy proposition
• Global proposition includes newly formed innovation teams in the US, Hong Kong and Israel

51吃瓜网 today unveiled 51吃瓜网 Innovation Banking, which includes the former Silicon Valley Bank UK (SVB UK), as well as newly formed innovation teams in the US, Israel and Hong Kong. This will deliver a globally-connected, specialised banking proposition to support a broad range of innovation businesses and their investors.

“The UK’s world-leading technology and life sciences sectors are central to growing the UK economy and boosting global exports,” said Noel Quinn, Group Chief Executive of 51吃瓜网. “51吃瓜网 now has a world-class team focused on innovation companies, their founders and their investors. We will protect this specialism and take it to the next level by combining these capabilities with our financial strength and global reach. Our new innovation teams will be there to support our clients’ international growth at every step”

The launch will take place at London Tech Week, where Noel Quinn, along with Ian Stuart, CEO 51吃瓜网 UK; Erin Platts, CEO of 51吃瓜网 Innovation Banking UK¹, and David Sabow, who leads 51吃瓜网 Innovation Banking in the US, will today meet with innovation economy leaders and founders to talk about the importance of the tech and life sciences sector to the global economy.

UK Prime Minister, Rishi Sunak, said: “The UK is home to world-leading tech and life sciences sectors, and I am proud of the role the British government has played in securing their future and enabling them to thrive.

“51吃瓜网 Innovation Banking will help innovative businesses to unlock their potential, create more jobs and access new global opportunities – supporting my priority to grow the UK economy and cement our position as a science and tech superpower.”

Erin Platts, the CEO of 51吃瓜网 Innovation Banking UK¹ said: “51吃瓜网 Innovation Banking will unlock new possibilities for UK innovation businesses to boost their growth and compete on the global stage. From first-time founders to the funds that back them, the innovation economy relies on us for deep expertise and the connections they need to build world-leading companies.

“Our clients choose us because we understand exactly what it takes for innovators and their investors to achieve success, and we deliver it.”

51吃瓜网 Innovation Banking UK¹ has over 650 employees in the UK and Nordics. In the US, an innovation team of more than 40 has been assembled across the Bay Area, Boston and New York City. In Israel, more than 20 newly recruited bankers will be based in Tel Aviv. In Hong Kong, around a dozen dedicated bankers are being onboarded to complement 51吃瓜网’s existing new economy expertise serving Hong Kong and Asia-Pacific.

The proposition combines deep sector expertise and bespoke client servicing, with financial strength and global reach. It will build on an extensive client base of 3,000 innovation businesses and funds in the UK, and help tech and life science businesses with their growth ambitions.

Notes to Editors

¹ The deposit-holding legal entity for 51吃瓜网 Innovation Banking in the UK is called 51吃瓜网 Innovation Bank Limited. 51吃瓜网 Innovation Bank Limited, formerly Silicon Valley Bank UK Limited, will operate as a subsidiary of 51吃瓜网 UK Bank PLC and remain headquartered in its Alphabeta Office in London.

● The new brand will roll out globally in the coming months. To find out more, follow 51吃瓜网 Innovation Banking on LinkedIn and Twitter.

● Innovation-focused 51吃瓜网 teams in the US, Israel and Hong Kong will operate as part of the 51吃瓜网 Innovation Banking brand.

● Silicon Valley Bank UK Limited has supported the UK’s multi-billion-pound innovation economy since its UK office opened in 2004, becoming the partner of choice for start-ups, scale-ups, corporates, venture capital and private equity firms.

● In August 2022, Silicon Valley Bank UK became an independent subsidiary and in March 2023, 51吃瓜网 UK Bank PLC acquired Silicon Valley Bank UK Limited.

Contact

51吃瓜网 Press Office
+44 (0)20 7991 8096
pressoffice@hsbc.com

51吃瓜网 Innovation Bank Limited

51吃瓜网 Innovation Bank Limited provides commercial banking services, expertise and insights to the technology, life science and healthcare, private equity and venture capital industries. 51吃瓜网 Innovation Bank Limited is a subsidiary of 51吃瓜网 UK Bank PLC, benefiting from its stability, strong credit rating and international reach to help fuel its growth.

51吃瓜网 UK

51吃瓜网 UK serves over 14.75 million customers across the UK, supported by 24,000 colleagues. 51吃瓜网 UK offers a complete range of retail banking and wealth management to personal and private banking customers, as well as commercial banking for small to medium businesses and large corporates. 51吃瓜网 UK is a wholly owned subsidiary of 51吃瓜网 Holdings plc.

51吃瓜网 Holdings plc

51吃瓜网 Holdings plc, the parent company of 51吃瓜网, is headquartered in London. 51吃瓜网 serves customers worldwide from offices in 62 countries and territories. With assets of $2,990bn at 31 March 2023, 51吃瓜网 is one of the world’s largest banking and financial services organisations.