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Financial Times — Companies — Banking — Lex — Uk Banks — Silicon Valley Bank

HSBC/SVB UK: Quinn wins political and financial capital

HSBC's purchase of Silicon Valley Bank's UK subsidiary is unlikely to backfire spectacularly, but cannot immunise markets from US contagion.

1 min read
  • HSBC's purchase of SVB UK is a different deal for a different time, unlikely to backfire spectacularly.
  • HSBC hopes to make a net gain from the takeover.
  • SVB UK operated under its own local banking licence and invested primarily in short-term, liquid assets.
  • HSBC chief executive Noel Quinn should bank some political capital as well as the financial kind.
  • The transaction cannot immunise markets in the UK or elsewhere from contagion that might originate in the US.
HSBC/SVB UK: Quinn wins political and financial capital
The transaction cannot immunise markets in the UK or elsewhere from contagion that might originate in the US
Financial Times

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