Europe's biggest lender will next month announce that SVBUK is being renamed HSBC Innovation Banking, Sky News learns.
HSBC will next month unveil a new name for the technology-focused bank it rescued earlier this year after its US parent collapsed.UK under the name HSBC Innovation Banking.
The new identity is expected to be announced to coincide with London Tech Week, which kicks off on 12 June. One tech veteran said it may stoke concerns among entrepreneurs that by bringing SVBUK under the HSBC brand, the new subsidiary was at risk of surrendering the operational independence that had made it a distinctive presence in the SME banking market.
Noel Quinn, HSBC's chief executive, has talked about the need to preserve the culture of a business it stepped in toThe Bank of England orchestrated the deal, with Prime Minister Rishi Sunak also becoming personally involved. SVBUK has thousands of clients, many of whom had joined forces to warn the government that its demise would imperil Britain's start-up economy.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Achievements and innovation celebrated at the Lincolnshire Business Excellence AwardsCongrats to all the winners of the LBX23! Your hard work, innovation, and dedication to excellence have not gone unnoticed. 🏆✨ Discover more about these incredible businesses:
Read more »
Nintendo explains its decision to block Dolphin’s Steam release, saying it ‘stifles innovation’ | VGCNintendo has explained why it blocked a Steam release of GameCube and Wii emulator Dolphin, saying it 'illegally circumvents' its protection measures and 'stifles innovation'.
Read more »
Arm announces Cortex-X4 among latest CPU and GPU designsComing to silicon near you ... next year
Read more »
Intel to add AI engine to all 14th-gen Meteor Lake SoCsMovidius tech already sprinkled on some 13th-gen Core silicon goes mainstream in next-gen client silicon
Read more »
Lineside fire causes 'no impact' to services on Severn Valley RailwayFirefighters have been called to reports of a lineside fire at the Severn Valley Railway.
Read more »
It looks like Cinderella's Fairy Godmother is coming to Disney Dreamlight ValleyCinderella's Fairy Godmother is seemingly on the way to Disney Dreamlight Valley in Update 5. Whilst that hasn't been e…
Read more »