off-the-wire

HSBC hires Silicon Valley Bank bankers to focus on tech, healthcare

Kitco Media
By Reuters
Published:
Updated:
Reuters

NEW YORK, April 11 (Reuters) - HSBC Holdings plc's (HSBA.L) U.S. unit has hired dozens of Silicon Valley Bank bankers led by David Sabow, who most recently led the technology and healthcare banking segment for the California-based bank that collapsed last month.

HSBC USA said in a statement the hiring will help the bank establish a dedicated banking practice focused on serving companies in technology and healthcare, as well as investors who support them.

HSBC has initially assembled a team of more than 40 bankers in the San Francisco Bay Area, Boston and New York City as part of this initiative, it said.

Reporting by Saeed Azhar
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