Silicon Valley Bank rescue: A sigh of relief for tech business

Time for other banks to adapt

clock • 3 min read

Various triggers have been highlighted as contributing to the collapse of one of America’s top 20 largest banks - Silicon Valley Bank (SVB).

From rises in interest rates, poor investment decisions and a deterioration in its customer base, to a loss of customer confidence as share prices dropped, along with the impact caused by using outdated technology, there remains a wider concern that other banks might follow. Supporting tech innovation in the UK Whatever the cause of the collapse of SVB, there has been huge relief amongst tech business founders this week as HSBC Bank stepped in. HSBC worked with the UK government to rescue SVB's UK subsidiary (SVB UK) which was ringfenced from the US business, with HSBC ultimately acqui...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Equities

JOHCM UK Dynamic managers on Savvides' exit, continuity and the outlook for UK equities

JOHCM UK Dynamic managers on Savvides' exit, continuity and the outlook for UK equities

Mark Costar and Tom Matthews

Cristian Angeloni
clock 27 February 2024 • 5 min read
Deep Dive: Uncertain economic outlook boosts case for blended portfolios

Deep Dive: Uncertain economic outlook boosts case for blended portfolios

Value and growth have a role to play

Valeria Martinez
clock 23 February 2024 • 5 min read
Partner Content: Three Minutes With Federated Hermes Limited's Mark Sherlock

Partner Content: Three Minutes With Federated Hermes Limited's Mark Sherlock

What are the prospects for US SMID equities in 2024?

Federated Hermes Limited
clock 20 February 2024 • 1 min read
Trustpilot