Politics

Spring Budget 2023: Future of UK tech is ‘safe’ in HSBC’s hands after Silicon Valley Bank rescue

The deal proved prize mandates for bankers at Robey Warshaw and Rothschild

Wednesday 15 March 2023 at 13:20

SVB lent to thousands of UK startups before a run on the bank forced its closure last week
SVB lent to thousands of UK startups before a run on the bank forced its closure last week Photo: Philip Pacheco/Getty Images

The future of the UK's technology businesses is "safe" in HSBC's hands, Chancellor Jeremy Hunt has said, after the lender's rescue deal for Silicon Valley Bank's UK business.

SVB lent to thousands of UK startups before a run on the bank forced its closure last week.