HSBC is Europe’s largest bank, with assets under management of nearly $3 trillion, and it recently rescued Silicon Valley Bank's U.K. subsidiary. Meanwhile, it just launched its Innovation Banking unit to integrate SVB UK with newly formed teams in the U.S., Israel, and Hong Kong that will be focusing on tech and life science enterprises.
The initiative garnered support from British Prime Minister Rishi Sunak, who believes it will foster innovation, create jobs, and solidify the U.K.'s position as a leading force in science and technology.
