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HSBC relaunches SVB UK as 'innovation' division
HSBC relaunches SVB UK as 'innovation' division
Business and Economy
by  AFP

Asia-focused bank giant HSBC on Monday relaunched the recently-acquired UK arm of collapsed US lender Silicon Valley Bank as part of a major push into technology and life sciences. Monday's rebrand comes with "the UK's world-leading technology and life sciences sectors... central to growing the UK economy and boosting global exports", said HSBC chief executive Noel Quinn said Monday.

Sergio Ermotti: George Clooney of Swiss banking tasked with mega-merger
Sergio Ermotti: George Clooney of Swiss banking tasked with mega-merger
Business and Economy
by  AFP

Sergio Ermotti returned as chief executive of UBS to mastermind the merger with Credit Suisse -- an onerous task which begins in earnest on Monday after the takeover was finalised. In 2021, he became the chairman of the reinsurance giant Swiss Re. But when Kelleher sounded him out about returning to UBS to integrate Credit Suisse, Ermotti said he felt the "call of duty" to return. noo/rjm/nl/lth