09:40 AM EDT, 03/12/2024 (MT Newswires) -- HSBC ( HSBC ) is expecting to hire around 50 additional bankers for its US commercial banking unit to work with startup companies, particularly in the technology sector, Reuters reported on Monday, citing an interview with a senior HSBC ( HSBC ) executive.

HSBC ( HSBC ) and its emerging innovation banking business already has hired 40 people from Silicon Valley Bank after the bank known for working with venture capital firms and their portfolio companies failed last year, according to the report.

The collapse of Silicon Valley Bank left a "void" in the market, the head of US commercial banking at HSBC ( HSBC ), Wyatt Crowell, told the news service, adding "We're jumping into it."

HSBC's ( HSBC ) US commercial banking unit did not immediately respond to a request for comment from MT Newswires on Tuesday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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