HSBC eyes leading role in banking for venture capital firms, startups after hiring wave

📆 6/13/2023 8:17 PM
📰 globeandmail

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HSBC is stepping up in the market when VC activity is slowing due to global market uncertainty in the wake of the Federal Reserve-led monetary tightening

In the first quarter of 2023, global VC investment was well under $60-billion, down from a peak of over $200-billion in the first quarter of 2022, a KPMG report said.

“We’re going to be able to cover from the smallest to the largest, and do so in a way that is more globally focused than anyone else.” HSBC also added over 20 bankers in Israel and over a dozen in Hong Kong, focusing on VCs and startups. Roberts said the business will focus on deposit gathering, transactional banking services, and some lending.

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