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SVB’s British isles arm concerns 15M pounds in bonuses right after symbolic bailout: Report By Cointelegraph

Posted on March 19, 2023
SVB's UK arm issues 15M pounds in bonuses after symbolic bailout: Report

Silicon Valley Bank Uk (SVB United kingdom) has granted tens of millions of pounds in employee bonuses, just days immediately after it was rescued by world-wide banking giant HSBC for just 1 British pound, according to unnamed resources.

In a March 18 Sky Information report citing unnamed resources, it was described that payouts to SVB British isles staff and senior executives have been signed off “before this 7 days” by HSBC British isles Bank – the institution which obtained SVB Uk for 1 British pound ($1.22 USD) on March 13.