HSBC director Jonathan Norris and head of life science and healthcare unit Katherine Andersen

HS­BC is mov­ing to fill a big gap left by SVB's col­lapse. And they've re­cruit­ed some fa­mil­iar faces for the leap

British bank­ing gi­ant HS­BC was the first big play­er to step up to fill the gap left by SVB’s abrupt col­lapse, buy­ing the UK end of the busi­ness for all of £1 a month ago.

Now they’re jump­ing the pond to scoop up op­por­tu­ni­ties in the US, re­cruit­ing dozens of staffers out of the old SVB or­ga­ni­za­tion to cre­ate a new bank­ing unit. And HS­BC is ab­sorb­ing a line­up of tal­ent that’s spent decades build­ing bank­ing re­la­tion­ships that are root­ed deep in biotech.

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