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HSBC CEO Says SVB UK Will Form Core of New Global Tech Unit

HSBC Holdings Plc’s Chief Executive Officer Noel Quinn said the bank’s takeover of the British arm of Silicon Valley Bank will provide the basis for a new global technology business.

“I want to take that capability globally,” Quinn said in an interview with Bloomberg Television on Tuesday. “I’m also setting up teams in other parts of the world that are the equivalents of SVB in the UK. So we bought a business in the UK, but I want to create that capability globally.”

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