HSBC pays out more than £15m in bonuses to SVB UK staff.

(Schematic, European News Agency)

[Financial Channel/Comprehensive Report] Britain's largest bank "HSBC (HSBC)" announced last Monday (13th) that it will acquire the United Kingdom branch of Silicon Valley Bank (SVB UK) for 1 pound (about NT$36).

Existing foreign media reported that within a few days after reaching the M&A agreement, HSBC issued bonuses of more than 15 million pounds (approximately NT$550 million) to SVB UK employees.

British media "Sky News" quoted people familiar with the matter as reporting that HSBC paid bonuses to the bank's employees shortly after taking over the SVB UK branch, including senior executives of the SVB UK branch.

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According to people familiar with the matter, HSBC decided to pay the bonus in view of the fact that the SVB UK branch was still solvent when it was acquired, and the size of the bonus was between 15 million and 20 million pounds (about NT$550 million to 730 million). .

Regarding the above report, the spokesperson of HSBC UK stated that the payment had been agreed before, and the payment to SVB UK employees is just to fulfill the promise to retain talents and demonstrate confidence in SVB.

SVB UK branch did not respond to a request for comment.

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