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13 Mar 2023

Stephenson Harwood's response to recent news regarding Silicon Valley Bank

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Having spent the weekend supporting clients reacting to the bank's potential collapse in the UK, Stephenson Harwood is pleased to hear the latest news this morning concerning HSBC's rescue of the UK arm of Silicon Valley Bank (SVB).

SVB has been a stalwart of the life sciences and technology markets for many years, and we're pleased to see Europe's largest clearing bank has stepped into the breach to support such an important area of the UK economy.

The Bank of England has confirmed that all depositors’ money with SVB is safe and secure as a result of the transaction; and that all services will continue to operate as normal and customers should not notice any changes.

Stephenson Harwood remains on hand to advise clients on these latest developments and assist them in understanding the impact of the HSBC rescue.

Please get in touch with your usual Stephenson Harwood contact if you are looking for advice.  Or contact any of the team below.
 

Life sciences and technology

  • Alexandra Pygall
  • Simon Bollans

Corporate

  • Tom Page
  • Kristian Shearsby

Restructuring and insolvency

  • Ian Benjamin
  • Julian Cahn
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KEY CONTACT

Ian Benjamin

Ian Benjamin
Partner

T:  +44 20 7809 2286 M:  +44 7921 472 238 Email Ian | Vcard Office:  London

Simon Bollans

Simon Bollans
Partner

T:  +44 20 7809 2668 M:  Email Simon | Vcard Office:  London

Julian Cahn

Julian Cahn
Partner

T:  +44 20 7809 2342 M:  +44 79 2004 4969 Email Julian | Vcard Office:  London

Tom Page

Tom Page
Partner

T:  +44 20 7809 2021 M:  +44 7813 600 516 Email Tom | Vcard Office:  London

Alexandra Pygall

Alexandra Pygall
Partner

T:  +44 20 7809 2137 M:  +44 7881 314 566 Email Alexandra | Vcard Office:  London

Kristian Shearsby

Kristian Shearsby
Partner

T:  +44 20 7809 2813 M:  +44 7880 488 532 Email Kristian | Vcard Office:  London