HSBC USA will focus on innovation ecosystem, biz in tech market

HSBC USA will focus on innovation ecosystem, biz in tech marketHSBC USA has announced that it has hired Silicon Valley veterans, led by David Sabow, to establish a dedicated banking practice focused on the innovation economy. Sabow will be joined by Sunita Patel who will oversee investor coverage and business development across the technology and healthcare market. Other senior team members include Katherine Andersen who will lead life sciences and healthcare, as well as Melissa Stepanis who will oversee technology. This offering will bring HSBC’s expansive product suite and unmatched international capabilities to support companies in the innovation ecosystem at every stage of their journey.

“As we look to grow our business, this offering allows us to connect the innovation ecosystem with the size, strength and international network of HSBC,” said Michael Roberts, CEO US and Americas at HSBC. “Early-stage companies should have a partner that can support them at every phase of their growth and we think that HSBC is best placed to help do that.”

The new offering will sit within the bank’s US Commercial Banking business and remain a distinct effort focused on serving companies in technology and healthcare, as well as the investors who support them. HSBC has initially assembled a team of more than 40 bankers in the Bay Area, Boston and New York City as part of this initiative.