HSBC Innovation Banking has swelled to 800 employees since it acquired the British arm of Silicon Valley Bank for just £1 last year — and the UK lender is eyeing further expansion.

HSBC has been taking advantage of its acquisition of SVB for the past year and has been “hiring aggressively” for the new unit after it launched in June 2023, according to Carly Burrows, managing director and head of corporate finance at HSBC Innovation Banking.