We have been continuing to monitor the situation at Silicon Valley Bank since our Client Alert issued yesterday afternoon.
Like the rest of the sector, we were relieved at this morning’s announcement and welcomed news of the acquisition of SVB UK (the UK subsidiary of the SVB Group) by way of a share sale by HSBC UK Bank Plc.
We have produced an updated FAQ to answer some of the key questions, including those that we have been hearing from our own clients. You can find it below.
As always, please do not hesitate to contact your client relationship partner at CMS if you have any questions about how this affects you and your business. Additionally, we’ve also set up a dedicated support email address svbhelp@cms-cmno.com to contact us if you need assistance.
