SVB UK handed out over 15 million stg in bonuses days after HSBC rescue

Credit: Upworthy- Published 2 weeks ago
Silicon Valley Bank's UK arm handed out over 15 million pounds ($18 million) in bonuses days after its rescue deal this week by HSBC, Sky News reported on Saturday. Payouts to staff including senior executives were signed off by HSBC earlier in the week, the report said, adding that the bonusesโ€ฆ

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Video credit: Wibbitz Top Stories
Published 2 weeks ago -  01:31
Goldman Sachs' Big Payout From Silicon Valley Bank Collapse Raises Questions
Goldman Sachs' Big Payout , From Silicon Valley Bank Collapse, Raises Questions. Goldman Sachs' Big Payout , From Silicon Valley Bank Collapse, Raises Questions. 'The New York Times' reports that Silicon Valley Bank (SVB) adviser Goldman Sachs is expected to make over $100 million following the collapse of the bank. 'The New York Times' reports that Silicon Valley Bank (SVB) adviser Goldman Sachs is expected to make over $100 million following the collapse of the bank. In the days leading up to SVB's demise, Goldman Sachs reportedly purchased $21.4 billion of the bank's debt. . 'NYT' reports that SVB was warned that it faced a possible downgrade by Moody's in early March. . At the time, SVB called on Goldman Sachs for advice on shoring up the bank's books. Ultimately, Goldman's two-part plan for SVB to raise capital and sell off its debt failed, and the bank collapsed. According to the 'NYT,' questions have been raised regarding Goldman Sachs' compensation and how it managed its relationship with SVB. According to the 'NYT,' questions have been raised regarding Goldman Sachs' compensation and how it managed its relationship with SVB. The government's extraordinary measures to safeguard the bank's depositors are expected to come with increased regulatory scrutiny. The government's extraordinary measures to safeguard the bank's depositors are expected to come with increased regulatory scrutiny. Meanwhile, prior to opening its investigation into the bank's collapse, the Justice Department unveiled a new pilot program to hold executives responsible for corporate wrongdoing. Lawmakers have called for clawbacks of bonuses that were paid to executives by the bank in addition to profits made from selling off stock in SVB's final days. Lawmakers have called for clawbacks of bonuses that were paid to executives by the bank in addition to profits made from selling off stock in SVB's final days. 'NYT' reports that SVB's failure to raise capital prior to Goldman Sachs' purchase of its debt ended up spooking the markets and ultimately led to the bank's collapse. 'NYT' reports that SVB's failure to raise capital prior to Goldman Sachs' purchase of its debt ended up spooking the markets and ultimately led to the bank's collapse

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