When a group of former executives from Silicon Valley Bank joined HSBC in 2023, they became the core of an innovation banking team catering to startups and venture-backed enterprises.
The team started without any clients. But they had the backing of an international bank and a newfound appreciation for what it takes to get a business off the ground.
"We all took a massive leap of faith coming off of a period of incredible disruption professionally, but also personally," said Katherine Andersen, U.S. head of life science and healthcare banking at HSBC. She held a similar role at SVB before its collapse. "I have much more appreciation and perspective, let's say, in serving the innovation ecosystem—what it is to build and launch and scale a startup."
Led by SVB executive David Sabow in the U.S., HSBC's innovation banking team grew its active client base more than 60% between December 2023 and June 2025. Over the same period, the team also posted a 50%-plus gain in deposits and a 25%-plus gain in loan commitments, as well as a 50% compound annual growth rate in annualized revenue. Members also launched a new unit focused on the earliest-stage startups in the U.S. following HSBC's exit last year from the general U.S. business banking market.
"It gave us a lot more resources to really double down on the startup banking," said Sunita Patel, a former SVB exec who is now head of investor coverage and business development, U.S., for HSBC.
A focus on new business was not the only priority for the leaders of the innovation banking team.
They learned, for example, about HSBC and how its myriad products might fit the needs of their clients, particularly as their companies matured. Some clients are starting to do business overseas, while others may have experienced business exits that make their founders candidates for private banking.
"We were kind of [like] kids in a candy store a little bit because it's just such a huge global platform with all the bells and whistles. And so that was exciting," Andersen said.
Team leaders also recognized they needed to know the people within HSBC. Among their first priorities as high-profile hires, for example, was reaching out and building trust with their new colleagues, according to Andersen. "The first year plus, honestly, was making it abundantly clear that we're here not to just build innovation banking, but to build HSBC."
Information has flowed both ways. While they learned about HSBC, the innovation banking team educated colleagues on how a large bank can approach early-stage and entrepreneur-led companies, and they advocated for changes that simplify the process for busy founders, whether they're just opening accounts or borrowing money.
"They don't want to be bogged down in banking and finance. They're trying to solve much bigger problems," said Melissa Stephanis, another SVB veteran and now U.S. head of technology banking at HSBC.
Team Members
David Sabow, Global Head of Innovation Banking
Sunita Patel, U.S. Head of Investor Coverage & Business Development
Bekah Hanlon: Global Head of Innovation Banking Business Management & Operations; U.S. Head of Relationship Advisors
Melissa Stephanis: U.S. Head of Technology Banking
Katherine Andersen: U.S. Head of Life Science and Healthcare Banking
Prasant Chunduru: U.S. Head of Technology Credit Solutions
Kevin Longo: U.S. Head of Life Science and Healthcare Credit Solutions
