HSBC Innovation Banking appoints Emily Turner as the new CEO, marking a new era for the financial institution.
- Turner transitions from Citi, where she held a pivotal role as Head of Business Development.
- She takes over from Erin Platts, who managed the organisation through a challenging period.
- HSBC Innovation Banking is focused on strengthening its position in the UK tech ecosystem.
- Anticipation rises for Turner’s contributions to HSBC’s growth and international expansion.
Emily Turner has been appointed as the new CEO of HSBC Innovation Banking, signifying a fresh chapter for the institution. Turner steps into the role after an accomplished tenure at Citi, where she was Head of Business Development. Her experience over more than a decade saw her building Citi Ventures UK and spearheading the Global Institutional Strategic Investing group, as well as nurturing several start-up ventures within Citi’s internal incubator.
She replaces Erin Platts, who adeptly navigated the London-based bank during a complex phase in its evolution from Silicon Valley Bank UK following its parent firm’s collapse. This transition led to a rescue arrangement with HSBC last year, further stabilising its operations. Turner’s leadership is anticipated to continue this stabilisation and drive future growth.
Turner is set to begin her role in February 2025, subject to regulatory approval. In the interim, veteran Simon Bumfrey will act as CEO. Turner expressed her enthusiasm for the new role, highlighting her admiration for the bank’s client-focused strategy and its established reputation within the innovation ecosystem. “I am excited to join HSBC Innovation Banking,” she stated, keen on advancing its track record of supporting founders, companies, and investors at various stages.
This appointment comes as HSBC Innovation Banking experiences accelerated growth, both within the UK and on a global scale. Under the HSBC umbrella, the bank aims to enhance its impact within the tech sector and explore international markets. Recently, a name change from SVB UK was unveiled, and the subsidiary posted substantial financial results – a 56% rise in net operating income to £230 million by December’s end, alongside a 9% increase in customer loans to £6.3 billion. These figures are partly attributed to favourable conditions such as rising interest rates.
Stuart Tait, Head of Commercial Banking at HSBC UK, underscored the strategic importance of HSBC Innovation Banking in their broader growth objectives. Turner is expected to leverage this foundation and further augment HSBC’s market influence across the UK and Nordic regions, where the bank already supports a significant portion of leading tech companies and investment funds.
Emily Turner’s appointment is poised to foster further growth and stability for HSBC Innovation Banking.
