11 April 2023

HSBC USA hires Silicon Valley veterans to lead new dedicated offering for innovation economy

  • David Sabow to lead effort, joined by Sunita Patel and other prominent industry veterans
  • Team will focus on coverage for technology and healthcare, as well as investors across the innovation ecosystem

(NEW YORK) - HSBC USA announced today that it has hired Silicon Valley veterans, led by David Sabow, to establish a dedicated banking practice focused on the innovation economy. Sabow will be joined by Sunita Patel who will oversee investor coverage and business development across the technology and healthcare market. Other senior team members include Katherine Andersen who will lead life sciences and healthcare, as well as Melissa Stepanis who will oversee technology. This offering will bring HSBC’s expansive product suite and unmatched international capabilities to support companies in the innovation ecosystem at every stage of their journey.

“As we look to grow our business, this offering allows us to connect the innovation ecosystem with the size, strength and international network of HSBC,” said Michael Roberts, CEO US and Americas at HSBC. “Early stage companies should have a partner that can support them at every phase of their growth and we think that HSBC is best placed to help do that.”

The new offering will sit within the bank’s US Commercial Banking business and remain a distinct effort focused on serving companies in technology and healthcare, as well as the investors who support them. HSBC has initially assembled a team of more than 40 bankers in the Bay Area, Boston and New York City as part of this initiative.

“We know that companies are scaling globally earlier in their lifecycle and we want to bring the full breadth of our domestic and international capabilities to be the bank for entrepreneurs,” said Roberts. “This effort demonstrates our commitment to serving the innovation economy.”

“I could not be more excited to join HSBC as they channel the full strength of their platform toward the innovation economy,” said Sabow. “HSBC’s focus on both clients and culture is truly unique for an institution of their size, and we are looking forward to creating something special as the market prepares for its next phase of growth.”

The news comes as HSBC recently purchased the UK operations of Silicon Valley Bank, helping to strengthen its ability to serve innovative and fast-growing firms. The new effort will be closely aligned with the UK arm’s efforts.

David Sabow

David Sabow most recently led Technology and Healthcare Banking for Silicon Valley Bank serving the financial needs of SVB’s clients across the US and Canada. In this role, he drove the sales and marketing strategy and oversaw the business development team focused on venture capital relationship management and new opportunity origination. Prior to joining Silicon Valley Bank, David spent nine years in the life science investment banking practice at Canaccord Genuity, with responsibility for both domestic and international transactions across the life science and healthcare spectrum, specializing in public financings and M&A transactions. Before Canaccord, David worked as a relationship manager with U.S. Bank.


Sunita Patel

Sunita Patel most recently served as the Chief Business Development Officer for Silicon Valley Bank. In that role, she oversaw investor coverage and sales originations. With more than 25 years of experience in lending to companies across the innovation economy, Sunita is a highly regarded leader with an expansive network across the venture ecosystem. Previously, Sunita served as President of the Technology and Life Sciences division at Comerica and, before that, led their venture capital group for 20 years.


Katherine Andersen

Katherine Andersen most recently served as Head of US Life Science and Healthcare at Silicon Valley Bank, which includes management of its accelerator/growth, corporate banking, sponsor finance and institutional leveraged finance teams. She also sat on the Board of Directors for SVB’s Joint Venture in China, SPD Silicon Valley Bank. Prior to SVB, Katherine was a Senior Vice President for Wells Fargo Bank leading the life sciences business development and relationship management efforts in the Northeast. Prior to Wells, she held various positions across mergers and acquisitions, finance, equity derivatives, audit, and management while at Affiliated Managers Group, Merrill Lynch, GE Corporate Audit Staff and GE Capital.


Melissa Stepanis

Melissa Stepanis was most recently the head of Silicon Valley Bank’s national Technology Credit Solutions organization and has over 25 years of experience serving the innovation economy, building client relationships, advising companies on strategic growth, and tailoring financial solutions with a focus on debt financing for technology companies. Melissa is active in supporting entrepreneurial organizations and events throughout the New York metro area with a focus on building a network of executives, entrepreneurs and board relationships dedicated to the innovation economy.


Media enquiries to:

Matt Ward
US Communications

About HSBC

HSBC USA Inc. (HUSI) is a Maryland corporation and its principal business is HSBC North America Holdings Inc. is the holding company for HSBC Holdings plcs operations in the United States. The company’s businesses serve customers in the following key areas: wealth and personal banking, commercial banking, private banking, and global banking and markets.

HSBC Bank USA, National Association (HSBC Bank USA, N.A.) serves customers through wealth, personal banking, commercial banking, private banking, and global banking and markets segments. As of the close of business on December 31, 2021 it operated bank branches in: California; Washington, D.C.; Florida; New Jersey; New York; Virginia; and Washington. HSBC Bank USA, N.A. is the principal subsidiary of HSBC USA Inc., a wholly-owned subsidiary of HSBC North America Holdings Inc. In the United States, deposit products are offered by HSBC Bank USA, N.A., Member FDIC, investment and brokerage services are provided through HSBC Securities (USA) Inc., (Member NYSE/FINRA/SIPC) and insurance products are provided through HSBC Insurance Agency (USA) Inc.

HSBC USA Inc. (HUSI) is a Maryland corporation and its principal business is to act as a holding company for its subsidiaries including HSBC Bank USA, N.A. Through HSBC Bank USA, N.A. and its subsidiaries, HUSI offers a full range of traditional banking products and services to individuals, including high net worth individuals, small businesses, corporations, institutions and governments. HSBC USA Inc. is a wholly-owned subsidiary of HSBC North America Holdings Inc.

HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 64 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$2,958bn at 31 December 2021, HSBC is one of the world’s largest banking and financial services organizations.