HSBC Innovation Banking has named Emily Turner as its new CEO, following her impressive tenure at Citi.
- Turner will replace Erin Platts, who is transitioning to a role at Octopus Ventures.
- Emily Turner departs Citi after 13 years, bringing substantial experience in business development and investing.
- HSBC Innovation Banking aims to consolidate its growth and expand internationally under Turner’s leadership.
- The appointment comes amid rising income and an expanding loan portfolio at HSBC Innovation Banking.
HSBC Innovation Banking has appointed Emily Turner as its new CEO, marking a significant leadership change at a critical time for the lender, a key player in the UK’s technology ecosystem. Turner arrives from Citi, where she held the position of Head of Business Development. Her impressive track record spans 13 years, during which she founded and advanced Citi Ventures UK and led Citi’s Global Institutional Strategic Investing group.
Turner steps into the role following Erin Platts, who guided the bank through challenging times as Silicon Valley Bank UK faced significant upheaval, culminating in a pivotal rescue by HSBC. Platts leaves a legacy of stability and growth, now transitioning to Octopus Ventures. Turner will officially assume her role in February 2025, subject to regulatory approval, with Simon Bumfrey stepping in as the interim CEO.
Turner expressed her enthusiasm for joining HSBC Innovation Banking, emphasising her interest in strengthening the bank’s notable client-centric approach. “I’m excited to be joining HSBC Innovation Banking and to help build on its success to date,” Turner stated, recognising the bank’s swift establishment as a trusted partner in the innovation sector.
HSBC Innovation Banking is experiencing a phase of accelerated expansion, buoyed by a recent 56% increase in net operating income for the year ending December. The bank, once known as SVB UK, has effectively positioned itself as a leader in supporting growth within the UK tech scene. Alongside this growth, the bank’s loan portfolio expanded by 9% to £6.3 billion, aided by favourable interest rates.
Stuart Tait, Head of Commercial Banking at HSBC UK, welcomed Turner’s appointment, highlighting the strategic importance of her role in the growth trajectory of HSBC Innovation Banking. Tait pointed out that HSBC supports a considerable portion of top tech companies across the UK and the Nordics, reinforcing its market-leading position.
Emily Turner’s appointment as CEO represents a strategic milestone for HSBC Innovation Banking, setting the stage for continued growth and expansion.
