HSBC has tapped a former Citi veteran, Emily Turner, to become CEO of its Innovation Banking UK unit, the lender announced Thursday. The unit grew from the U.K. arm of Silicon Valley Bank, which HSBC bought for £1 after SVB collapsed in 2023.

Turner will take the helm of the unit in February, replacing Erin Platts, who announced in July she was leaving the lender to join Octopus, a venture capital firm, in January.

Simon Bumfrey, a former SVB UK executive and interim CEO of HSBC Innovation Banking since October, will resume his role as technology and life sciences head at the innovation banking arm, according to Reuters. 

“I’m excited to be joining HSBC Innovation Banking at this crucial juncture in its growth journey,” Turner said in a statement Thursday. “HSBC Innovation Banking has quickly established itself as a go-to partner for the innovation ecosystem with a track record of supporting founders, companies and investors at all life stages.” 

In a LinkedIn post, Turner called HSBC and its innovation unit “a business and team I have held in high esteem for many years,” adding she is “humbled to be leading its next chapter.” 

“I look forward to getting started in the new year, and further committing to supporting founders, investors and the broader UK innovation ecosystem,” she wrote.

Prior to joining HSBC, Turner worked at Citi for 13 years, most recently as head of business development, according to her LinkedIn profile. Throughout her time there, she helped to build new capabilities in digital assets and venture investing, and developed several early-stage companies as part of the bank’s internal incubator, according to HSBC’s release. She previously worked at UBS, ABN Amro, Merrill Lynch and consultant McKinsey.

“Thank you to those that took a chance on me - in your team, as your manager, as an investor, as your human API to a large bank, as your thought partner, and as your friend,” Turner wrote on LinkedIn, presumably to Citi colleagues. “I will be rooting for your continued success in the future,” she said in a parting note.  

Platts, who led HSBC’s technology banking unit for roughly a year and a half, will continue to support the bank as a special adviser after she steps down from her role next month. 

“I am delighted that Emily Turner is joining HSBC Innovation Banking UK as the new CEO next year,” Platts wrote in a LinkedIn post Thursday. “Having known Emily for several years I am both confident she is the right person to lead the next chapter of the business and excited to see what she and the brilliant team do next!”