Silicon Valley Bank

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  Silicon Valley Bank
logo
Country United StatesUnited States United States
Seat Santa Clara , California
legal form
ISIN US78486Q1013
founding 1983
Website svb.com
Business dataTemplate: Infobox credit institute / maintenance / data out of dateTemplate: Infobox credit institute / maintenance / year missing
management
Corporate management

Greg Becker, CEO Roger F. Dunbar, President Michael R. Descheneaux

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Silicon Valley Bank (short and SVB ) is a US-based bank in Silicon Valley , the high-tech - companies and start ups promotes. It is a subsidiary of the SVB Financial Group . The bank has financially supported more than 30 thousand startups. SVB is on the list of the largest banks in the United States and is the largest bank in Silicon Valley with a market share of 25.9%. (As of June 30, 2016) The bank has 29 offices in the United States and operates in Hong Kong , China , India , Israel and the United Kingdom .

history

The bank was founded in 1982, the first office opened in 1983. The main strategy of the bank was to deposit gathering of the transactions by venture capital funded. She then expanded into banking and financed venture capitalists herself and added services to help clients in their start-up phase.

Another office was opened in San José in 1988 . In 1993, founder and CEO Roger V. Smith was replaced by John C. Dean, and Smith was named vice president. Smith left the bank in 1994 to form the Smith Venture Group.

In 2001 the bank acquired Alliant Partners for $ 100 million.

In 2002 the bank began to expand in the private banking business, which among other things was done for wealthy founders and entrepreneurs.

In 2004 the bank entered international business and opened subsidiaries in Bangalore (India) and London (Great Britain). The bank began operating in the UK in 2006 and opened its first branch there in 2012.

In December 2008, SVB Financial received a $ 235 million investment from the United States Treasury Department under the Troubled Asset Relief Program . The Treasury Department received 10 million dividends from Silicon Valley Bank. In December 2009, the bank repurchased the outstanding shares and warrants from the government for an amount of $ 300 million.

In March 2011, the bank was named Bank of the Year by the Export-Import Bank of the United States . In April, Ken Wilcox, who had been CEO since 2000, left his position as CEO and was replaced by Greg Becker.

In November 2012, the bank announced a joint venture with Shanghai Pudong Development Bank (SPDB) to provide technology start-ups with more capital. In July 2015, the joint venture was approved by the China Bank Regulatory Commission (CBRC). The license allows the joint venture to provide the bank's services and products in a local Chinese currency.

Michael R. Descheneaux became President of the bank in March 2017.

Web links

Individual evidence

  1. ^ Boudreau, John: "Silicon Valley Bank works to import startup culture to China". In: San Jose Mercury News. October 16, 2011, accessed September 26, 2017 .
  2. ↑ Big growth in Silicon Valley deposits for JP Morgan but Comerica takes a hit. Retrieved September 26, 2017 (English).
  3. ^ Peter Ryan: The Story of Silicon Valley Bank. In: Peter Ryan. February 2, 2016, accessed September 26, 2017 .
  4. ↑ Ben Rooney: Microsoft's Karia Jumps Ship to Silicon Valley Bank. In: WSJ. November 14, 2012. Retrieved September 26, 2017 (American English).
  5. ^ CEO Greg Becker on Silicon Valley Bank's bubble-proof growth. Retrieved September 26, 2017 (English).
  6. ^ Roger V. Smith: Executive Profile & Biography - Bloomberg. Retrieved September 26, 2017 (English).
  7. ^ Silicon Valley Bank: Silicon Valley Bank to Acquire Merger & Acquisition Advisor Alliant Partners. Retrieved September 26, 2017 (English).
  8. ^ Silicon Valley Bank targeting San Jose for private banking. Retrieved September 26, 2017 .
  9. ↑ Silicon Valley Bank extends reach to Bangalore, London. Retrieved September 26, 2017 (English).
  10. ^ Silicon Valley Bank: The bank for startups. Retrieved September 26, 2017 (English).
  11. ^ "SVB Financial Becomes Second Local Bank To Partake In TARP Program". In: siliconbeat.com. December 3, 2008, accessed September 26, 2017 .
  12. ↑ Silicon Valley Bank's parent to repay all its $ 235M in TARP money. Retrieved September 26, 2017 (English).
  13. ^ Export-Import Bank of the United States: Silicon Valley Bank Wins "Bank of the Year" Award from Ex-Im Bank. Retrieved September 26, 2017 (English).
  14. ^ Muncaster, Phil: "Silicon Valley comes to China to spur tech innovation". In: The Register. August 20, 2012, accessed September 26, 2017 .
  15. ↑ Silicon Valley Bank: Silicon Valley Bank's Joint Venture in China Receives License to Transact in Local Currency. Retrieved September 26, 2017 (English).
  16. ↑ Silicon Valley Bank: Silicon Valley Bank Names Michael Descheneaux President and Daniel Beck CFO. Retrieved September 26, 2017 (English).
  17. ↑ Silicon Valley Bank and SVB Financial Group name new president, CFO. Retrieved September 26, 2017 (English).