SVB’s UK business becomes a banking subsidiary, reflecting strong growth

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Company names Erin Platts CEO of Silicon Valley Bank UK, appoints new board

LONDON, September 21, 2022 /PRNewswire/ — SVB Financial Group (SVB) (Nasdaq: SIVB), the innovation economy finance partner and parent of Silicon Valley Bank, today announced that its UK branch has become a wholly-owned subsidiary of Silicon Valley Bank, due to significant growth in the ‘activity. Silicon Valley Bank UK Limited is led by CEO Erin Platts, formerly EMEA Director of SVB and President of the UK branch. As a wholly owned subsidiary, Silicon Valley Bank UK has appointed a UK Board of Directors to provide oversight of the business.

Greg BeckerCEO of SVB Financial Group said: “At SVB, we have seen significant growth in the innovation economy in the UK over the past decade. As a result, SVB has also experienced exceptional growth in the UK, which has led to the transition to a subsidiary based on our size Under Erin’s leadership and vision, we look forward to seeing Silicon Valley Bank UK continue to grow in the UK and Europe and bring the full power of the SVB platform to our innovative customers.”

Since entering the UK market in 2004, Silicon Valley Bank has played a leading role in growing the country’s innovation economy and served as a key financial partner for fast-growing innovative companies and investors. across the UK and Europe, including Snyk, Wise and Atomico. SVB has experienced strong growth over the past five years, with 650 employees across five countries in the UK and EMEA, including Germany and Denmarkwhere offices were opened in 2018 and 2019 respectively. The spin-off of the UK branch is the culmination of this growth and reflects Silicon Valley Bank’s success and commitment to its UK and regional based customers. EMEA.

Platts has been with SVB for over 18 years and has played a key role in launching and growing Silicon Valley Bank’s presence in the UK since 2007. She is responsible for leading and growing the bank’s business in UK and EMEA and will continue to work as an active champion of diversity, equity and inclusion in the innovation and finance sectors.

Silicon Valley Bank UK’s Board of Directors will consist of seven members and will be chaired by Darren Pope, who brings more than 30 years of banking experience to the role. He previously served as Chief Financial Officer at TSB Bank Plc, having played a leading role in the conception and sale of the TSB business of Lloyds Bank plc and its subsequent IPO and takeover.

The pope will be joined by Murria wine (OBE), Astrid Grayand Helen Heslop, all four of whom will serve as independent non-executive directors. Collectively, the Silicon Valley Bank UK Board of Directors brings a wealth of experience in credit risk, banking and entrepreneurship and will provide advice on future strategic growth plans, international expansion and governance of Silicon Valley Bank UK. CEO of Silicon Valley Bank UK Erin PlattsCFO EMEA Gavin Hewitt and Director of EMEA Operations Patrick Flynn will become executive directors of the board.

Erin PlattsCEO of Silicon Valley Bank UK Limited said: “As we have expanded our role in the UK as a go-to bank for innovators and investors, we have reached an inflection point and a milestone in our growth; yet the focus of our business remains the same: to provide a comprehensive financial solution platform for our customers and the growing innovation economy in EMEA.Silicon Valley Bank UK will continue to help its customers increase their chances of success and s strive to be the most sought-after partner in helping innovators, companies and investors achieve extraordinary results.

Added dishes“Our board of directors, comprised of world-class technology and banking leaders, brings significant experience, knowledge and diverse perspectives to Silicon Valley Bank UK and SVB as a whole. We believe their guidance will help us achieve our goals to deliver unparalleled value to our customers and remain the partner of choice for the global innovation economy.”

About SVB

SVB is the financial partner of the innovation economy, helping the world’s most innovative individuals, investors and companies achieve their ambitious goals. SVB’s businesses – Silicon Valley Bank, SVB Capital, SVB Private and SVB Securities – together provide the services that dynamic, fast-growing clients need as they grow, including commercial banking, venture investing, wealth planning and investment banking. Based in Santa Clara, California, SVB operates in innovation centers around the world. Learn more about svb.com.

© 2022 SVB Financial Group. All rights reserved. SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, MAKE NEXT HAPPEN NOW and the chevron are trademarks of SVB Financial Group, used under licence. Silicon Valley Bank UK Limited is registered in England and Wales at Alphabeta, 14-18 Finsbury Square, London EC2A 1BR, UK (company number 12546585). Silicon Valley Bank UK Limited is authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (firm reference number 543146). Silicon Valley Bank UK Limited is a subsidiary of Silicon Valley Bank, a Delaware company and subsidiary of SVB Financial Group. SVB Financial Group and its subsidiary Silicon Valley Bank are members of the Federal Reserve System and Silicon Valley Bank is a member of the FDIC. [SIVB-C]

SOURCE SVB Financial Group

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