Subsidiary Provides Liaison Services to
SVB’s Global Financial Services
BEIJING, China and SANTA CLARA, Calif., October 12, 2010 – SVB
Financial Group (NASDAQ: SIVB), the parent company of Silicon Valley Bank and
financial partner to more than half of all venture capital-backed technology
companies in the United States, opened an international
subsidiary today in Beijing. SVB Business
Partners (Beijing) Co., Ltd. offers technology companies and venture capital
investors with in-market client service support; advisory services for
arranging RMB loans with local banks; and introductions
to Silicon Valley Bank, its affiliate in the U.S., for venture debt financing
and offshore banking services.
“SVB
Financial Group’s mission has always been to help entrepreneurs succeed,
wherever they are in the world,” said Ken Wilcox, CEO of SVB Financial
Group. “We have experienced a growing
entrepreneurial spirit in Shanghai and Beijing, and are committed to bringing
our financial expertise, industry knowledge and global network to innovative companies throughout the
country. A presence in Beijing will also
benefit our U.S.-based clients and venture capital partners who are eager to
expand in the region.”
Prior
to the opening of the new subsidiary in Beijing, SVB opened SVB Business
Partners (Shanghai) in 2005 to establish a consulting beachhead for SVB in
China and create a gateway between Shanghai and Silicon Valley. SVB expanded in China in 2009 with the
opening of a representative office in Shanghai’s Yangpu District and currently
manages a direct investment fund and a fund of funds for the Yangpu District
Government through SVB Capital, SVB Financial Group’s venture capital group. SVB is currently working toward the
establishment of a banking platform focused on technology and life science
companies in China.
SVB
Business Partners (Beijing) provides technology companies and venture funds
with:
- Advisory
services for arranging RMB loans with local banks
- Introductions
to Silicon Valley Bank, its affiliate in the U.S., for venture debt financing
and offshore banking services
- In
market client services for offshore banking clients, including venture fund
clients
- Various
networking events to help establish connections with Silicon Valley Bank’s
clients and partners worldwide
This subsidiary will not provide any direct lending,
deposit or investment services.
Michael
Yahng is the China Country Head for SVB Financial Group and oversees management
of SVB Business Partners (Beijing) and SVB Business Partners (Shanghai). Yahng has more than 30
years of experience in international finance and banking. Prior to joining SVB he was involved with
private equity fundraising and investments in China for TianDi Growth
Capital. Yahng is based in Shanghai and
Hong Kong and currently sits on the boards of Bank of Hangzhou, UPG, and First
Sino Bank, the only Taiwanese JV Bank in China.
“Beijing
is the government and banking capital of China and we are delighted to be part
of that ecosystem with the opening of our new office in the city’s Haidian
District,” said Yahng. “China continues
to be a key part of SVB’s international growth and we’re pleased to be able to
work with entrepreneurs and investors in both Beijing and Shanghai.”
Leading the
day to day operations of the SVB Business Partners (Beijing) office is Managing
Director Daniel Quon. With nearly 30 years of experience in banking, a
significant portion in Asia, Quon is considered one of SVB’s experts on
China. He has developed and managed
SVB’s relationships in China for many years and was instrumental in the opening
of SVB Business Partners (Shanghai).
In
addition to its subsidiaries in China and offices throughout the United States,
SVB Financial Group has operations in India, Israel and the United Kingdom,
through which it offers its clients access to the company’s network of
relationships with technology and life science companies and venture capital
investors worldwide.
About
SVB Financial Group
For nearly three decades, SVB Financial Group and its
subsidiaries, including Silicon Valley Bank, have been dedicated to helping
entrepreneurs succeed. SVB Financial Group is a financial holding company that
serves companies in the technology, life science, venture capital, private
equity and premium wine industries. Offering diversified financial services
through Silicon Valley Bank, SVB Analytics, SVB Capital, SVB Global and SVB
Private Client Services, SVB Financial Group provides clients with commercial,
investment, international and private banking services. The company also offers
funds management, broker-dealer transactions and asset management, as well as
the added value of its knowledge and networks worldwide. Headquartered in Santa
Clara, Calif., SVB Financial Group (NASDAQ:
SIVB) operates through 26 offices in the U.S. and international operations in
China, India, Israel and the United Kingdom. More information on the company
can be found at www.svb.com.
Silicon Valley Bank is the California bank subsidiary and the
commercial banking operation of SVB Financial Group. Banking services are provided by Silicon
Valley Bank, a member of the FDIC and the Federal Reserve System. SVB Financial
Group is also a member of the Federal Reserve System. SVB Business Partners
(Shanghai) Co., Ltd. and SVB Business Partners (Beijing) Co., Ltd. are
subsidiaries of SVB Financial Group. SVB
Business Partners (Shanghai) Co., Ltd., SVB Business Partners (Beijing) Co.,
Ltd. and SVB Financial Group are not licensed to conduct banking business in
China and do not engage in unlicensed banking activities. SVB Business Partners (Shanghai) Co., Ltd.
and SVB Business Partners (Beijing) Co., Ltd. do not provide lending, deposit
or investment advisory services. All
international activity is subject to local rules and regulations.