Update from SVB’s CEO - March 2020

To our clients,

We are in unprecedented times. At SVB, we know from more than three decades of working alongside dynamic companies and investors that in turbulent environments partnership, dependability and flexibility matter, and the hallmark of a true partner is the act of standing with clients and supporting them in the most challenging times.

The work that you, our clients, do to develop and fund innovative solutions to the world’s biggest problems is more critical now than ever. The innovation economy has been the source of some of the most important developments in our lifetimes, and we believe that your contributions will only become more important in the years to come. Our mission is to support your efforts to keep innovating and to bring your ideas, products and solutions to market. And at times like these, it’s more important than ever that we maintain our support for our clients.

We want to assure you that SVB is open for business. We continue to serve our clients while doing everything we can to protect the health and safety of our employees, clients and partners around the world. We are confident in our ability to seamlessly deliver the services and value you count on from SVB, even as we activate our business continuity plans and do our part to help slow the spread of COVID-19 by implementing travel restrictions, virtual meetings and work from home plans. We have a long track record of maintaining credit discipline in good times and standing by our clients in bad times. We encourage you to monitor our COVID-19 updates by visiting our Newsroom on svb.com.

We also want you to know that we are confident that our strong financial foundation will allow us to navigate any challenges ahead as the markets experience volatility.

As this fluid situation evolves, we are here to help you. Please reach out to your relationship manager or client service team if there is anything we can do to support you. We also hope you will take advantage of our research and advisory teams’ insights and perspectives on the current markets.

Thank you for your business,

Greg Becker
CEO, Silicon Valley Bank

Mike Descheneaux
President, Silicon Valley Bank

About the Author

Greg has been a champion of the innovation economy since he joined SVB in 1993 as a banker to fast-growing technology companies. Today, he is the president and CEO of the world’s only financial institution dedicated to the innovation sector around the globe. Greg has led the expansion of the company, now the nation’s 14th largest bank, to include four primary businesses serving the innovation sector: commercial banking, fund management, private banking and wealth management, and investment banking. 
 
Under Greg’s leadership, SVB has continued to outpace the growth rate of other banks and financial services providers. SVB joined the S&P 500 in 2018 and has been named one of the best banks in America, one of the fastest growing public companies in the US, and one of the best places to work. SVB has been included in the Bloomberg Gender-Equality Index for the last four years and is consistently among the Top Corporate Philanthropists in its headquarters’ region. Working with employees, clients, and partners, Greg has also prioritized investments and initiatives to increase diversity and inclusion at SVB and across the larger innovation ecosystem, foster economic development and support community well-being. 
 
Prior to taking on the SVB President and CEO role in 2011, Greg held a variety of leadership positions, including co-founding SVB Capital, which manages some of the world’s top-rated venture fund-of-funds and direct investment funds.  
 
Greg is a Class A Director for the Federal Reserve Bank of San Francisco, the Chairman of TechNet, and a member of the executive council of the Silicon Valley Leadership Group (SVLG), where he was the Chairman from 2014-2017. He serves on the One Mind at Work Guiding Council and was a member of the US Department of Commerce’s Digital Economy Board of Advisors from 2016-2017. Greg earned a bachelor’s degree in business from Indiana University.