Santa Monica Team Continues Expansion to Support Growth of Region's Tech Sector
LOS ANGELES, Calif. ––July 8, 2016 —Silicon Valley Bank (SVB), the bank of the world's most innovative companies and their investors, announced the addition of two new bankers to its growing team: Ashley Fairon, Vice President and Relationship Manager, and Navid Shahrestani, Vice President and Relationship Manager. The team's expansion supports the region's growing number of software, hardware, life science, healthcare, and energy companies, as well as their investors. Silicon Valley Bank is the bank to private and public tech companies of all sizes, including more than 50 percent of all venture capital-backed companies in the US and two-thirds of the venture capital firms.
"Innovation in Los Angeles is booming," said Rob Freelen, Silicon Valley Bank's Market Manager for Los Angeles. "Silicon Valley Bank has been helping innovative companies succeed for more than three decades and in Los Angeles specifically for 22 years. The energy and growth in the LA market has reached an inflection point and we're thrilled to be a part of it."
Silicon Valley Bank opened its first office in Los Angeles in 1993, and has since grown to 75 professionals providing commercial banking, specialty lending, global treasury, valuation services, asset management, fund banking, research and private banking. SVB's Santa Monica location opened in May 2015 as a further expansion of SVB's presence in the area, which includes offices in Sherman Oaks, Irvine and San Diego.
Ashley Fairon is vice president for SVB's Los Angeles Growth team where she provides credit and other banking products to rapidly growing companies. Prior to SVB, Ashley was in syndications with MUFG Union Bank, focusing on deal structuring and sales. In 2013, she received the Rising Star Award from the California Independent Bankers Association.
As vice president of early-stage banking, Navid Shahrestani is responsible for the bank's pre-Series A venture clients in Los Angeles. He is actively engaged with early-stage entrepreneurs, venture capitalists and accelerators in the region. Prior to joining SVB, Navid worked at Wells Fargo where he was a financial analyst and relationship manager for the Corporate Tech, Media, and Telecom team focused on deal structuring and managing mid to large corporate technology companies. In 2015, Navid launched a social network called Young Venture Capital Los Angeles (YVCLA), a monthly gathering for the young angel and venture community in Los Angeles, which has grown from eight to 75 members in less than a year.
More information about Silicon Valley Bank's services is available at www.svb.com.
About Silicon Valley Bank
For more than 30 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.
Silicon Valley Bank is the California bank subsidiary and commercial banking operation of SVB Financial Group (Nasdaq: SIVB), and a member of the FDIC. Silicon Valley Bank and SVB Financial Group are members of the Federal Reserve System.