SANTA CLARA, Calif. and SHANGHAI - September 1, 2009 - Silicon Valley Bank, the premier commercial bank for companies in the technology, life science, venture capital and premium wine industries, opened a representative office in Shanghai's Yangpu District today.
"Our long-term commitment to Chinese entrepreneurs, technology,
life science and venture capital firms is to offer the same
expertise, connections and banking services we provide to our
clients in the U.S.," said Ken Wilcox, CEO of SVB Financial Group
and Silicon Valley Bank. "Together with the Yangpu District
Government and many others, we are working on several
ground-breaking initiatives that will help build the
infrastructure for a vibrant innovation economy in China."
The addition of a representative office in Shanghai is Silicon
Valley Bank's next step toward building a banking platform
focused on technology and life science companies in China.
SVB Financial Group, the parent company of Silicon Valley Bank,
has been expanding in global markets for many years and has a
variety of business development, consulting and financial
operations in China, India, Israel and the UK, all of which are
important markets for the technology, life science and venture
capital industries it serves. Silicon Valley Bank is widely
recognized for its ability to develop innovative approaches to
meet the unique financial needs of its clients.
"Silicon Valley Bank has more than 26 years of experience helping
entrepreneurs and emerging, dynamic technology start-ups grow
into successful companies, and we want to share that in China,"
said Mike Yahng, the chief representative of the Silicon Valley
Bank Shanghai Representative Office. "Our expertise is banking
innovative companies, and this representative office gets us one
step closer to our goal of offering financing solutions for
China's innovative technology and life science companies."
Silicon Valley Bank's new Shanghai representative office will
give Chinese technology companies an outlet to meet and learn
about Silicon Valley Bank, however it is not a bank branch and
will not provide banking services. Through the representative
office, Silicon Valley Bank will facilitate information flow to
and from Silicon Valley Bank in the U.S. and help introduce
Silicon Valley Bank to the Chinese entrepreneurial and technology
SVB Financial Group began engaging with venture capitalists and
technology companies across Asia in the 1990s. In 2005, the
company opened SVB Business Partners Shanghai to create a gateway
between Shanghai and Silicon Valley for its clients and partners.
Having successfully established a consulting beachhead, SVB has
been focusing on building strategic alliances with local partners
and the Chinese government, especially in the technology and life
About Silicon Valley Bank
Silicon Valley Bank is the premier commercial bank for companies
in the technology, life science, venture capital and premium wine
industries. SVB provides a comprehensive suite of financing
solutions, treasury management, corporate investment and
international banking services to its clients worldwide. Through
its focus on specialized markets and extensive knowledge of the
people and business issues driving them, Silicon Valley Bank
provides a level of service and partnership that measurably
impacts its clients' success. Founded in 1983 and headquartered
in Santa Clara, Calif., the company serves clients around the
world through 27 U.S. offices and international operations in
China, India, Israel and the United Kingdom. Silicon Valley Bank
is a member of global financial services firm SVB Financial Group
(Nasdaq: SIVB), with SVB Analytics, SVB Capital, SVB Global and
SVB Private Client Services. More information on the company can
be found at www.svb.com.
Silicon Valley Bank Shanghai Representative Office will conduct
liaison activities for Silicon Valley Bank pursuant to the
regulations and guidelines of the CBRC.
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. is a subsidiary of SVB
Financial Group. Neither SVB Business Partners (Shanghai) Co. Ltd
nor SVB Financial Group is licensed to conduct banking business
in China and neither entity engages in unlicensed banking
activities. SVB Business Partners (Shanghai) Co. Ltd. does not
provide lending, deposit or investment advisory services. All
international activity is subject to local rules and