LONDON, HERZLIYA, Israel and SANTA CLARA, Calif. - September 23, 2009 - SVB Financial Group (SVB), the parent company of Silicon Valley Bank and financial partner to technology companies and venture capitalists worldwide, hired Phil Cox to run its operations across the UK, Europe and Israel. In this capacity, Cox is responsible for SVB's existing UK and Israel offices and he will lead the continued growth and geographic expansion of the business in these regions.
Technology, life science and venture capital investors in the UK and Israel benefit from SVB's 26 years of experience dedicated to helping entrepreneurial companies succeed. SVB opened operations in the UK in 2004 and Israel in 2008 to partner with local, fast growth companies in need of debt, commercial banking and other financial services.
"We continue to build our capabilities in all the global markets we serve, with a goal of offering technology and life science entrepreneurs around the world the same services we offer our clients in the US," said Greg Becker, president of Silicon Valley Bank. "Phil's extensive European banking experience will further our development of a global banking platform designed to reach local companies and help them achieve their innovative goals."
SVB Financial Group UK Ltd. is based in London and provides UK-based technology, life science and venture capital firms access to sources of diverse debt capital including venture debt, acquisition financing, working capital/ receivables financing, capital call lines, growth capital and capex financing. The UK team also offers access to foreign exchange services, trade finance and U.S. banking for subsidiaries.
SVB has been working with companies and investors in Israel since the late 1990s. SVB Israel Advisors Ltd. is headquartered in Herzliya and was opened to establish a more constant presence in the local market. Today, SVB in Israel offers the same products and services to local companies that the UK operation provides.
"Our goal in the UK and Israel is to leverage the power of SVB's connections and expertise for entrepreneurial companies here," said Phil Cox, head of the UK and Israel for SVB Financial Group. "We will be concentrating our initial efforts on taking SVB to the next stage in these regions by developing a full commercial banking platform for start-ups and growth companies."
Cox has worked in the banking sector for more than 20 years and brings a wealth of experience and leadership to SVB Financial Group. Prior to joining SVB, he was the head of commercial banking at Bank of Scotland in London, a division of Lloyds Banking Group. In this role, he was responsible for the relationship management, origination and operational aspects of the business. Previously, Cox was with NatWest, a member of the Royal Bank of Scotland Group, for 23 years and held a variety of positions, including managing director of Transport and Infrastructure Finance, regional managing director of the North of England region and the same position for the South West and Wales business. Cox is both ACIB (Chartered Institute of Bankers) and AMCT (Corporate Treasurers) qualified.
About SVB Financial Group
For 25 years, 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 27 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.
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Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB Private Client Services is a division of Silicon Valley Bank. SVB Financial Group is also a member of the Federal Reserve System.
This material has been issued by and approved by SVB Financial Group UK Ltd. as defined in Section 21 of the Financial Services and Markets Act 2000. SVB Financial Group UK Ltd. is registered in England and Wales at 34 Dover Street, London, W1S 4NG, U.K. under No. 5572575 and is authorised and regulated by the Financial Services Authority ("FSA"). The services which are the subject of this material are not available to retail clients as defined by the FSA. The material is for information purposes only and should not be considered as an offer to sell or a solicitation to buy any of the investments mentioned within, or to make any investment decision.
SVB Israel Advisors Ltd. is a subsidiary of SVB Financial Group. Neither SVB Israel Advisors nor SVB Financial Group is licensed to conduct banking business or provide other financial services in Israel and neither engages in unlicensed banking activities. Banking services are provided by Silicon Valley Bank, a member of FDIC.