HERZLIYA, Israel, and SANTA CLARA, Calif., January 28, 2008 - SVB Financial Group (Nasdaq: SIVB), the parent company of SVB Silicon Valley Bank and financial partner to more than half of all venture capital-backed technology companies in the United States, announced the opening of its fourth international subsidiary today. SVB Silicon Valley Bank now provides Israeli-based high growth technology companies and private equity firms access to customized financial services through SVB Israel Advisors Ltd.
"We've been actively involved in the highly innovative Israeli market for 10 years. Opening an office here is a natural next step and a great opportunity for us," said Kenneth Wilcox, president and CEO of SVB Financial Group. "SVB is one of the few financial services firms that truly understands what it takes to finance emerging technology companies. With a full-time local staff in Israel, we will greatly increase our ability to help entrepreneurs here succeed."
SVB's operation in Israel enables the company to more readily offer its services to local technology firms and their investors. SVB Israel Advisors, like its parent company, gives Israeli-based clients access to financial services, including debt financing, deposits and treasury management and provides its clients with the guidance, introductions and support they need to grow.
Leading SVB Israel Advisors' local office is General Manager Ran Arad, a 20-year veteran in the software and investments fields. Formerly a principal with Carmel Ventures, a leading Israeli venture capital firm, Arad is responsible for SVB's business development efforts and venture capital relationships in Israel.
In addition to offices throughout the United States, SVB Financial Group has operations in China, India 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 25 years, SVB Financial Group and its subsidiaries, including SVB Silicon Valley Bank, have been dedicated to helping entrepreneurs succeed. SVB Financial Group is a financial holding company that serves emerging growth and mature companies in the technology, life science, private equity and premium wine industries. Offering diversified financial services through SVB 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. Through its affiliated companies, SVB also offers funds management, broker-dealer transactions, asset management and a full range of services for private equity companies, as well as the added value of its knowledge and networks worldwide. Headquartered in Santa Clara, Calif., SVB Financial Group operates through 27 offices in the U.S. and four internationally. More information on the company can be found at www.svb.com.
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 provided by Silicon Valley Bank, a member of FDIC.
Broker-dealer services are offered through SVB Securities, a non-bank affiliate of Silicon Valley Bank and member of SVB Financial Group. Member FINRA, SIPC. Asset management services are offered through SVB Asset Management, a registered investment advisor, non-bank affiliate of Silicon Valley Bank and member of SVB Financial Group. Products and services offered through SVB Securities and SVB Asset Management are not FDIC insured, are not deposits or other obligations of Silicon Valley Bank, and may lose value.
SVB Silicon Valley Bank refers to Silicon Valley Bank, 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. SVB Private Client Services is a division of Silicon Valley Bank. SVB Financial Group is also a member of the Federal Reserve.