HERZLIYA, Israel –– 31st May 2011 — SVB Financial Group (Nasdaq: SIVB), the parent company of Silicon Valley Bank (SVB) and financial partner to technology companies and venture capitalists worldwide, today announced that it has appointed David Cohen as General Manager for SVB Israel Advisors Ltd. (SVB Israel). In his new capacity, David will focus on driving SVB Israel's operations in the region.
David has been heavily involved in the development of the Israeli technology market since 1998 and joins SVB Israel having served as CFO and General Partner at Gemini Israel Funds for more than 13 years. In this role, David was responsible for all reporting, taxation, legal, investor relations and administration affairs and was also a member of the Fund's management and investment committee. Previously, David spent five years with a local accounting firm responsible for a variety of different companies across several verticals.
Commenting on the appointment, Phil Cox, Head of UK, Europe and Israel for Silicon Valley Bank today said: "We are delighted to have such an experienced and adept individual as David lead SVB Israel. His appointment underlines our serious ambitions in the market. David is incredibly well respected and connected in the Israeli technology space and will help us further build out SVB's network of the most innovative and fastest growing companies in Israel."
Speaking on his appointment, David said: "Just as it has done in other technology and innovation centers around the world, SVB is using its tremendous expertise, experience and global platform to build a meaningful operation in Israel within the high-tech community. After 13 great years at Gemini, I am excited about embarking on this new adventure and the opportunity to lead SVB Israel in the country's most important industry sector. My appointment, as well as that of Gadi Moshe as the Head of Origination at SVB Israel, is a clear testament to SVB's long-term commitment to the market."
SVB Financial Group has been working with companies and investors in Israel since the late 1990s, providing its clients and partners in the region the benefit of nearly 30 years of experience dedicated to helping entrepreneurial companies of all sizes succeed. SVB Israel was established in Herzliya in January 2008 to establish a more significant presence in the local market and today offers Israeli-based clients access to financial services, including debt financing, deposit services, treasury management and foreign exchange trading and/or advisory.
In addition to SVB Israel, SVB Financial Group has international 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 nearly three decades, 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 and premium wine industries. Offering diversified financial services through Silicon Valley Bank, SVB Analytics, SVB Capital, SVB Global and SVB Private Bank, 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 26 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.
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.