DENVER, Colorado, October 18, 2006 — SVB Silicon Valley Bank, the leading commercial bank for entrepreneurial companies in the technology, life science, private equity and premium wine industries, will expand its decade-long presence in Colorado this year, opening its Central Division headquarters in the greater Denver area. In addition to continuing to provide financial services for local technology and private equity firms, SVB Silicon Valley Bank will run one of its three U.S. regions from its expanded office in Interlocken. The Central Division hub office here will provide business development and back-office infrastructure support to the Division's offices covering 28 states in the Pacific Northwest, Midwest and Southwest United States and Western Canada.
Since opening its first office in Colorado in 1996, SVB Silicon Valley Bank has worked with hundreds entrepreneurial companies from its office in Boulder. SVB currently works with more than half of all venture-backed technology and life science companies in Colorado. By combining the existing Boulder office with the regional headquarters in the Denver area, SVB will quadruple the size of its employee presence in Colorado. Previously, the Boulder office housed a dozen employees. Today SVB has relocated 15 additional employees and expects to grow the total office size to 50 or 60 employees over the next 12 to 18 months.
"As a company we're in the midst of significant growth and will use our new base in the Denver area to grow our team and maintain our momentum," said Scott Bergquist, Central Division manager, SVB Silicon Valley Bank.
SVB Silicon Valley Bank's new Colorado office in Interlocken will formally open in January 2007. Responsibilities of local employees include delivering the company's diverse range of financial services, such as commercial lending, global cash management and corporate investment services. SVB will be hiring approximately 15 additional people to fill positions in client service, sales and relationship management in 2007.
"Given its central location, growing technology market and large talent pool, the Denver area is the perfect location for this new hub office," said Derek Steward, Central Division risk manager, SVB Silicon Valley Bank.
SVB market manager Frank Amoroso will continue to manage local accounts and develop business opportunities in the Boulder/ Denver market. Mike Devery will also continue to manage and develop relationships with venture capital and private equity firms in Colorado and throughout the Central region. The local Central Division leadership team, led by Bergquist and Steward, includes Derek Ridgley, head of client advisory services formerly of SVB Portland, Al Spurgin, head of relationship management formerly of SVB Altanta, and Senior Credit Officer Andy Enroth of Colorado. In total, 15 SVB employees have relocated to the Denver hub office to date.
For more information on SVB, a complete list of job openings, or to submit a resume, please visit www.svb.com/careers.
About SVB Silicon Valley Bank
SVB Silicon Valley Bank provides commercial banking services to emerging growth and mature companies in the technology, life science, private equity and premium wine industries. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, SVB 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 three international operations. SVB Silicon Valley Bank is a member of global financial services firm SVB Financial Group, with SVB Alliant, SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services. More information on the company can be found at www.svb.com.
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.