We've transferred our former UK Branch to a new subsidiary, Silicon Valley Bank UK Limited

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We've transferred our former UK Branch to a new subsidiary, Silicon Valley Bank UK Limited


On 31 July 2022, Silicon Valley Bank transferred its UK business from its former UK Branch to form a new, wholly owned subsidiary, Silicon Valley Bank UK Limited.

The transfer was approved at a High Court hearing on 25 July 2022, as part of a legal process under Part VII of the UK Financial Services and Markets Act 2000 and Silicon Valley Bank UK Limited became operational as a bank with effect from 1 August 2022.

Silicon Valley Bank UK Limited is registered with Companies House and is authorised by the Prudential Regulation Authority (PRA) and regulated by the PRA and the Financial Conduct Authority (FCA). You’ll find our registration and authorisation details at the bottom of this page.

We do not expect any material change for our clients

Day to day services for our clients continue as normal and they can expect to benefit from the same products and level of service that we provided to them before the transfer.

For more information about the changes

We wrote to our clients about the changes in May and again on 1 August 2022 to confirm the completion of the transfer. You’ll find copies of these communications, with full details on what the changes mean, by clicking on the ‘Client Communications’ and ‘Your Questions Answered’ links below. You can also find details of the court-based process in the 'Key documents' section below.

Businesses that have a relationship with us, such as vendors and other counterparties, have also received communications from us about the changes.

Key dates

23 May 2022

• The High Court provided approval to begin the Part VII process in respect of the transfer to the subsidiary.

• We wrote to our clients with full details of the changes.

Early June 2022

• Other businesses that have a relationship with us, including vendors and counterparties, received communications from us, unless we had been in contact about the changes prior to this date.

25 July 2022

• A Final Court Hearing, called a Sanction Hearing, took place and we were given approval to proceed with the transfer. 

31 July 2022 at 23:59 hrs UK time

• Silicon Valley Bank UK Limited, became operational as a bank.


Get in touch

If you have any questions about the transfer, you can speak to your Relationship Manager, if you're one of our clients, or call our client service team on 0800 023 1441 (+44 207 367 7881 from outside the UK).

Client communications

 
 

Client communications

Notification of plans to become a subsidiary, sent on 23 May 2022 Learn more
 

Your questions answered

A set of questions and answers, which were included in the mail pack sent to clients on 23 May 2022. Learn more

Key documents

 
 

Scheme Summary

A summary of the terms of the Scheme. Learn more
 

Formal Notice

Formal notice of the Court Hearing to approve the transfer. Learn more
 

Full Scheme Document

A copy of the full terms of the Scheme. Learn more