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Stock impact report

Silicon Valley Bank hires UK chair, sees deal boom despite tough macro outlook [Reuters]

SVB Financial Group (SIVB) 
Last svb financial group earnings: 4/23 04:06 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.svb.com
Company Research Source: Reuters
newly-formed British subsidiary, as it expands its business advising on tech deals despite the darkening economic outlook. SVB - which advises global firms such as Wise, Snyk and Atomico - has also hired Vin Murria, Astrid Grey, and Helen Heslop as directors for the unit, said Erin Platts, head of SVB's European and British businesses. The move to incorporate a subsidiary in Britain, instead of operating just as a branch of the Santa Clara-based bank, comes despite a downbeat near-term outlook for the country's economy and a fall in valuations for former tech high-fliers. Since money transfer company Wise (WISEa.L) in July 2021 completed London's largest ever tech listing at a valuation of around $11 billion, its shares have fallen around 30% in a sign of the sector's recent troubles. The value of tech mergers and acquisitions plunged 43% to $47.6 billion in January-August this year compared to the same period in 2021, according to Refinitiv data, while the number of transacti Show less Read more
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