SVB's UK Business Becomes Subsidiary Bank, Reflecting Strong Growth
SVB Financial Group (SIVB)
Last svb financial group earnings: 4/23 04:06 pm
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Source: PR Newswire
Company Names Erin Platts CEO of Silicon Valley Bank UK and Appoints New Board of DirectorsLONDON, Sept. 22, 2022 /PRNewswire/ -- SVB Financial Group (SVB) (Nasdaq: SIVB), the financial partner of the innovation economy and parent of Silicon Valley Bank, today announced that its UK branch has become a wholly owned subsidiary of Silicon Valley Bank, due to significant growth of the business. Silicon Valley Bank UK Limited is led by CEO Erin Platts, formerly SVB's Head of EMEA and President of the UK Branch. As a full subsidiary, Silicon Valley Bank UK has appointed a UK Board of Directors to provide oversight for the business.Greg Becker, CEO of SVB Financial Group said: "At SVB, we have witnessed significant growth of the innovation economy in the UK over the past decade. Accordingly, SVB has also experienced outstanding growth in the UK leading to the transition to a subsidiary business based on our size. Under Erin's leadership and vision, we look forward to seeing Silicon Valley Ba
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