SVB Financial Group Opens Subsidiary in Shanghai
December 08 2005 - 7:00AM
PR Newswire (US)
Presence in China Helps Chinese and U.S.-Based Clients Conduct
Business Globally; Expands Corporate Global Strategy and Business
Opportunities SHANGHAI, China and SANTA CLARA, Calif., Dec. 8
/PRNewswire-FirstCall/ -- SVB Financial Group (NASDAQ:SIVBE), the
parent company of Silicon Valley Bank, officially opened its third
international subsidiary today in Shanghai. SVB Business Partners
(Shanghai) Co., Ltd. primarily targets high-growth technology
companies and venture capital investors with business and
consulting services designed for firms conducting cross-border
business. SVB Business Partners (Shanghai) is a part of the SVB
Global division, which comprises offices in Bangalore, London and
Shanghai and provides clients with access to its network of
relationships with venture capital investors worldwide. Since the
early 1990s Silicon Valley Bank has been involved in international
markets, building relationships with technology companies,
entrepreneurs, venture capitalists and service providers around the
globe to help its clients work and sell in overseas markets.
Physical locations are the next phase of a global strategy that is
further enabling the company to achieve its mission to help
entrepreneurs succeed, worldwide. In 2004, SVB opened SVB Europe
Advisors in London and SVB India Advisors in Bangalore. In China,
SVB Business Partners (Shanghai) will help develop the
entrepreneurial environment locally and encourage Chinese
entrepreneurs through connections to investors and business
partners as well as through training and networking sessions. The
Shanghai team will actively participate in the local technology
industry, bringing the full scope of Silicon Valley Bank's
knowledge and networks to the Chinese technology market. In support
of Silicon Valley Bank's U.S.-based clients, SVB Business Partners
(Shanghai) will serve as a hub for companies expanding business
activities or adding a physical presence in China. "SVB Global is a
critical component of the success of high-growth technology
companies, so it is only fitting that we would move permanently
into China -- a growing technology and venture capital hub," said
Ken Wilcox, president and CEO of SVB Financial Group and Silicon
Valley Bank. "As a financial services company in the technology
industry, if we were not global, we would be irrelevant. Having a
presence in China will only improve our ability to meet the needs
of our enterprising clients and venture capital partners in another
technology-rich market." The Hub for Cross-Border Connections
Bridging China and the U.S. SVB Business Partners (Shanghai)
provides consulting and business services, acting as a gateway for
U.S.-based and China-based technology companies and venture capital
firms pursuing cross-border business. In China, SVB Business
Partners will serve as a training and networking hub for local
entrepreneurs and investors. Consulting services * Consulting and
business services such as training, networking, and guidance
regarding the selection of service providers (lawyers, accountants,
real estate brokers, HR firms, etc.) * Organizing various training
and networking events to help establish connections with Silicon
Valley Bank's clients and partners worldwide * Administrative/
business services for clients, including venture fund clients,
while visiting China * Liaison services to Silicon Valley Bank's
global financial services (including global treasury, foreign
exchange, global finance and global trade) in the U.S. * This
subsidiary will not provide lending, deposit or investment services
All SVB Global activity is subject to local rules and regulations.
About SVB Global SVB Global is the part of SVB Financial Group that
is responsible for in- market business services in international
locations. Currently, SVB Global oversees operations in Bangalore,
London, and Shanghai, as well as a vast network of relationships
with venture capital firms and funds throughout Europe, Asia,
Israel and around the globe. All SVB Global activity is subject to
local rules and regulations. About SVB Financial Group For more
than 20 years, SVB Financial Group, formerly Silicon Valley
Bancshares, has been dedicated to helping entrepreneurs succeed.
SVB Financial Group is a financial holding company that serves
emerging growth and mature companies in the technology, life
science, private equity and premium wine industries. Headquartered
in Santa Clara, Calif., USA, SVB Financial Group provides clients
with commercial, investment, international and private banking
services. The company also offers funds management, broker-dealer
transactions, asset management and a full range of services for
private equity companies, as well as the added value of its
knowledge and networks worldwide. More information on the company
can be found at http://www.svb.com/. DATASOURCE: SVB Financial
Group CONTACT: Carrie Merritt, +1-503-574-3705, or , or Meghan
O'Leary, +1-408-654-6364, or , both of Silicon Valley Bank Web
site: http://www.svb.com/
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