SANTA CLARA, Calif.,
April 23, 2019 /PRNewswire/
-- SVB Financial Group (NASDAQ:SIVB), the parent company
of Silicon Valley Bank, the bank of the world's most innovative
companies and their investors, announced new leadership
appointments in important areas of SVB's business as part of its
ongoing growth strategy serving the innovation economy.
Effective May 1, John China, SVB's former Head of Technology
Banking, will become President of SVB Capital, the company's
venture capital funds management business. SVB Capital has more
than $4.5 billion under management
across venture capital funds of funds and direct funds. John is a
long-standing member of SVB Capital's Operating Committee. He
will lead the group in its next phase of growth and transformation.
John will continue to expand SVB's Early Stage Practice supporting
entrepreneurs and startups at their earliest stages, and he will
oversee SVB's Family Office practice.
Dave Sabow, SVB's current Head of
Life Science and Healthcare Banking, will take on the additional
responsibility of Technology Banking and the company's newly-opened
Canada office. The combined unit
will benefit from closer collaboration, common leadership and
increasing opportunities to serve companies at the convergence of
technology and healthcare. As part of his expanded role, Dave will
also oversee the business development team focused on venture
capital relationship management and new opportunity
origination.
"It is critical that we continue to grow and innovate alongside
our clients, and we're in a strong position to make that happen
with our deep bench of experienced leadership," said Mike Descheneaux, President of Silicon Valley
Bank. "As the innovation economy expands, we are increasing our
focus and resources on key areas of the business, diversifying our
services, bolstering our capabilities and aligning our teams to
better serve our clients at every stage of their growth."
John joined Silicon Valley Bank in 1996. For more than 23 years
he has been a partner to entrepreneurs and their investors,
providing financial solutions, insights and connections to
accelerate their growth. John is a part of SVB's Executive
Committee and has led Technology Banking teams across the US
specializing in software, internet, hardware, infrastructure,
private equity, venture capital, and premium wine. He has
also been responsible for the company's Corporate Venture Group,
Early Stage Practice, SVB's Global Gateway program, the Credit
Solutioning Group and Corporate Finance.
Dave joined Silicon Valley Bank in 2012 to support late-stage
lending in the Life Science and Healthcare Practice. He has
since become responsible for the national Life Science &
Healthcare Practice, and over the years has led SVB's client funds
business and products. Dave has spent more than 15 years
supporting the innovation economy as both a commercial banker and
an investment banker. In 2018, Dave worked with senior
management to lead SVB's acquisition of investment banking firm
Leerink Partners, now SVB Leerink.
About SVB Financial Group
For more than 35 years, SVB
Financial Group (NASDAQ: SIVB) and its subsidiaries have helped
innovative companies and their investors move bold ideas forward,
fast. SVB Financial Group's businesses, including Silicon Valley
Bank, offer commercial, and private and investment banking, asset
management, private wealth management, brokerage and investment
services and funds management to companies in the technology, life
science and healthcare, private equity and venture capital, and
premium wine industries. Headquartered in Santa Clara, Calif., SVB Financial Group
operates in centers of innovation around the world. Learn more at
svb.com.
SVB Financial Group is the holding company for all business
units and groups ©2019 SVB Financial Group. All rights reserved.
SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, SVB LEERINK, MAKE
NEXT HAPPEN NOW and the chevron device are trademarks of SVB
Financial Group, used under license. Silicon Valley Bank is a
member of the FDIC and the Federal Reserve System. Silicon Valley
Bank is the California bank
subsidiary of SVB Financial Group.
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SOURCE Silicon Valley Bank