Silicon Valley Bank Expands in China
By 2009-9-2 16:22:46
SVB Financial Group Takes Next Step in China Strategy, Lays Foundation for
Future Banking Platform Focused on Technology Industries
SANTA CLARA, Calif. and SHANGHAI, Sept. 1 /PRNewswire-FirstCall/ -- Silicon
Valley Bank, the premier commercial bank for companies in the technology, life
science, venture capital and premium wine industries, opened a representative
office in Shanghai's Yangpu District today.
"Our long-term commitment to Chinese entrepreneurs, technology, life science
and venture capital firms is to offer the same expertise, connections and
banking services we provide to our clients in the U.S.," said Ken Wilcox, CEO
of SVB Financial Group and Silicon Valley Bank. "Together with the Yangpu
District Government and many others, we are working on several ground-breaking
initiatives that will help build the infrastructure for a vibrant innovation
economy in China."
The addition of a representative office in Shanghai is Silicon Valley Bank's
next step toward building a banking platform focused on technology and life
science companies in China.
SVB Financial Group, the parent company of Silicon Valley Bank, has been
expanding in global markets for many years and has a variety of business
development, consulting and financial operations in China, India, Israel and
the UK, all of which are important markets for the technology, life science
and venture capital industries it serves. Silicon Valley Bank is widely
recognized for its ability to develop innovative approaches to meet the unique
financial needs of its clients.
"Silicon Valley Bank has more than 26 years of experience helping
entrepreneurs and emerging, dynamic technology start-ups grow into successful
companies, and we want to share that in China," said Mike Yahng, the chief
representative of the Silicon Valley Bank Shanghai Representative Office. "Our
expertise is banking innovative companies, and this representative office gets
us one step closer to our goal of offering financing solutions for China's
innovative technology and life science companies."
Silicon Valley Bank's new Shanghai representative office will give Chinese
technology companies an outlet to meet and learn about Silicon Valley Bank,
however it is not a bank branch and will not provide banking services. Through
the representative office, Silicon Valley Bank will facilitate information
flow to and from Silicon Valley Bank in the U.S. and help introduce Silicon
Valley Bank to the Chinese entrepreneurial and technology communities.
SVB Financial Group began engaging with venture capitalists and technology
companies across Asia in the 1990s. In 2005, the company opened SVB Business
Partners Shanghai to create a gateway between Shanghai and Silicon Valley for
its clients and partners. Having successfully established a consulting
beachhead, SVB has been focusing on building strategic alliances with local
partners and the Chinese government, especially in the technology and life
sciences sectors.
About Silicon Valley Bank
Silicon Valley Bank is the premier commercial bank for companies in the
technology, life science, venture capital and premium wine industries. SVB
provides a comprehensive suite of financing solutions, treasury management,
corporate investment and international banking services to its clients
worldwide. Through its focus on specialized markets and extensive knowledge of
the people and business issues driving them, Silicon Valley Bank provides a
level of service and partnership that measurably impacts its clients' success.
Founded in 1983 and headquartered in Santa Clara, Calif., the company serves
clients around the world through 27 U.S. offices and international operations
in China, India, Israel and the United Kingdom. Silicon Valley Bank is a
member of global financial services firm SVB Financial Group (Nasdaq: SIVB),
with SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services.
More information on the company can be found at www.svb.com.
Silicon Valley Bank Shanghai Representative Office will conduct liaison
activities for Silicon Valley Bank pursuant to the regulations and guidelines
of the CBRC.
Silicon Valley Bank is the California bank subsidiary and the commercial
banking operation of SVB Financial Group. Banking services are provided by
Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB
Financial Group is also a member of the Federal Reserve System. SVB Business
Partners (Shanghai) Co. Ltd. is a subsidiary of SVB Financial Group. Neither
SVB Business Partners (Shanghai) Co. Ltd nor SVB Financial Group is licensed
to conduct banking business in China and neither entity engages in unlicensed
banking activities. SVB Business Partners (Shanghai) Co. Ltd. does not provide
lending, deposit or investment advisory services. All international activity
is subject to local rules and regulations.
Future Banking Platform Focused on Technology Industries
SANTA CLARA, Calif. and SHANGHAI, Sept. 1 /PRNewswire-FirstCall/ -- Silicon
Valley Bank, the premier commercial bank for companies in the technology, life
science, venture capital and premium wine industries, opened a representative
office in Shanghai's Yangpu District today.
"Our long-term commitment to Chinese entrepreneurs, technology, life science
and venture capital firms is to offer the same expertise, connections and
banking services we provide to our clients in the U.S.," said Ken Wilcox, CEO
of SVB Financial Group and Silicon Valley Bank. "Together with the Yangpu
District Government and many others, we are working on several ground-breaking
initiatives that will help build the infrastructure for a vibrant innovation
economy in China."
The addition of a representative office in Shanghai is Silicon Valley Bank's
next step toward building a banking platform focused on technology and life
science companies in China.
SVB Financial Group, the parent company of Silicon Valley Bank, has been
expanding in global markets for many years and has a variety of business
development, consulting and financial operations in China, India, Israel and
the UK, all of which are important markets for the technology, life science
and venture capital industries it serves. Silicon Valley Bank is widely
recognized for its ability to develop innovative approaches to meet the unique
financial needs of its clients.
"Silicon Valley Bank has more than 26 years of experience helping
entrepreneurs and emerging, dynamic technology start-ups grow into successful
companies, and we want to share that in China," said Mike Yahng, the chief
representative of the Silicon Valley Bank Shanghai Representative Office. "Our
expertise is banking innovative companies, and this representative office gets
us one step closer to our goal of offering financing solutions for China's
innovative technology and life science companies."
Silicon Valley Bank's new Shanghai representative office will give Chinese
technology companies an outlet to meet and learn about Silicon Valley Bank,
however it is not a bank branch and will not provide banking services. Through
the representative office, Silicon Valley Bank will facilitate information
flow to and from Silicon Valley Bank in the U.S. and help introduce Silicon
Valley Bank to the Chinese entrepreneurial and technology communities.
SVB Financial Group began engaging with venture capitalists and technology
companies across Asia in the 1990s. In 2005, the company opened SVB Business
Partners Shanghai to create a gateway between Shanghai and Silicon Valley for
its clients and partners. Having successfully established a consulting
beachhead, SVB has been focusing on building strategic alliances with local
partners and the Chinese government, especially in the technology and life
sciences sectors.
About Silicon Valley Bank
Silicon Valley Bank is the premier commercial bank for companies in the
technology, life science, venture capital and premium wine industries. SVB
provides a comprehensive suite of financing solutions, treasury management,
corporate investment and international banking services to its clients
worldwide. Through its focus on specialized markets and extensive knowledge of
the people and business issues driving them, Silicon Valley Bank provides a
level of service and partnership that measurably impacts its clients' success.
Founded in 1983 and headquartered in Santa Clara, Calif., the company serves
clients around the world through 27 U.S. offices and international operations
in China, India, Israel and the United Kingdom. Silicon Valley Bank is a
member of global financial services firm SVB Financial Group (Nasdaq: SIVB),
with SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services.
More information on the company can be found at www.svb.com.
Silicon Valley Bank Shanghai Representative Office will conduct liaison
activities for Silicon Valley Bank pursuant to the regulations and guidelines
of the CBRC.
Silicon Valley Bank is the California bank subsidiary and the commercial
banking operation of SVB Financial Group. Banking services are provided by
Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB
Financial Group is also a member of the Federal Reserve System. SVB Business
Partners (Shanghai) Co. Ltd. is a subsidiary of SVB Financial Group. Neither
SVB Business Partners (Shanghai) Co. Ltd nor SVB Financial Group is licensed
to conduct banking business in China and neither entity engages in unlicensed
banking activities. SVB Business Partners (Shanghai) Co. Ltd. does not provide
lending, deposit or investment advisory services. All international activity
is subject to local rules and regulations.
From www.reuters.com