SVB Financial Group was a diversified financial services company focused on supporting technology, life sciences, venture capital and private equity businesses. Its principal subsidiary, Silicon Valley Bank, provided commercial banking services to startups, growth companies, venture capital firms and other participants in the innovation economy.
Through its operating businesses, the company offered commercial lending, deposit accounts, treasury management, foreign exchange, investment banking, wealth management and asset-management services. Its affiliated businesses included SVB Private, which served high-net-worth individuals and families; SVB Securities, an investment banking firm; and SVB Capital, which managed venture capital and private investment funds.
Founded in 1983 and headquartered in Santa Clara, California, SVB Financial Group developed a global platform serving clients in the United States and selected international markets, including the United Kingdom, Israel, China and other parts of Europe and Asia. Gregory W. Becker served as the company’s president and chief executive officer until March 2023.
In March 2023, Silicon Valley Bank was closed by California regulators, and the Federal Deposit Insurance Corporation was appointed receiver. SVB Financial Group subsequently filed for Chapter 11 bankruptcy protection, while substantially all of Silicon Valley Bank’s deposits and loans were later acquired by First Citizens Bank. The company’s securities have traded over the counter under the symbol SIVPQ.
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