SVB Financial Group Holds Board of Directors Meeting in Shanghai

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Nov 11, 2010, 08:00 ET

SHANGHAI and SANTA CLARA, Calif., Nov. 11, 2010 /PRNewswire/ -- SVB Financial Group, the parent company of Silicon Valley Bank and financial partner to technology companies and venture capitalists worldwide, held its board of directors meeting in Shanghai this week, the first time the meeting has been held outside of the United States.

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SVB Financial Group has been building long-term, strategic relationships in China for more than a decade and recently expanded its presence in the country with the opening of SVB Business Partners (Beijing) Co., Ltd. in October 2010. Hosting the board of directors meeting in Shanghai provided an opportunity for SVB to showcase its current activities in China to the board of directors, and underscore the important role the country plays in SVB's future growth.

"Many of our board members have been to China on their own or on behalf of their companies, but few of them have visited SVB's offices in Shanghai and Beijing or met with our growing local team. We are thrilled to welcome the entire board to China and give them a sense of the entrepreneurial environment here and the opportunities for growth," said Ken Wilcox, Chief Executive Officer of SVB Financial Group. "We are confident that China will continue to play an important role in SVB's future and we look forward to obtaining our long term goal of providing a full banking platform for Chinese companies."

SVB currently works with Chinese companies and investors through SVB Business Partners (Beijing) Co. Ltd. and SVB Business Partners (Shanghai) Co. Ltd., which was opened in 2005 as SVB's first subsidiary in China. Both subsidiaries provide local technology companies and venture capital investors with in-market client service support; advisory services for arranging RMB loans with local banks; and introductions to Silicon Valley Bank, their affiliate in the U.S., for venture debt financing and offshore banking services.

In addition, Silicon Valley Bank opened the Shanghai Representative Office in 2009 in the city's Yangpu District to introduce the Chinese entrepreneurial and technology communities to Silicon Valley Bank. In 2010, SVB extended its U.S.-based Entrepreneur Services Platform into China to provide Chinese entrepreneurs with educational programming and networking opportunities with qualified investors. SVB's Entrepreneur Services Platform holds an agreement with the Shanghai Municipal Government to provide a week-long training session for the Municipality's top venture capital policy makers. SVB Capital, SVB Financial Group's venture capital group, also holds an agreement with the Yangpu District to manage a direct investment fund and a fund of funds for the Yangpu District Government.

Beyond its banking-related activities, and in an effort to help bolster China's innovation economy, SVB has made direct equity investments in Zhejiang Uni-power Guaranty ("UPG"), a credit guarantee company targeting the SME market in China, as well as Zero2IPO Group, a leading integrated service provider for the China venture capital and private equity industries. SVB has made more than a dozen investments in China-focused venture capital funds, including funds managed by DT Capital, Hony Capital, and SBCVC, among others.

Together, SVB Financial Group's collaborative efforts in China are intended to help foster the country's technology and life science entrepreneurs.

About SVB Financial Group

For nearly three decades, SVB Financial Group and its subsidiaries, including Silicon Valley Bank, have been dedicated to helping entrepreneurs succeed. SVB Financial Group is a financial holding company that serves companies in the technology, life science, venture capital and premium wine industries. Offering diversified financial services through Silicon Valley Bank, SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services, SVB Financial Group provides clients with commercial, investment, international and private banking services. The company also offers funds management, broker-dealer transactions and asset management, as well as the added value of its knowledge and networks worldwide. Headquartered in Santa Clara, Calif., SVB Financial Group (Nasdaq: SIVB) operates through 26 offices in the U.S. and international operations in China, India, Israel and the United Kingdom. More information on the company can be found at www.svb.com.

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. and SVB Business Partners (Beijing) Co., Ltd. are subsidiaries of SVB Financial Group. SVB Business Partners (Shanghai) Co., Ltd., SVB Business Partners (Beijing) Co., Ltd. and SVB Financial Group are not licensed to conduct banking business in China and do not engage in unlicensed banking activities. SVB Business Partners (Shanghai) Co., Ltd. and SVB Business Partners (Beijing) Co., Ltd. do not provide lending, deposit or investment advisory services. Silicon Valley Bank Shanghai Representative Office conducts liaison activities for Silicon Valley Bank pursuant to the regulations and guidelines of the CBRC. All international activity is subject to local rules and regulations.

SOURCE SVB Financial Group