SVB Financial Group Opens Subsidiary in Beijing

Subsidiary Provides Liason Services to SVB's Global Financial Services

Oct 12, 2010, 08:00 ET from SVB Financial Group

BEIJING, and SANTA CLARA, Calif., Oct. 12 /PRNewswire-FirstCall/ -- SVB Financial Group (Nasdaq: SIVB), the parent company of Silicon Valley Bank and financial partner to more than half of all venture capital-backed technology companies in the United States, opened an international subsidiary today in Beijing.  SVB Business Partners (Beijing) Co., Ltd. offers 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, its affiliate in the U.S., for venture debt financing and offshore banking services.  

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"SVB Financial Group's mission has always been to help entrepreneurs succeed, wherever they are in the world," said Ken Wilcox, CEO of SVB Financial Group.  "We have experienced a growing entrepreneurial spirit in Shanghai and Beijing, and are committed to bringing our financial expertise, industry knowledge and global network to innovative companies throughout the country.  A presence in Beijing will also benefit our U.S.-based clients and venture capital partners who are eager to expand in the region."

Prior to the opening of the new subsidiary in Beijing, SVB opened SVB Business Partners (Shanghai) in 2005 to establish a consulting beachhead for SVB in China and create a gateway between Shanghai and Silicon Valley.  SVB expanded in China in 2009 with the opening of a representative office in Shanghai's Yangpu District and currently manages a direct investment fund and a fund of funds for the Yangpu District Government through SVB Capital, SVB Financial Group's venture capital group .  SVB is currently working toward the establishment of a banking platform focused on technology and life science companies in China.  

SVB Business Partners (Beijing) provides technology companies and venture funds with:

  • Advisory services for arranging RMB loans with local banks
  • Introductions to Silicon Valley Bank, its affiliate in the U.S., for venture debt financing and offshore banking services  
  • In market client services for offshore banking clients, including venture fund clients
  • Various networking events to help establish connections with Silicon Valley Bank's clients and partners worldwide

This subsidiary will not provide any direct lending, deposit or investment services.

Michael Yahng is the China Country Head for SVB Financial Group and oversees management of SVB Business Partners (Beijing) and SVB Business Partners (Shanghai).  Yahng has more than 30 years of experience in international finance and banking.  Prior to joining SVB he was involved with private equity fundraising and investments in China for TianDi Growth Capital.  Yahng is based in Shanghai and Hong Kong and currently sits on the boards of Bank of Hangzhou, UPG, and First Sino Bank, the only Taiwanese JV Bank in China.

"Beijing is the government and banking capital of China and we are delighted to be part of that ecosystem with the opening of our new office in the city's Haidian District," said Yahng.  "China continues to be a key part of SVB's international growth and we're pleased to be able to work with entrepreneurs and investors in both Beijing and Shanghai."  

Leading the day to day operations of the SVB Business Partners (Beijing) office is Managing Director Daniel Quon.  With nearly 30 years of experience in banking, a significant portion in Asia, Quon is considered one of SVB's experts on China.  He has developed and managed SVB's relationships in China for many years and was instrumental in the opening of SVB Business Partners (Shanghai).

In addition to its subsidiaries in China and offices throughout the United States, SVB Financial Group has operations in India, Israel and the United Kingdom, through which it offers its clients access to the company's network of relationships with technology and life science companies and venture capital investors worldwide.

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, private equity 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.  All international activity is subject to local rules and regulations.  

SOURCE SVB Financial Group



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