Silicon Valley Bank Appoints New Leadership to Support Life Science and Healthcare Sector

Rhea-AI Summary

SVB Releases Mid-Year Healthcare Investments and Exits Report, Names New Heads of Relationship Management and Credit Solutions for Life Science and Healthcare Practice

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• Jackie Spencer and Megan Scheffel, both long-term SVB veterans, have been named as the new Head of Relationship Management and Head of Credit Solutions for the Life Science and Healthcare practice, bringing invaluable leadership, sector knowledge, and extensive experience to their new roles.
• SVB provides specialized banking services, debt-financing solutions, industry partnerships, and leading market insights to companies and investors across the Life Science and Healthcare sectors, strengthening and investing in support for companies across these specialties.
• The Healthcare Investments and Exits 2023 Mid-Year report, co-authored by Jackie Spencer, provides relevant insights on the current and future state of the Healthcare market, analyzing trends for venture capital investing, fundraising, M&A activity, and exits for biopharma, medical device, diagnostics and tools, and healthtech sectors in the US.

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Company releases Mid-Year Healthcare Investments and Exits Report

SAN FRANCISCO, July 27, 2023 /PRNewswire/ -- Silicon Valley Bank, a division of First Citizens Bank, today announced that 16-year SVB veteran Jackie Spencer has been named the new Head of Relationship Management for Life Science and Healthcare Banking.  The company also announced that 26-year SVB veteran Megan Scheffel was named Head of Credit Solutions for the Life Science and Healthcare practice. Spencer and Scheffel report to 30-year SVB leader Joan Parsons, Head of Technology and Healthcare Banking at Silicon Valley Bank (SVB).

"As we continue to strengthen and invest in our support for companies across Life Science and Healthcare specialties, Jackie and Megan are well-positioned to lead their teams and deliver the financial solutions, partnership and advice our clients rely on to succeed and scale. They both bring invaluable leadership, sector knowledge, and extensive experience to their new roles," said Parsons.

Through its nationwide Life Science and Healthcare practice, SVB provides specialized banking services, debt-financing solutions, industry partnerships, and leading market insights to companies and investors across the sectors. As head of Relationship Management, Spencer leads a nationwide team dedicated to serving the unique needs of early to late-stage companies specializing in biopharma, healthtech, medical services and diagnostics tools. 

Prior to her current role, Spencer worked on SVB's strategic capital team where she managed large syndicated, mezzanine and convertible debt opportunities in the US, Canadian and European Life Science and Healthcare markets. She also previously served as Managing Director where she led the West Coast biotech, diagnostics and research tools team. Since joining SVB in 2007, Spencer has worked in both the technology and healthcare practices from emerging market to late-stage corporate finance. She is based in San Francisco, CA.

As Head of Credit Solutions, Scheffel leads a nationwide team responsible for providing holistic and specialized debt financings to support SVB's Life Science and Healthcare clients at all stages. Prior to her current role, she was Global Senior Credit Officer for Life Science and Healthcare. She has also served as Region Manager for the Southeast and Mid-Atlantic Division where she led teams dedicated to serving emerging, growth and established technology and life science companies.  Scheffel is based in Washington D.C. 

Continuing to provide relevant insights on the current and future state of the Healthcare market, SVB today released its Healthcare Investments and Exits 2023 Mid-Year report, which is co-authored by Spencer. Based on data from the first half of 2023, the annual report analyzes trends for venture capital investing, fundraising, M&A activity and exits for biopharma, medical device, diagnostics and tools, and healthtech sectors in the US.

To read the full Mid-Year 2023 Healthcare Investments and Exits report, click here Healthcare Investments and Exits Report Q1 2023 | Silicon Valley Bank (svb.com).

About Silicon Valley Bank
Silicon Valley Bank (SVB), a division of First Citizens Bank, is the bank of the world's most innovative companies and investors. SVB provides commercial and private banking to individuals and companies in the technology, life science and healthcare, private equity, venture capital and premium wine industries. SVB operates in centers of innovation throughout the United States, serving the unique needs of its dynamic clients with deep sector expertise, insights and connections. SVB's parent company, First Citizens BancShares, Inc. (NASDAQ:  FCNCA), is a top 20 U.S. financial institution with more than $200 billion in assets. First Citizens Bank, Member FDIC. Learn more at svb.com

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SOURCE Silicon Valley Bank

FAQ

What is the focus of SVB's nationwide Life Science and Healthcare practice?

SVB's practice provides specialized banking services, debt-financing solutions, industry partnerships, and leading market insights to companies and investors across the Life Science and Healthcare sectors.

Who has been named as the new Head of Relationship Management for Life Science and Healthcare Banking?

Jackie Spencer, a 16-year SVB veteran, has been named as the new Head of Relationship Management for Life Science and Healthcare Banking.

What does the Healthcare Investments and Exits 2023 Mid-Year report analyze?

The report analyzes trends for venture capital investing, fundraising, M&A activity, and exits for biopharma, medical device, diagnostics and tools, and healthtech sectors in the US.