Silicon Valley Bank Moves to New Office in Downtown San Francisco

Rhea-AI Summary

Silicon Valley Bank (SVB), a division of First Citizens Bank, opens a new office in downtown San Francisco to serve the innovation economy, featuring modern workspaces, event space, and outdoor terrace. SVB's investment supports growth goals and commitment to innovation clients.

Office features event space to convene innovation economy clients 

SAN FRANCISCO, March 12, 2024 /PRNewswire/ -- Silicon Valley Bank (SVB), a division of First Citizens Bank and financial services provider to some of the world's most innovative companies and investors, today announced the opening of its new office in downtown San Francisco. The upgraded space, located at 222 2nd Street, features modern workspaces, as well as an event space and outdoor terrace for convening innovation economy clients and partners. 

"SVB has enjoyed being a part of the innovation community for 40 years and we're excited to continue serving Bay Area founders and investors from our vibrant new space in the city," said Marshall Hawks, SVB Senior Market Manager in San Francisco. "Our clients value our ability to convene our ecosystem partners, and our new office event space allows for even more of that connection." 

This San Francisco investment by SVB and parent company First Citizens supports the bank's growth goals and continued commitment to serving the innovation economy. SVB has been actively serving the innovation economy since its acquisition by First Citizens in March 2023. With 40 years of experience, SVB is more experienced serving innovation clients than any other financial services provider. Its entire business was purpose-built for high-growth companies and investors, and delivered at the speed they require. SVB remains dedicated to the success of the investors and innovators inventing the future, and now has the full backing of 125-year-old First Citizens Bank to continue to pursue that mission.  

SVB will occupy multiple floors of the building, relocating from its 505 Howard Street office just one block away. SVB maintains a flexible hybrid work policy so the space has been equipped for hybrid work, with numerous collaboration areas as well as private areas for video conferencing. 

The new office also includes more than 6,000 square feet of entertainment space for events. SVB is well known for hosting events that bring the innovation economy together. In the last three quarters of 2023, SVB held or sponsored more than 400 events nationally. The SVB Experience Center at 532 Market Street will continue to be used for client events as well. 

SVB has had a presence in San Francisco for 25 years, since opening its first office at 185 Berry Street in China Basin in 1999. In addition to the San Francisco office, SVB has Bay Area offices in Menlo Park, Palo Alto and Santa Clara.  

About Silicon Valley Bank
Silicon Valley Bank (SVB), a division of First Citizens Bank, is the bank of some 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 significance of Silicon Valley Bank's new office in downtown San Francisco?

The new office aims to serve the innovation economy, offering modern workspaces, event space, and outdoor terrace for clients and partners.

Where is the new office located?

The new office is located at 222 2nd Street in downtown San Francisco.

Who is the Senior Market Manager of SVB in San Francisco?

Marshall Hawks is the SVB Senior Market Manager in San Francisco.

How long has SVB been serving the innovation economy?

SVB has been serving the innovation economy for 40 years.

What is SVB's approach to serving high-growth companies and investors?

SVB's entire business is purpose-built for high-growth companies and investors, delivered at the speed they require.