SVB Financial Group - SIVB STOCK NEWS

Tenet, a leading EV financing platform, has secured a $20 million warehouse facility from Silicon Valley Bank to fund electric vehicle (EV) loans. This innovative financing model aims to reduce costs and increase affordability for consumers. By 2025, EV sales are projected to represent 25% of total car sales, rising to 50% by 2030. In line with California's initiative for 100% zero-emission cars by 2035, Tenet's collaboration with SVB emphasizes its commitment to sustainable financing and combatting climate change.

SVB (NASDAQ: SIVB) announced its financial results for the quarter ending September 30, 2022. The company serves as the financial partner for the innovation economy, catering to individuals and dynamic companies. They will hold a conference call at 3:00 PM PT to discuss these results further. Interested parties can access the call via the SVB investor relations website. SVB comprises various segments, including Silicon Valley Bank, SVB Capital, SVB Private, and SVB Securities, which provide banking, venture investing, and wealth planning services.

SVB Financial Group announces the appointment of Laura Cushing as the new Chief Human Resources Officer (CHRO), succeeding Chris Edmonds-Waters. Cushing, who previously led HR at Loews Corporation, will focus on enhancing SVB’s workforce and culture as the company grows, aligning with its mission to support the innovation economy. SVB, with $214 billion in assets and over 7,700 employees, operates globally across various financial services, aiming to increase client success.

Flueid, a leading real estate technology company, has secured $20 million in funding, which includes a $15 million Series B raise and a $5 million relationship extension with Silicon Valley Bank. The funding aims to advance Flueid's multi-vertical solution suite and support over one million transactions. CEO Peter Bowman highlighted the company's growth and evolution over the last 18 months, while Aquiline's CEO expressed confidence in Flueid's market strategy. Recent milestones include a 400% revenue increase and an 800% rise in monthly transaction volume.

SVB (NASDAQ: SIVB) will announce its financial results for Q3 2022 on October 20, 2022, after market close. The comprehensive report will be filed with the SEC and accessible via SVB's Investor Relations website. A conference call is scheduled for the same day at 3:00 p.m. PT, with dial-in options provided. Forward-looking earnings dates include January 19, 2023 for Q4 results and April 20, 2023 for Q1 results, all subject to change.

SVB Financial Group has announced the transition of its UK branch into a wholly owned subsidiary, Silicon Valley Bank UK Limited, following significant growth in the innovation economy. Erin Platts has been appointed CEO, leading a newly formed board aimed at strategic growth and international expansion. This move reflects SVB's commitment to the UK and EMEA markets, where it has gained a strong presence since entering in 2004. With 650 employees across five countries, SVB continues to support innovative businesses and investors, enhancing its financial services for the evolving economy.

SVB, the financial partner of the innovation economy, has announced an audit of its Access to Innovation programs aimed at enhancing opportunities for underrepresented groups, including women and Black and Latinx individuals. This audit, conducted by attorneys from Paul, Weiss, Rifkind, Wharton & Garrison LLP, seeks to assess the impact of these initiatives since their inception in 2019 and establish benchmarks for future progress. Key findings from this assessment will be reported in SVB's 2023 ESG report, expected in Q3 2023.

SVB Financial Group has appointed Thomas King, former CEO of Investment Banking at Barclays, to its board of directors effective September 13, 2022. King brings over 35 years of experience in corporate and investment banking, which includes senior roles at Salomon Brothers and Citigroup. His expertise is expected to enhance SVB's strategic initiatives and long-term value creation for stakeholders. With $214 billion in assets and over 7,700 employees, SVB serves the innovation economy through its diverse portfolio of services.

SVB Financial Group (NASDAQ: SIVB) announced that CFO Dan Beck will participate in a fireside chat at the Barclays Global Financial Services Conference on September 12, 2022, at 7:30 a.m. EDT. A live audio webcast of the event will be available on the company’s investor relations website, with a replay accessible starting at noon EDT on the same day. SVB partners with the innovation economy, providing a range of financial services through its various business units, including Silicon Valley Bank.