SVB Appoints New Leadership for SVB Private and Silicon Valley Bank UK
SVB Financial Group has appointed Erin Platts as President of SVB Private and David Sabow as CEO of Silicon Valley Bank UK, pending regulatory approval. Both have extensive experience at SVB, with Platts focusing on private banking and wealth services while Sabow will lead commercial banking across EMEA. Their transitions are expected in Q2 2023, emphasizing growth in key areas and enhanced client services. CEO Greg Becker highlighted their client focus and leadership capabilities as pivotal for the company's future.
- Platts and Sabow bring over 30 years of combined experience at SVB, expected to bolster leadership.
- Leadership changes aim to strengthen SVB's services for the innovation economy.
- Sabow's appointment is subject to UK regulatory approval, which may delay his leadership.
SANTA CLARA, Calif., Dec. 5, 2022 /PRNewswire/ -- SVB Financial Group (SVB) today announced that Erin Platts has been appointed President of SVB Private and David Sabow has been named CEO of Silicon Valley Bank UK and Head of EMEA, pending UK regulatory approval. Both long-term SVB employees, Platts and Sabow will bring their SVB and innovation economy leadership experience to key growth areas for the company. Upon the transition to their new roles expected in Q2 2023, Platts will also join SVB's executive committee.
SVB is the financial partner of the global innovation economy. For nearly 40 years, SVB has helped investors, entrepreneurs, and technology and life science companies increase their probability of success. Today, SVB delivers a comprehensive platform comprising commercial banking, wealth management and private banking, venture investing, and investment banking in countries around the world where innovation can be found.
"Both Erin and Dave have been instrumental in our growth and have the client focus, track record, industry experience, and extraordinary talent to lead SVB forward with our expanded platform serving the innovation economy," said Greg Becker, CEO of SVB. "With their leadership, we will build on the strengths of our global commercial banking, wealth management and private banking businesses to deliver the insights, connections, products and services that meet the unique needs of our clients."
As President of SVB Private, Platts will lead the company's private banking, wealth planning, trust, brokerage, and investment management services. Platts will be responsible for driving SVB Private's strategy focused on meeting the unique personal financial needs of the entrepreneurs, founders and investors behind the innovation economy. Platts has been with SVB for more than 18 years where she has been instrumental in the growth of SVB's UK and EMEA businesses, serving as Head of Commercial Banking, UK & Europe for six years and most recently as Head of EMEA and CEO of Silicon Valley Bank UK, which recently incorporated as a standalone bank and SVB subsidiary under her leadership.
"I am excited to take on this new role at SVB Private and work with our clients in a different capacity," Platts said. "There is an incredible opportunity to deepen our client relationships through a powerful combination of wealth management and banking solutions as well as our unparalleled experience and expertise working with innovation economy leaders."
Sabow, as CEO of Silicon Valley Bank UK and Head of EMEA, will lead and develop the bank's commercial banking business across Israel, Ireland, Germany and the Nordics in addition to the UK. A 20-year veteran in commercial and investment banking, Sabow has extensive experience leading high-caliber teams and working with innovation economy clients. He has spent the last 10 years with Silicon Valley Bank. In his most recent role as the Bank's first Head of Technology & Healthcare Banking, Sabow successfully integrated two groups with distinct client types, needs and priorities, delivering record business growth across both verticals.
"The innovation economy is growing significantly on a global scale, and I am thrilled to lead our UK and EMEA teams as SVB builds our global platform in parallel," said Sabow. "I look forward to continuing the exceptional legacy that Erin and her team have created and strengthening our client relationships in the UK and EMEA."
Sabow's appointment is subject to UK regulatory approval and until such time Platts will continue to have overall responsibility for Silicon Valley Bank UK and EMEA and Sabow will continue in his current role as Head of Technology & Healthcare Banking team.
About SVB
SVB is the financial partner of the innovation economy, helping individuals, investors and the world's most innovative companies achieve their ambitious goals. SVB's businesses - Silicon Valley Bank, SVB Capital, SVB Private and SVB Securities - together offer the services that dynamic and fast-growing clients require as they grow, including commercial banking, venture investing, wealth planning and investment banking. Headquartered in Santa Clara, California, SVB operates in centers of innovation around the world. Learn more at svb.com/global.
About SVB Private
SVB Private offers a full range of wealth planning, trust, investment management, banking and brokerage services designed for the specialized financial needs of entrepreneurs, executives and investors behind the world's most innovative companies. SVB Private is one of SVB's core businesses with Silicon Valley Bank, SVB Capital and SVB Securities. Learn more at svb.com/private-bank.
About Silicon Valley Bank UK
Silicon Valley Bank, the bank of the world's most innovative companies and investors, provides commercial banking services, expertise and insights to the technology, life science and healthcare, private equity and venture capital industries across the UK & EMEA. Silicon Valley Bank UK's commercial banking and lending services help address the unique needs of its dynamic, fast-growing, innovative clients. Learn more at svb.com/uk.
SVB Financial Group (SVB) (Nasdaq: SIVB) is the holding company for all business units and groups. © 2022 SVB Financial Group. All rights reserved. SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, SVB SECURITIES, SVB PRIVATE, SVB CAPITAL and the chevron device are trademarks of SVB Financial Group, used under license. Silicon Valley Bank UK Limited is registered in England and Wales at Alphabeta, 14-18 Finsbury Square, London EC2A 1BR, UK (Company Number 12546585). Silicon Valley Bank UK Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (Firm Reference Number 543146). Silicon Valley Bank UK Limited is a subsidiary of Silicon Valley Bank, a Delaware corporation and subsidiary of SVB Financial Group. Silicon Valley Bank is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group. [SIVB-C]
The term "SVB Private" is the marketing brand name for the private banking, lending, brokerage and wealth management and investment advisory services offered by the following SVB subsidiaries and affiliates: Silicon Valley Bank, SVB Investment Services Inc., and SVB Wealth LLC. Each legal entity in SVB Financial Group is subject to distinct regulatory requirements and certain products and services may not be available in all jurisdictions or to all client types. Banking, lending, and trust products or services are offered by Silicon Valley Bank, a California bank with trust powers. Silicon Valley Bank is a member of the FDIC and of the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group (Nasdaq: SIVB). SVB Wealth LLC ("SVBW") and SVB Investment Services Inc. ("SVBIS") are wholly owned, non-bank subsidiaries of Silicon Valley Bank.
Wealth management and investment advisory services offered by SVBW, and brokerage products and services offered by SVBIS are:
NOT FDIC INSURED • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY • NOT BANK GUARANTEED • NOT A BANK DEPOSIT • MAY LOSE VALUE |
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SOURCE SVB Financial Group
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