SVB Reinforces Commitment to Inclusion in the Innovation Economy; Hires Tosh Ernest as Head of Access to Innovation
SVB has appointed Tosh Ernest as Head of Access to Innovation to enhance diversity, equity, and inclusion within the innovation sector. This initiative focuses on improving opportunities for women, Black, and Latinx individuals in leadership roles. With over 10 years at JPMorgan Chase, Ernest will strengthen SVB's efforts in providing access to capital and professional networks. CEO Greg Becker emphasized the importance of addressing inequities in the sector, citing the need for continued work despite progress. SVB aims to leverage its influence to create pathways for historically underserved communities.
- Tosh Ernest's extensive experience in diversity initiatives can enhance SVB's Access to Innovation program.
- The initiative targets significant diversity gaps in the innovation sector, potentially expanding SVB's client base and influence.
- Concerns about continuity and experience gaps in management due to Ernest's new role.
- Potential challenges in meeting ambitious diversity goals may arise, risking reputation if not achieved.
Accomplished corporate diversity expert will lead SVB's efforts to increase diversity, equity and inclusion in the innovation sector
SANTA CLARA, Calif., June 14, 2022 /PRNewswire/ -- SVB, the financial partner of the innovation economy and parent of Silicon Valley Bank, today announced Tosh Ernest has been named Head of Access to Innovation, SVB's signature initiative to advance women, Black and Latinx individuals to positions of influence in the innovation economy.
SVB is committed to building a more diverse, equitable and accessible innovation economy. Its Access to Innovation program works to address the innovation sector's biggest diversity opportunities by unlocking greater access to capital, professional relationships and career opportunities for women, Black and Latinx individuals.
In the newly formed role, Ernest will help to expand SVB's Access to Innovation program and broaden opportunities across SVB's core businesses: Silicon Valley Bank, SVB Capital, SVB Private and SVB Securities.
"I'm encouraged by the greater attention given to issues of inequity in the innovation sector in recent years – but there is much more work to be done," said Greg Becker, president and CEO of SVB. "We're thrilled to have Tosh's DE&I expertise and executive leadership usher our Access to Innovation program into its next era, increasing the impact we're able to have."
Ernest joins SVB after more than 10 years with JPMorgan Chase & Co., where she founded the wealth division of Advancing Black Pathways, a global initiative focused on bridging the racial wealth gap. In this role, Ernest's team drove JPMorgan's multibillion dollar commitment to racial equity, serving as a strategic advisor to senior management and community leaders on issues of economic opportunity for underserved communities.
"SVB's commitment to improve diversity, equity and inclusion extends beyond its own walls to its entire sphere of influence. SVB's Access to Innovation team has done tremendous work to creatively leverage the company's vast network to create and amplify educational, employment and funding pathways," said Tosh Ernest, Head of Access to Innovation at SVB. "I'm excited to bring my experience and passion to SVB and the innovation economy to continue to grow and evolve this important work."
Prior to leading Advancing Black Pathways, Ernest led large-scale change management and transformation initiatives for JPMorgan in asset and wealth management, and investment banking. Before JPMorgan, she held roles at consulting firms Navigant, Capco and Accenture, specializing in post- merger and acquisition systems integration. Ernest graduated from the University of Reading in England with a bachelor's degree in accounting and management.
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.
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 is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group.
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SOURCE Silicon Valley Bank
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