Finance

SVB Financial Group CEO To Participate In Virtual Fireside Chat At 2021 Morgan Stanley Technology, Media And Telecom Conference

SVB Financial Group CEO To Participate In Virtual Fireside Chat At 2021 Morgan Stanley Technology, Media And Telecom Conference

Greg Becker, President and CEO of SVB Financial Group (NASDAQ: SIVB), will participate in a virtual “fireside chat” at the 2021 Morgan Stanley Technology, Media and Telecom Conference on March 3, 2021 at 12:15 p.m. PST.   

The fireside chat will be accessible via the Investor Relations section of the SVB website at http://ir.svb.com. An archived replay of the presentation will be available for approximately 90 days following the presentation.

About SVB Financial Group

For 35 years, SVB Financial Group (NASDAQ: SIVB) and its subsidiaries have helped innovative companies and their investors move bold ideas forward, fast. SVB Financial Group’s businesses, including Silicon Valley Bank, offer commercial, investment and private banking, asset management, private wealth management, brokerage and investment services and funds management services to companies in the technology, life science and healthcare, private equity and venture capital, and premium wine industries. Headquartered in Santa Clara, California, SVB Financial Group operates in centers of innovation around the world. Learn more at www.svb.com.  [SIVB-F]

Silicon Valley Bank (SVB) was founded in 1982 by Bill Biggerstaff and Robert Medearis over a poker game. Its first office opened in 1983 on North First Street in San Jose. The Palo Alto office opened in 1985.[3] The bank’s main strategy was collecting deposits from businesses financed through venture capital. It then expanded into banking and financing venture capitalists themselves, and added services aimed at allowing the bank to keep clients as they matured from their startup phase.[4] In 1986, SVB merged with National InterCity Bancorp and opened an office in Santa Clara. In 1988, the bank completed its IPO, raising $6 million. In 1990, the bank opened its first office on the East Coast, near Boston. The following year, the bank went international with the launch of the companies Pacific Rim and Trade Finance.[3]

By the mid-1990s, the bank had provided early venture capital to Cisco Systems and Bay Networks.[5]

In 1992, the bank was hit by the real estate burst (50% of the bank’s assets) and recorded a $2.2 million yearly loss.In 1993, the bank’s founding CEO, Roger V. Smith, was replaced by John C. Dean; Smith became Vice Chairman of the bank. Smith left in 1994 to launch the Smith Venture Group. In 1994, the bank launched its Premium Wine Practice activities.In 1995, the bank moved its headquarters from San Jose to Santa ClaraIn 1997, opened a branch in Atlanta.In 1999, the company was reincorporated in Delaware From March 1999 to March 2000,  stock value soared from $20 to $70.

In 2000,  opened a branch in Florida.In 2001,Securities acquired the Palo Alto investment banking firm Alliant Partners for $100 million.Following the crash of the dot-com bubble, the bank’s stock dropped 50%. In 2002, the bank began expanding its private banking business, which up to that point had been done primarily as a favor to wealthy venture capitalists and entrepreneurs.

Financial Group is the holding company for all business units and groups © 2021 Financial Group. All rights reserved.  FINANCIAL GROUP, SILICON VALLEY BANK,  LEERINK, MAKE NEXT HAPPEN NOW and the chevron device are trademarks ofFinancial 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.

This article was shared to Prittle Prattle News as a Press Release.

By Prnewswire

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