Silicon Valley Bank expands UK operation

Silicon Valley Bank (SVB), which opened its UK branch in 2012 is expanding the operation and has moved to new offices at the Alphabeta building on Finsbury Square, in London’s City district. SVB reports that the UK Branch now has over US$1bn in loans outstanding, and more than 1,200 UK-based clients. To fuel the industry’s continued growth, headcount will grow by more than a third in 2016, with the hiring up to 50 new members of staff.

“London’s thriving tech ecosystem continues to be an important location, both to SVB and to the innovation ecosystem at large,” said Phil Cox, head of EMEA and president of SVB’s UK branch. “We’re optimistic about the year ahead, the British technology sector, and SVB’s contributions to this market.”