In recent news, Silicon Valley Bank announced that although current CEO Ken Wilcox is stepping down at the end of December, the company will still be conducting business in its usual manner under the direction of his successor.
Since its founding in 1983, Silicon Valley Bank (SVB) has been a financial institution serving innovation and growth-oriented companies in technology and life sciences. With headquarters in Santa Clara, California, the company provides a range of specialized banking and financial services to both established and early-stage companies in the United States, Europe, and Israel.
At a recent press conference, the current CEO Ken Wilcox revealed that he was stepping down after 33 years at the helm, but SVB clients have no reason to worry as the new CEO David Parker is ready to continue operations “as usual”. Parker is taking up the role of CEO as of January 1, 2021, succeeding Wilcox.
Parker stepped up to the task with confidence, reassuring the company’s many clients that he was “committed to continuing to earn the trust of our customers, supporters and employees”. He elaborated that the same level of commitments SVB had to its clients before his arrival will remain unchanged, with SVB continuing to provide “the banking, investment, wealth and financing solutions that help our partners achieve their goals.”
Providing a summary of his plans for the future of SVB, Parker explained that he would be focusing on the strength of the existing business, their level of knowledge expertise, and the “human touch” that the company is known for. He also stated that he would be collaborating closely with Wilcox for the smooth transition of power.
All in all, Silicon Valley Bank will remain the same reliable financial institution it has always been. It looks forward to continuing to be the heart and backbone of the innovative technology and life sciences ecosystem it has worked hard to develop over the past three decades.
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