US-based Silicon Valley Bank has appointed new leadership for its private banking and wealth management business and for Silicon Valley Bank UK.
Silicon Valley Bank Financial Group this week appointed Erin Platts as president of SVB Private and David Sabow as CEO of Silicon Valley Bank UK and head of EMEA, pending UK regulatory approval.
Platts has been with SVB for more than 18 years, serving as head of commercial banking, UK and Europe for six years and most recently as head of EMEA and CEO of Silicon Valley Bank UK, the firm said in a statement.
Upon the transition to her new role, expected in the second quarter of 2023, Platts will also join SVB's executive committee.
In her new role, she will lead the company's private banking, wealth planning, trust, brokerage, and investment management services, the firm continued.
"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," she added.
Meanwhile, Sabow, as CEO of Silicon Valley Bank UK and head of EMEA, will develop the bank's commercial banking business across Israel, Ireland, Germany and the Nordics in addition to the UK, the firm said.
He has spent the last 10 years with Silicon Valley Bank, most recently as the bank's first head of technology and healthcare banking.
"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.
Sabow's appointment is subject to UK regulatory approval and until then, 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 and healthcare banking team, the firm said.
"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," he continued.
Based in California, Silicon Valley Bank is a large commercial US bank, with total assets of $211 billion, delivering commercial banking, wealth management and private banking, venture investing, and investment banking in countries around the world.