Silicon Valley Bank, a subsidiary of SVB Financial Group, is planning to hire over 200 people for its newly opened Bengaluru Office. The company has started hiring engineers, systems architects, data analysts, product design, development and support for core functional areas of SVB’s business.
As per ET, Daniel Beck, Chief Finance Officer, Silicon Valley Bank, “Across the globe, there are shortages in labour of skilled and quality talent to be able to support banking operations. Large global financial institutions have taken a stronghold here in the local market. The important things for us are the development of our digital platform, looking at operating the bank technology-wise, analytic support, and needs in financial operations.”
Silicon Valley Bank has helped fund more than 30,000 start-ups. The bank focuses on lending to technology companies, providing multiple services to venture capital, revenue-based financing and private equity firms that invest in technology and biotechnology, and also on private banking services for high-net-worth individuals, in its home market in Silicon Valley. In addition to taking deposits and making loans, the bank operates venture capital and private equity divisions that sometimes invest in the firm’s commercial banking clients.
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