SVB Financial Group (SVB) today announced that Erin Platts has been appointed President of SVB Private and David Sabow has been named CEO of Silicon Valley Bank UK and Head of EMEA, pending UK regulatory approval. Both long-term SVB employees, Platts and Sabow will bring their SVB and innovation economy leadership experience to key growth areas for the company. Upon the transition to their new roles expected in Q2 2023, Platts will also join SVB’s executive committee.
SVB is the financial partner of the global innovation economy. For nearly 40 years, SVB has helped investors, entrepreneurs, and technology and life science companies increase their probability of success. Today, SVB delivers a comprehensive platform comprising commercial banking, wealth management and private banking, venture investing, and investment banking in countries around the world where innovation can be found.
“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.”
As President of SVB Private, Platts will lead the company’s private banking, wealth planning, trust, brokerage, and investment management services. Platts will be responsible for driving SVB Private’s strategy focused on meeting the unique personal financial needs of the entrepreneurs, founders and investors behind the innovation economy. Platts has been with SVB for more than 18 years where she has been instrumental in the growth of SVB’s UK and EMEA businesses, serving as Head of Commercial Banking, UK & Europe for six years and most recently as Head of EMEA and CEO of Silicon Valley Bank UK, which recently incorporated as a standalone bank and SVB subsidiary under her leadership.
“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.”
Sabow, as CEO of Silicon Valley Bank UK and Head of EMEA, will lead and develop the bank’s commercial banking business across Israel, Ireland, Germany and the Nordics in addition to the UK. A 20-year veteran in commercial and investment banking, Sabow has extensive experience leading high-caliber teams and working with innovation economy clients. He has spent the last 10 years with Silicon Valley Bank. In his most recent role as the Bank’s first Head of Technology & Healthcare Banking, Sabow successfully integrated two groups with distinct client types, needs and priorities, delivering record business growth across both verticals.
“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. “I look forward to continuing the exceptional legacy that Erin and her team have created and strengthening our client relationships in the UK and EMEA.”
Sabow’s appointment is subject to UK regulatory approval and until such time 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 & Healthcare Banking team.
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