Silicon Valley Bank (SVB), the bank of the world’s most innovative businesses, enterprises and their investors, has today announced the appointment of Richard Faulkner as Managing Director, the first hire to be located outside of the bank’s London office.
Silicon Valley Bank has a significant client base outside of London and has resources focused on the key UK technology hubs, with Faulkner primed to lead the bank’s Northern expansion from Manchester.
Faulkner is an experienced technology banker with a 20-year track record, almost half of which has been spent providing capital to Northern tech companies at Barclays. His appointment demonstrates SVB’s continued commitment to supporting innovation across the North of England and Scotland.
Simon Bumfrey, Silicon Valley Bank’s Head of UK & Ireland Technology Banking, said: "This is an exciting moment for Silicon Valley Bank, and for clients and investors across the North of England and Scotland. Richard’s appointment underscores our intent to build a regional platform across the UK and support the continued development of the technology ecosystem from startup phase through to publically listed businesses.”
Richard Faulkner, Silicon Valley Bank’s Managing Director - Technology Banking, said: “I am very much looking forward to taking on this new role and establishing Silicon Valley Bank's first UK presence outside of its London base. This is a testament to the strength and quality of the Northern tech ecosystem and I look forward to offering Northern innovation businesses an alternative tech banking proposition.”
Mal Cowley, CEO at Performance Horizon, added: “This is a great step from Silicon Valley Bank - disruption and innovation is happening across the whole of the UK and there is significant demand for capital to help support growth. Having a dedicated local resource means that more attention will be on the north of the UK, a move that will be welcomed by the ecosystem here in Newcastle and beyond.”
Commenting on the appointment, Phil Cox, Head of EMEA and President of the UK Branch for Silicon Valley Bank said: “We are delighted to have strengthened the UK team through this key strategic hire. We appreciate the valuable role that Richard will play in supporting our clients as they grow their innovation businesses.”
Silicon Valley Bank is committed to supporting the UK’s vibrant innovation sector and the entrepreneurs leading high-growth, disruptive technology businesses. SVB lends to businesses such as Trustpilot, Performance Horizon, The Hut Group, Secret Escapes and Made.com as they pave the way towards further growth.