Tuesday, September 1, 2009

SVB Expands in China

Santa Clara-based Silicon Valley Bank said today that it has opened up a new office in China, as part of an expansion in the country. According to SVB, the new representative office is in Shanghai's Yangpu District. SVB CEO Ken Wilcox said that the move is part of several "ground-breaking" initiatives in China. The new office is not a banking branch, and will not offer banking services; instead, the bank said it will provide information to the Chinese entrepreneurial and technology community.