We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
SVB Financial (SIVB) to Hire 80 Bankers, Expand in U.K.
Read MoreHide Full Article
SVB Financial Group’s primary banking subsidiary, Silicon Valley Bank is on expansion mode and is in the process of hiring nearly 80 bankers in U.K. Further, the company is converting its London-based branch in to a full subsidiary. The news was reported by Reuters.
Erin Platts, president of the U.K. branch of Silicon Valley Bank said, “We are starting to see pockets of activity already, the influx of U.S. capital into UK tech had slowed since March but the phones are now ringing again and investors see it as a time to potentially start being opportunistic.”
As Britain is facing the worst possible economic recession owing to the coronavirus pandemic, many financial firms are laying off employees including NatWest Group (NWG - Free Report) , HSBC Holdings (HSBC - Free Report) and Virgin Money. However, Silicon Valley Bank is taking the opposite route.
The company has already hired 30 employees and intends to increase its headcount to 330 by 2020-end from 250 at the beginning of the year. It will also hire a chairman and three directors to manage the operation.
Silicon Valley Bank plans to take advantage of the backlog of investment that built up since the pandemic-induced lockdowns across Europe in March. Platts further noted that “Historic levels of fundraising by private equity means there is a lot of capital on the sidelines, much of it time-bound, and they need to invest.”
SVB Financial largely generates revenues from the United States. Less than 10% of the company’s revenues come from foreign clients. With the above-mentioned development, its top line is likely to be further diversified geographically.
Shares of this Zacks Rank #3 (Hold) have rallied 25% over the past year against the industry’s decline of 7.5%.
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
Image: Bigstock
SVB Financial (SIVB) to Hire 80 Bankers, Expand in U.K.
SVB Financial Group’s primary banking subsidiary, Silicon Valley Bank is on expansion mode and is in the process of hiring nearly 80 bankers in U.K. Further, the company is converting its London-based branch in to a full subsidiary. The news was reported by Reuters.
![](https://staticx-tuner.zacks.com/images/zadmin_tuner_image/sivb_20200820.jpg)
Erin Platts, president of the U.K. branch of Silicon Valley Bank said, “We are starting to see pockets of activity already, the influx of U.S. capital into UK tech had slowed since March but the phones are now ringing again and investors see it as a time to potentially start being opportunistic.”
As Britain is facing the worst possible economic recession owing to the coronavirus pandemic, many financial firms are laying off employees including NatWest Group (NWG - Free Report) , HSBC Holdings (HSBC - Free Report) and Virgin Money. However, Silicon Valley Bank is taking the opposite route.
The company has already hired 30 employees and intends to increase its headcount to 330 by 2020-end from 250 at the beginning of the year. It will also hire a chairman and three directors to manage the operation.
Silicon Valley Bank plans to take advantage of the backlog of investment that built up since the pandemic-induced lockdowns across Europe in March. Platts further noted that “Historic levels of fundraising by private equity means there is a lot of capital on the sidelines, much of it time-bound, and they need to invest.”
SVB Financial largely generates revenues from the United States. Less than 10% of the company’s revenues come from foreign clients. With the above-mentioned development, its top line is likely to be further diversified geographically.
Shares of this Zacks Rank #3 (Hold) have rallied 25% over the past year against the industry’s decline of 7.5%.
One bank worth a look is RBB Bancorp (RBB - Free Report) , which currently carries a Zacks Rank #2 (Buy). The company’s 2020 earnings estimates have moved 3% upward over the past 30 days. The stock has gained 5.8% over the past three months. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>