Leadership Changes at SVB Financial Announced

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Big changes are coming to one of the world’s largest financial institutions for funding tech startups.

SVB Financial Group, the parent company of Silicon Valley Bank, has announced two key appointments to its executive staff.

John China, the former Head of Technology Banking, becomes President of SVB Capital, the company’s venture capital funds management business.

SVB Capital has more than $4.5 billion under management across venture capital funds of funds and direct funds. A longtime member of SVB Capital’s Operating Committee, China will lead the group in its next phase of growth and transformation, and also help expand the VC’s Early Stage Practice supporting entrepreneurs and startups in their earliest stages.

China has been with SVB since 1996.

Dave Sabow, SVB’s current Head of Life Science and Healthcare Banking, adds Technology Banking to his duties at the SVB’s just-opened Canada office. The expanded unit will benefit from closer collaboration, common leadership and increasing opportunities to serve companies at the convergence of technology and healthcare. Sabow, who has worked at SVB since 2012, will also oversee the business development team focused on venture capital relationship management and new opportunity origination.

“It is critical that we continue to grow and innovate alongside our clients, and we’re in a strong position to make that happen with our deep bench of experienced leadership,” said Mike Descheneaux, President of SVB, in a statement. “As the innovation economy expands, we are increasing our focus and resources on key areas of the business, diversifying our services, bolstering our capabilities and aligning our teams to better serve our clients at every stage of their growth.”

The appointments become effective May 1st.