SVB Financial Group (NASDAQ:SIVB) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements for Certain Officers.
On January 10, 2019, SVB Financial Group (the “Company”) announced the retirement of Michael Dreyer, Chief Operations Officer, which will become effective as of April 1, 2019. After such effective date, Mr. Dreyer will become a consultant, under a separate agreement to be agreed upon, to advise the Company on certain operations and technology initiatives.
Phil Cox, the current Head of EMEA and President of the UK Branch, will assume the position of the Company’s Chief Operations Officer upon Mr. Dreyer’s retirement as of April 1, 2019. Mr. Cox is currently located in the United Kingdom, but is planning to relocate to the United States for his new position.
A copy of the Company’s press release relating to these changes is attached hereto as Exhibit 99.1. Exhibit 99.1 is intended to be “furnished” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.
Item 9.01Financial Statements and Exhibits.
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Exhibit No. |
Description |
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Press Release, dated January 10, 2019.
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SVB FINANCIAL GROUP Exhibit
EX-99.1 2 officertransitionpressrele.htm EXHIBIT 99.1 Exhibit Exhibit 99.1Silicon Valley Bank Names Phil Cox Chief Operations Officer and Erin Platts Head of EMEA and President of the UK BranchSANTA CLARA,…
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About SVB Financial Group (NASDAQ:SIVB)
SVB Financial Group (SVB Financial) is a diversified financial services, bank holding and financial holding company. The Company operates through three segments: Global Commercial Bank, SVB Private Bank and SVB Capital. The Global Commercial Bank segment consists of the operations of its Commercial Bank, and of SVB Wine, SVB Analytics and its Debt Fund Investments. SVB Private Bank is the private banking division of the Bank, which provides a range of personal financial solutions for consumers. SVB Capital is the venture capital investment arm of SVB Financial Group, which focuses primarily on funds management. The Company, through its subsidiaries and divisions, offers a range of banking and financial products and services to clients across the United States, as well as in international entrepreneurial markets. The Company offers services in the technology, life science/healthcare, private equity/venture capital and wine industries.
