Silicon Valley Bank set for major expansion, more hiring in Tempe

Posted at 8:07 AM, Nov 18, 2019
and last updated 2019-11-18 10:07:21-05

Silicon Valley Bank is expanding its Tempe presence, moving into the remainder of the Hayden Ferry Lakeside I building during the first quarter of 2020.

The California-based financial services company, a subsidiary of SVB Financial Group (Nasdaq: SIVB), also pumps venture capital into startups besides offering traditional business banking and wealth management services to clients, intends to hire as many as 300 new employees in the next three years.

“We secured the three remaining floors,” said Phil Cox, COO of Silicon Valley Bank. “It will be more of a campus feel, because we will be the only tenant in the building.”

The bank currently takes up 130,000 square feet and eventually will occupy about 190,000 square feet.

Click here for the full story from the Phoenix Business Journal.