California-based Silicon Valley Bank plans to open an information technology and operations center in Tempe this summer. The commercial banking division of SVB plans to have 100 workers at its new Tempe location by the end of 2012. About 50 of those will be local hires and other 50 will be transferred from other offices, according to the bank spokeswoman Carrie Merritt.
The bank also plans to hire an additional 120 people over the next three years, Merritt said.
“The Valley has a great reputation for information technology,” said Mike LaSorte, an account manager for Signature Consultants. “The cost of living here is good compared to other technology hubs. It’s not just the cost of living for employees, but also for office space. Overall, it’s just a good value.”
Chris Cain, who handles branch and client services for Signature Consultants, said the Valley has become an IT hub for banking operations. “There is a lot of talent,” he said. “We never have a problem getting people to move to Phoenix.”
SVB has 26 offices in the U.S. and others around the world, specializes in providing capital and financing to entrepreneurial companies that range from start-ups to multibillion-dollar corporations.
“Right now, our focus is on the information technology and operations side of the business; but to the extent that there is any increased demand in our book of services, we would be open and willing to expand our commercial banking presence, ” said Dax Williamson, SVB’s deal team leader in Phoenix.
Interested in learning more? Contact your local Signature representative for more information.
Johnson, Jennifer A. Silicon Valley Bank opening Tempe center. Retrieved from http://www.bizjournals.com/phoenix/print-edition/2012/01/06/silicon-valley-bank-opening-tempe-center.html