Monday, September 8, 2008

Silicon Valley Bank Sharpens Life Sciences Team In Seattle

Silicon Valley Bank, a commercial bank focused on the IT and life sciences industry, said Monday that the firm has formed a dedicated life science practice in the Pacific Northwest. According to the firm, it has appointed Rob Derry, a senior relationship manager at the firm, to lead life sciences business development in the region. According to Bruce Helberg, a marketing manager at SVB, Derry was previously focused on other product areas and this makes him focused exclusively on life sciences. Helberg noted that the needs of the technology industry are different from the IT side of things, which drove the decision to form a dedicated practice. Helberg also added that the firm has seen great growth in the Seattle market, in addition to growth overall in life sciences. SVB has around 20 people in its Seattle offices.