SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 20, 2011
SVB Financial Group
(Exact name of registrant as specified in its charter)
(State or other jurisdiction
3003 Tasman Drive, Santa Clara, CA 95054-1191
(Address of principal executive offices) (Zip Code)
Registrants telephone number, including area code: (408) 654-7400
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
|¨||Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)|
|¨||Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.142-12)|
|¨||Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))|
|¨||Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))|
|Item 7.01||Regulation FD Disclosure.|
On October 20, 2011, Silicon Valley Bank (the Bank ), the banking subsidiary of SVB Financial Group, announced that it had received approval from the China Banking Regulatory Commission to proceed with the establishment of its joint venture bank in China. The Bank had previously announced in December 2010 that it had signed an agreement to form a joint venture bank in China with Shanghai Pudong Development Bank Co., Ltd. ( SPDB ).
This approval is a meaningful step for the Bank in the overall bank licensing process in China. Over the coming several months, the Bank will work with SPDB to develop the necessary infrastructure and prepare the bank for opening. The opening of the joint venture bank will require additional Chinese and U.S. regulatory approvals.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|Date: October 20, 2011||SVB FINANCIAL GROUP|
/s/ GREG BECKER
|Title:||Chief Executive Officer and President|