Silicon Valley Bank has bolstered its newly-formed UK Private Equity Services Group with two new hires.
Former Axon Capital partner Allan Majotra, pictured, becomes a director of the group while current SVB employee Namita Anand has been made a relationship manager.
UK Chancellor of the Exchequer George Osborne hailed SVB’s opening of a UK commercial banking arm in June as proof of Britain becoming the continent’s technology hub.
Its London office made SVB the first US bank to open a commercial branch in London for several years.
Majotra said, “SVB’s dedication to and long term ambition for the venture capital and private equity sector mirrors my own, and I am very excited to be leading the Group at such an important stage in the evolution of the UK branch.
“The bank is the clear partner of choice for the leading venture and private equity firms in the US and we are dedicated to achieving the same in Europe.”
In his previous role Allan invested in Europe, Latin America and India and helped raise two new funds.
Experienced in venture and private equity and banking and management within the TMT and energy sectors, he also previously served as director of business development and marketing at eBay and vice president in the Specialised Industries Group of Union Bank.
Phil Cox, president of SVB’s UK Branch, said, “Our commitment to the private equity and venture capital markets is demonstrated by the high calibre of these two new appointments.
“The extensive knowledge and strong leadership skills that they bring to the business will be of tremendous value as we continue to focus on becoming the bank of account for the private equity, venture capital and technology ecosystems.”
SVB has backed some of the best-known technology brands in the world over the years, including Cisco, Evernote, Mozilla and Pinterest, as well as making investments in firms such as Sequoia Capital, NEA and Silver Lake.
The bank’s parent company, SVB Financial Group, said it also plans to open the first joint venture bank in China since 1997 later this year.
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