TORONTO , May 5, 2020 /PRNewswire/ -- Silicon Valley Bank (SVB), the bank of the world's most innovative companies and their investors, today announced the appointment of Paul Parisi as its new Head of Canada , effective today. In this role, Parisi, formerly the president of PayPal Canada, will provide leadership and strategic oversight for all of Silicon Valley Bank's activities in Canada , including business development, operations and corporate governance.
SVB has served the Canadian market from its US operations since 2000 and secured its lending licence from the Superintendent of Financial Institutions in Canada in February 2019 . SVB provides a range of specialized financial services to Canadian clients such as AcuityAds, HLS Therapeutics, KOHO, Radical Ventures, ResQ and Shopify.
"Silicon Valley Bank is committed to supporting the growth of the Canadian innovation ecosystem and Paul is the ideal leader to help us build on our strong momentum in the market," said David Sabow , Head of Technology and Healthcare Banking in North America . "Paul brings more than two decades of financial services experience and direct experience in the technology sector. He will be a valuable partner to our Canadian clients and an experienced leader for our growing Canada team."
Silicon Valley Bank is dedicated to supporting the global innovation economy and has focused on helping address the unique needs of entrepreneurs, companies and investors in the technology and life science sectors for more than 35 years. The bank works with companies around the world through offices across the US, Canada , the UK, Ireland , Germany , Denmark , Israel and China .
"Silicon Valley Bank is a trusted partner to innovative companies because it understands its clients' needs at all life stages and through the ups and downs of building a business," said Paul Parisi , Head of Canada at Silicon Valley Bank. "I am proud to join the Toronto -based team. Silicon Valley Bank is like no other bank, and I'm looking forward to jumping in and continuing to uphold its mission of increasing its clients' probability of success."
Parisi was previously President of PayPal Canada where he was responsible for the risk, regulatory, operations, sales and go-to-market functions across the business. Prior to PayPal, he was Vice President and General Manager of global commercial payments at American Express Canada. He developed and drove business strategy for corporate payments and small business services and held key leadership positions in Canada, the US and the UK. Parisi earned his bachelor's degree from the University of Guelph .
About Silicon Valley Bank
For more than 35 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centres around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com/canada.
©2020 SVB Financial Group. All rights reserved. SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, MAKE NEXT HAPPEN NOW and the chevron device are trademarks of SVB Financial Group, used under license. Silicon Valley Bank is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group (SIVB). Silicon Valley Bank is an authorized foreign bank branch under the Bank Act ( Canada ). Silicon Valley Bank does not accept deposits from the public in Canada and is not a member of the Canada Deposit Insurance Corporation.
SOURCE Silicon Valley Bank