Press release
Marc Cadieux Appointed President of Silicon Valley Bank Commercial
First Citizens Bank named former SVB Chief Credit Officer to lead the industry's most experienced commercial banking team dedicated to the innovation economy
About this update from First Citizens Bancshares, Inc.
[{"type":"text","content":"First Citizens Bank named former SVB Chief Credit Officer to lead the industry's most experienced commercial banking team dedicated to the innovation economy \nRALEIGH, N.C., June 8, 2023 /PRNewswire/ -- First Citizens Bank today announced that Marc Cadieux, a 30-year veteran of Silicon Valley Bank (SVB), has been appointed President of Silicon Valley Bank's commercial banking business. Based in the California Bay Area, Cadieux leads an SVB Commercial team of more than 1,000 experienced bankers nationwide who are dedicated to the innovation economy. Cadieux reports to Peter Bristow, president of First Citizens Bank.\n\n \n \n \n \n \n \n\n \nSVB has been the leader in serving the innovation economy for 40 years. Following its recent acquisition by First Citizens, the SVB Commercial division continues to provide specialized banking solutions, industry partnerships, and leading market insights and expertise to companies and investors in the technology, life sciences and healthcare, private equity, and venture capital sectors.\n\"We recognize SVB Commercial's critical role in the innovation economy and the success the team continues to have in serving clients,\" said Bristow. \"Marc has been key to that success, and with his impressive industry experience, credit acumen and three-decade tenure at SVB, he and his team will continue to play a critical role in advancing SVB's unique strategy and business model. We are committed to enabling our SVB Commercial division to be the most sought-after financial partner to clients in the innovation economy.\"\nAveraging 21 years in banking at SVB, the SVB Commercial leadership team has deep market, segment and executive leadership and includes SVB veterans Jesse Hurley, head of Global Fund Banking; Gagan Kanjlia, chief product officer; Joan Parsons, head of Technology and Life Science Banking and Michael Tramack, head of Loan Administration.\n\"Over my career at SVB, I've seen firsthand the unmatched value and support we bring to our clients though economic cycles,\" said Cadieux. \"I'm humbled to be in this new role as president of SVB Commercial and looking forward to the opportunities ahead to help our clients meet their ambitious goals. Our leadership team includes industry and company veterans who have the experience and expertise to drive our business forward and deliver for our clients...