Silicon Valley Bank pitches its comeback story

Silicon Valley Bank has started to see the return of depositors and investors who pulled their money earlier this year. — Bloomberg

Las Vegas: In a quiet, beige hospitality suite tucked away in Las Vegas’s Venetian hotel, executives at Silicon Valley Bank – the tech-friendly lender which collapsed after a bank run – gathered to hammer home a message: The bank is back.

After failing in a matter of days and largely being subsumed by regional lender First Citizens BancShares Inc weeks later, the business – now a unit of First Citizens and still using its old name – is fighting to win back clients and reassert itself as a go-to financial partner for startups and venture capital funds.