Silicon Valley Bank To Open Operations Facility in Salt Lake

Silicon Valley Bank, a provider of financial services that targets the technology, life sciences, and private equity industries, said that it is opening a operations facility in Utah. The firm said that it will open a support and back-operations facility in Salt Lake City in the first half of 2006. The bank said that the facility is part of the company's business continuity strategy. The facility will employ 50 people, including loan processing, deposit account and transaction processing, customer service, IT help desk and desktop support, and more. SVB said that it will continue to serve its Utah clients through its Portland Oregon office.