Mitsubishi UFJ Financial Group has hired more than 20 people from Silicon Valley Bank as the Japanese firm builds out its technology, media and telecom banking group.
(Bloomberg) — Mitsubishi UFJ Financial Group has hired more than 20 people from Silicon Valley Bank as the Japanese firm builds out its technology, media and telecom banking group.
The move includes five senior executives and is part of MUFG’s expansion to support pre-IPO growth and middle-market public companies, according to Oksana Poltavets, a spokesperson for MUFG. The bank launched its emerging technology banking business three years ago, she added.
The hires mark the latest example of talent leaving troubled Silicon Valley Bank, which First Citizens BancShares Inc. agreed to buy after a run on deposits wiped out SVB in the biggest US bank failure in more than a decade. Meanwhile, HSBC Holdings Plc’s US arm is also hiring four bankers from SVB to build out a new healthcare and technology banking practice.
“First Citizens acquired Silicon Valley Bank knowing it had the deepest bench of experts serving the innovation economy and that remains unchanged,” said John Moran, a spokesperson for First Citizens, in an emailed statement.
The latest MUFG hires include Bob Blee, who has joined as a managing director and head of growth and middle-market technology banking for the Americas. He will report to Bill Davidson, global head of TMT banking, and be based in the Bay Area. Blee previously led SVB’s technology corporate banking division.
Other managing director hires, who will report to Blee, include:
- Brian Boatman as head of sales, based in Seattle. He oversaw SVB’s corporate banking practice in the Pacific Northwest, Southern California, Rocky Mountains, Southwest, South, and the Midwest
- Brian Fitzpatrick as head of venture capital relationship management and the Northern California Region, based in the Bay Area. He was responsible for SVB’s Northern California market, leading teams covering the software, consumer, internet, financial technology, and hardware sectors
- Mike Shuhy as head of credit solutions, based in Boston. He was SVB’s head of corporate banking credit solutions
In addition, John Atanasoff is joining as a managing director and dedicated credit partner. He will report to chief credit officer Larry Bressler, and formerly held the role of credit risk manager at SVB.
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