Latest news with #SiliconValleyBank
Economic Times
10 hours ago
- Business
- Economic Times
HSBC's next move could shake up India's venture debt play
The 1GBP acquisition of the UK unit of collapsed Silicon Valley Bank in early 2023 opened new avenues for global banking major Hong Kong and Shanghai Banking Corp (HSBC). The move offered a quick start to its startup banking division, HSBC Innovation Banking. SVB's clients – 3,000 European startups and venture capital funds – became its customers overnight. HSBC Innovation Banking then spread its wings to the US, Israel, and Hong Kong. Its next
Yahoo
3 days ago
- Business
- Yahoo
Evercore Wealth Management Expands San Francisco Office with Appointments of Ryan Fox, Flavia Araujo Trento, Brandon Frandsen and Winnie Yam
NEW YORK, June 02, 2025--(BUSINESS WIRE)--Evercore Wealth Management today announced the expansion of the firm's San Francisco office with the appointment of Ryan Fox, Flavia Araujo Trento, Brandon Frandsen and Winifred (Winnie) Yam. All four join Evercore from Silicon Valley Bank, a division of First Citizens Bank, and earlier worked at Northern Trust. "This is an exciting development for our firm," said Chris Zander, CEO of Evercore Wealth Management and Evercore Trust Company N.A. "Our new colleagues have substantial experience providing comprehensive wealth management solutions to ultra-high-net-worth families, entrepreneurs and executives in technology and other high-growth sectors. They will partner with our Evercore teams in San Francisco and Menlo Park to serve clients and their families." Jon Kropf, who joined Evercore Wealth Management and Evercore Trust Company in January 2025 as head of the San Francisco office, added, "Ryan, Flavia, Brandon and Winnie are accomplished wealth management professionals and complementary team players. We are pleased to integrate them into our distinctive culture and platform. They bring technical expertise and exemplary client relationship skills and will contribute to the continued growth of our firm." Ryan Fox, partner and portfolio manager, worked as a private wealth advisor at Silicon Valley Bank. He was previously a senior portfolio manager at Northern Trust and Highmark Capital Management. Mr. Fox earned a B.A. from Boston College. Flavia Araujo Trento, partner and portfolio manager, was a private wealth advisor at Silicon Valley Bank. Previously, she was a portfolio manager at Northern Trust and Highmark Capital Management. Ms. Trento earned a B.A. from the University of California at Berkeley and an MBA from the UCLA Anderson School of Management. She holds the chartered financial analyst and certified private wealth advisor certifications. Brandon Frandsen, managing director and wealth & fiduciary advisor, worked as a senior wealth strategist at Silicon Valley Bank. He previously was with Northern Trust, Wells Fargo and Andersen Tax. He earned a B.S. from Westminster University and an M.A. at the University of Notre Dame's Mendoza College of Business. Winnie Yam, director and wealth & fiduciary advisor, worked as a private wealth advisor at Silicon Valley Bank and Northern Trust. She earned a B.A. from San Francisco State University and holds the certified financial planner certification. About Evercore Wealth Management Evercore Wealth Management LLC, a subsidiary of Evercore Inc., serves high-net-worth families, foundations and endowments across the United States, delivering customized strategic wealth planning, investment management and trust and custody services. The firm manages $13.6 billion in client assets as of March 31, 2025. Additionally, Evercore Wealth Management offers personal trust and custody services to its clients through its Wilmington, Delaware-based affiliate Evercore Trust Company N.A., a national trust bank regulated by the Office of the Comptroller of the Currency. More information about planning, investing and personal fiduciary services at Evercore Wealth Management and Evercore Trust Company N.A. can be found at View source version on Contacts Media Contact:Aline SullivanLexicon Associates, for Evercore Wealth Management and Evercore Trust 203.918.3389 Investor Contact:Katy HaberHead of Investor Relations & ESGInvestorRelations@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
3 days ago
- Business
- Business Wire
Evercore Wealth Management Expands San Francisco Office with Appointments of Ryan Fox, Flavia Araujo Trento, Brandon Frandsen and Winnie Yam
NEW YORK--(BUSINESS WIRE)--Evercore Wealth Management today announced the expansion of the firm's San Francisco office with the appointment of Ryan Fox, Flavia Araujo Trento, Brandon Frandsen and Winifred (Winnie) Yam. All four join Evercore from Silicon Valley Bank, a division of First Citizens Bank, and earlier worked at Northern Trust. 'This is an exciting development for our firm,' said Chris Zander, CEO of Evercore Wealth Management and Evercore Trust Company N.A. 'Our new colleagues have substantial experience providing comprehensive wealth management solutions to ultra-high-net-worth families, entrepreneurs and executives in technology and other high-growth sectors. They will partner with our Evercore teams in San Francisco and Menlo Park to serve clients and their families.' Jon Kropf, who joined Evercore Wealth Management and Evercore Trust Company in January 2025 as head of the San Francisco office, added, 'Ryan, Flavia, Brandon and Winnie are accomplished wealth management professionals and complementary team players. We are pleased to integrate them into our distinctive culture and platform. They bring technical expertise and exemplary client relationship skills and will contribute to the continued growth of our firm.' Ryan Fox, partner and portfolio manager, worked as a private wealth advisor at Silicon Valley Bank. He was previously a senior portfolio manager at Northern Trust and Highmark Capital Management. Mr. Fox earned a B.A. from Boston College. Flavia Araujo Trento, partner and portfolio manager, was a private wealth advisor at Silicon Valley Bank. Previously, she was a portfolio manager at Northern Trust and Highmark Capital Management. Ms. Trento earned a B.A. from the University of California at Berkeley and an MBA from the UCLA Anderson School of Management. She holds the chartered financial analyst and certified private wealth advisor certifications. Brandon Frandsen, managing director and wealth & fiduciary advisor, worked as a senior wealth strategist at Silicon Valley Bank. He previously was with Northern Trust, Wells Fargo and Andersen Tax. He earned a B.S. from Westminster University and an M.A. at the University of Notre Dame's Mendoza College of Business. Winnie Yam, director and wealth & fiduciary advisor, worked as a private wealth advisor at Silicon Valley Bank and Northern Trust. She earned a B.A. from San Francisco State University and holds the certified financial planner certification. About Evercore Wealth Management Evercore Wealth Management LLC, a subsidiary of Evercore Inc., serves high-net-worth families, foundations and endowments across the United States, delivering customized strategic wealth planning, investment management and trust and custody services. The firm manages $13.6 billion in client assets as of March 31, 2025. Additionally, Evercore Wealth Management offers personal trust and custody services to its clients through its Wilmington, Delaware-based affiliate Evercore Trust Company N.A., a national trust bank regulated by the Office of the Comptroller of the Currency. More information about planning, investing and personal fiduciary services at Evercore Wealth Management and Evercore Trust Company N.A. can be found at
Miami Herald
7 days ago
- Business
- Miami Herald
Forget tariffs, major grocery chain unveils its own cheap wine
The wine industry has faced the same decline in consumer demand that other alcoholic beverage industries have experienced in the last year. While the spirits industry has dealt with economic issues, with spirits supplier sales in the U.S. declining 1.1% in 2024 to $37.2 billion, the wine industry also struggled last year. Don't miss the move: SIGN UP for TheStreet's FREE Daily newsletter Wine industry metrics flattened out after three decades of sustained growth, mainly driven by Baby Boomer consumers, according to Silicon Valley Bank's State of the U.S. Wine Industry Report 2025. Related: Popular Trader Joe's wine brand has bad news, making harsh choice A reduction in wine consumption and a supply imbalance was influenced by a fundamental shift in consumer demographics, along with the resurgence of anti-alcohol campaigns, the report said. The reduction in demand was influenced by a decline in the "wine-friendly" Boomer population and a change in sentiment toward alcohol. The decrease in consumer sales led to bankruptcy filings from some significant wine companies, such as Vintage Wine Estates, which filed for bankruptcy in July 2024. The debtor, which once owned about 60 labels such as Girard Winery, B.R. Cohn, Kunde, Viansa Sonoma, and Windsor Vineyards, on July 24, 2024, filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware listing $475 million in assets and $400 million in liabilities. The Santa Rosa, Calif.-based debtor won approval in September 2024 to sell off its wineries and brands to several buyers in a bankruptcy auction for over $140 million. Tariffs on imported and exported wines have not yet taken full effect, leaving the U.S. wine industry in limbo about what to expect in the months ahead. U.S tariffs on imported wine, which include 30% on South African wine, 20% on European Union wine, and 17% on Israeli wine, have been paused for 90 days. But wine is included in the U.S. 10% tariff on all imports. A combination of tariffs and rising prices driven by inflation is bound to increase the cost of wine. The easy answer for consumers is to seek out good-quality wines at reasonable prices. That answer might come from a couple of grocery chains that are in a battle to sell some of the lowest-priced wine on the market. Discount grocery store chain Grocery Outlet Bargain Market launched a challenge to Trader Joe's Charles Shaw line of wines, known as "Two Buck Chuck," as it introduced its private label Second Cheapest Wine. Related: Winemakers uncover a worrisome new problem Grocery Outlet in April rolled out five varieties of Second Cheapest Wine, including Sonoma Valley Chardonnay, Napa Valley Chardonnay, Willamette Valley Pinot Noir, Anderson Valley Cabernet Sauvignon, and Sonoma Sauvignon Blanc, each priced at $4.99 a bottle. The grocery chain's least expensive bottles of wine are usually as low as $3.99, but lower-priced bottles can sometimes be found at the stores. More retail: Popular retail chain to close unprofitable store locationsBankrupt retail chain unloads store leases, key assetPopular discount retailer files bankruptcy, closes all stores The Emeryville, Calif.-based grocery chain embraces the title of "Second Cheapest Wine," as Trader Joe's "Two Buck Chuck" currently sells for $3.49 a bottle, according to its website. Trader Joe's charged $1.99 a bottle when it launched Charles Shaw wines, or "Two Buck Chuck," in 2002, before it raised the price in 2013 to $2.49 a bottle. Charles Shaw wines include Pinot Grigio, White Zinfandel, Shiraz, Sauvignon Blanc, Red Blend, Cabernet Sauvignon, Merlot, and Chardonnay. Grocery Outlet's roots date back to 1946, when its founder, Jim Read, opened a military surplus store selling goods at discount prices. The business transitioned into a discount grocery chain with over 400 stores nationwide, according to its website. Related: Struggling wine and spirits company files Chapter 11 bankruptcy The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Finextra
23-05-2025
- Business
- Finextra
Keep raises C$33m to build Canada's Brex
Keep, an all-in-one financial platform for small businesses, has emerged from stealth with C$33 million in equity financing to build a Canadian Brex. 0 Tribe Capital led the round, with participation from Rebel Fund, Liquid2 Ventures, Cambrian, Assurant Ventures and a host of angels including execs from the likes of Robinhood, Venmo, Stripe, Plaid, Chime, Coinbase, Ramp, and Alloy. The startup has also secured a C$71 million credit facility from Coventure and a C$4 million venture debt line from Silicon Valley Bank. Keep argues that Canada's $500 billion plus small business banking market remains dominated by legacy players offering outdated software, subpar customer service, and rigid underwriting processes that cripple firms' ability to flourish. While the likes of Brex, Mercury, and Ramp have made strides in the US, Canadian entrepreneurs have lacked similar options. Keep is vowing to bring this financial revolution north of the border with an offering specifically designed for Canadian tax systems, banking regulations, and business needs. Clients get a business credit card, automated expense management, multi-currency accounts, and flexible global bill pay - all designed to eliminate the fragmented, fee-heavy options that burden business owners today. Despite only now emerging from stealth, the startup hit C$20 million in annualised revenue last year, onboarding over 3,000 SMBs across a diverse mix of industries. "Traditional banks have failed Canadian entrepreneurs for too long," says Oliver Takach, CEO, Keep. "We're building the financial operating system that Canada's small businesses actually need - one that provides the technology, tools, and services to help them thrive."
