Silicon Valley Bank Expands In Arizona

Silicon Valley Bank, which serves the startup and technology industry in Silicon Valley, said Tuesday that it is opening up a new IT and operations center in Arizona. The bank said the center, to be based in Tempe, Arizona, will employ "hundreds" of staff, including both IT and financial operations professionals. The bank said it selected the Phoenix area, due to availability of financial candidates to fill positions, affordable living, proximity to its headquarters, and the number of technology and life science businesses in the region.