In April 2011, I had just turned 63 and was supposed to retire after a 30-year career at Silicon Valley Bank (SVB), the final decade of which was spent as CEO. Somehow, things turned out a little differently.
Rather than pursue hobbies or get involved with nonprofits, my wife and I moved to China. SVB’s Board had asked me to found a brand-new bank: the Shanghai Pudong Development Silicon Valley Bank (SPD SVB), a joint venture between SVB and the state-owned Shanghai Pudong Development Bank.
The board had committed $100 million to establishing SVB’s operations in China, and I was filled with goodwill and optimism about the endeavor.
Although I thoroughly enjoyed my time in China and the many friends I met there, from today’s vantage point, I firmly believe we were (and are still) being played.
Despite SVB’s recent failure, I remain committed to its original vision and take pride in the work the bank did to fund innovation. By taking its unique model to China
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