Expansions in Utah: Silicon Valley Bank and Stewart Title
Silicon Valley Bank Expands in Utah
Salt Lake City – Silicon Valley Bank (SVB) announced it will move to a larger office in the Salt Lake City area in 2018. The new office is in Cottonwood Heights and will provide more space for the local team to support Utah-based technology and life science companies, as well as the global operations for the company.
“The Utah innovation economy has experienced dramatic growth in the last 10 years,” said Gary Jackson, managing director for Silicon Valley Bank in Salt Lake City. “The quality and diversity of local companies forming along with greater VC investment in the region have created a robust ecosystem. Our new, larger space will allow us to foster increased collaboration with our clients and the investment community.”
Silicon Valley Bank, which was founded in 1983 to serve the technology sector, is headquartered in Santa Clara, Calif. and opened its first office in the Salt Lake City area in 2005. The company will take over approximately 28,000 square feet when it moves to the new office at 2750 Cottonwood Parkway. SVB has more than 75 full time employees in Salt Lake City.
Stewart Title Acquires Title West
Stewart Title’s direct operations in Utah announced its asset purchase of the business of Title West, a title agency serving the greater Salt Lake and Utah County areas. As a market with enormous growth potential, the Utah acquisition fits with Stewart’s greater overall expansion plans in 2017.
Stewart and Title West began their partnership in 1987, when Title West joined the Stewart Trusted Provider™ network as an independent agent.
“We’re excited to welcome everyone from Title West into the Stewart Title family,” said Dave Fauth, president of Stewart direct operations. “We have a long history of partnership and we appreciate the dedication they have to their clients and to the industry. We share the same core values of integrity and excellence in customer service—ensuring that this acquisition will benefit both our associates and the community.”
This addition will enable Stewart Title’s Utah direct operations to expand in the thriving Utah County market and will provide Title West’s local customers the world-class real estate transaction experience that Stewart is known for providing.
“Joining with Stewart Title feels like a natural progression of our partnership,” said Mark Day, CEO of Title West. “We are excited to have access to new products and services that will provide our customers with the best possible experience—making the entire closing process faster and more efficient.”