First Citizens Appoints Cadieux President of Silicon Valley Bank Commercial

First Citizens Bank appointed Marc Cadieux, a 30-year veteran of Silicon Valley Bank, president of Silicon Valley Bank’s commercial banking business. Based in the California Bay Area, Cadieux will lead the SVB Commercial team of more than 1,000 bankers and report to Peter Bristow, president of First Citizens Bank.

In late March, First Citizens Bank entered into an agreement with the Federal Deposit Insurance Corporation to purchase out of FDIC receivership substantially all loans and certain other assets and assume all customer deposits and certain other liabilities of Silicon Valley Bank following SVB’s failure earlier this year.

“We recognize SVB Commercial’s critical role in the innovation economy and the success the team continues to have in serving clients,” Bristow said. “Marc has been key to that success, and with his impressive industry experience, credit acumen and three-decade tenure at SVB, he and his team will continue to play a critical role in advancing SVB’s unique strategy and business model. We are committed to enabling our SVB Commercial division to be the most sought-after financial partner to clients in the innovation economy.”

The SVB Commercial leadership team includes SVB veterans Jesse Hurley, head of global fund banking; Gagan Kanjlia, chief product officer; Joan Parsons, head of technology and life science banking; and Michael Tramack, head of loan administration.

“Over my career at SVB, I’ve seen firsthand the unmatched value and support we bring to our clients though economic cycles,” Cadieux said. “I’m humbled to be in this new role as president of SVB Commercial and looking forward to the opportunities ahead to help our clients meet their ambitious goals. Our leadership team includes industry and company veterans who have the experience and expertise to drive our business forward and deliver for our clients as they continue to grow and scale.”

Prior to his current role, Cadieux held various senior roles at Silicon Valley Bank, including, most recently, chief credit officer, where he oversaw credit policy and process, credit underwriting, loan approval and portfolio management activities. He also held various roles in credit, sales and relationship management, including assistant chief credit officer, Peninsula region manager and risk manager for the eastern U.S. division as well as the UK, Israel and Canada. Cadieux also served as an executive sponsor for the company’s women’s employee resource group focused on professional and career building opportunities.

Prior to joining Silicon Valley Bank in 1992, Cadieux worked at Pacific Western Bank and Bank of New England.

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