Silicon Valley Bank (SVB) has recruited Richard Faulkner from Barclays and made him their managing director.

The experienced technology banker is SVB's first hire to be located outside of the bank’s London office and will lead the bank's Northern expansion from Manchester.

Faulkner is an experienced technology banker with a 20-year track record, almost half of which has been spent providing capital to Northern tech companies at Barclays.

He joined Barclays in 2009 and was head of technology, media and telecoms across the North of England.

Richard Faulkner, Silicon Valley Bank’s managing director – technology banking, said: "This is a testament to the strength and quality of the Northern tech ecosystem and I look forward to offering Northern innovation businesses an alternative tech banking proposition."

Simon Bumfrey, SVB’s head of UK and Ireland technology banking, added: "This is an exciting moment for Silicon Valley Bank and for clients and investors across the North of England and Scotland.

"Richard's appointment underscores our intent to build a regional platform across the UK and support the continued development of the technology ecosystem from startup phase through to publically listed businesses."

Silicon Valley Bank is committed to supporting the UK's vibrant innovation sector and the entrepreneurs leading high-growth, disruptive technology businesses.

SVB lends to businesses such as Trustpilot, Performance Horizon, The Hut Group, Secret Escapes and Made.com as they pave the way towards further growth.