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SVB Financial Group names successor to retiring COO

Santa Clara, Calif.-based SVB Financial Group's COO Michael Dreyer will retire April 1 after three years of heading the company's operations.

Phil Cox, who currently serves as the head of EMEA and president of the Silicon Valley Bank, U.K. branch will succeed Dreyer.

Erin Platts, who most recently served as head of relationship banking for Europe, will replace Cox as the head of EMEA and president of the U.K. branch, pending U.K. regulatory approval.

Following his retirement, Dreyer will become a consultant for the company and advise on certain operations and technology initiatives.

Silicon Valley Bank is a subsidiary of SVB Financial.