Silicon Valley Bank Names Veteran Megan Scheffel as Head of Healthcare Banking

Silicon Valley Bank's New Leadership in Healthcare Banking

In a recent move to enhance its national Life Science and Healthcare Banking sector, Silicon Valley Bank (SVB), a division of First Citizens Bank, announced the appointment of Megan Scheffel as the new Head of Life Science and Healthcare Banking. With an impressive 28-year-long tenure at SVB, Scheffel is poised to lead a dedicated team focused on delivering specialized banking services tailored to the needs of companies and investors within the healthcare arena.

Megan Scheffel takes on her new role based in Washington D.C., reporting directly to Marc Cadieux, the President of Silicon Valley Bank. Her extensive background within the bank has equipped her with the necessary insights and experience to guide a group dedicated to providing crucial debt financing solutions, forming industry partnerships, and offering market insights crucial for the success of their clients.

"For more than 40 years, Silicon Valley Bank has played a vital role in supporting founders and investors across the innovation economy," stated Cadieux. He emphasized the bank's commitment to continually adapting to the needs of these sectors and expressed confidence in Scheffel's leadership abilities. "With her extensive experience and industry expertise, she is well-positioned to guide our team as we continue to deliver the financial solutions and partnerships our Life Science and Healthcare clients rely on to grow and succeed."

Prior to becoming Head of Life Science and Healthcare Banking, Scheffel served as Global Senior Credit Officer specializing in the same domain. Her history with the company began in 1997, and throughout her career at SVB, she has taken on various roles which include managing the Southeast and Mid-Atlantic regions. In these capacities, she led teams with a focus on serving emerging and established technology as well as life science firms.

In conjunction with Scheffel's appointment, Silicon Valley Bank has also announced the hiring of Bill Burkoth as Senior Managing Director for the Life Science and Healthcare sector's East region. With 25 years of experience in the industry, Burkoth was previously the Managing Partner for Life Sciences at Forest Road. He has also served as a Managing Partner for SVB Capital's Life Science and Healthcare investment team and was a founding member of Pfizer Ventures. His extensive track record includes sourcing and leading numerous investments in groundbreaking fields such as biotechnology, medical devices, and diagnostics.

As SVB continues to evolve, the combination of Scheffel's and Burkoth's extensive backgrounds in healthcare banking positions the institution to better support the diverse needs of the life science sector. In addition to their leadership, SVB provides commercial banking services for various sectors, including technology and private equity, reinforcing its integral role in the innovation economy.

Founded over four decades ago, Silicon Valley Bank has consistently supported innovation and entrepreneurship, establishing a reputable foothold in the financial industry. The bank's commitment to addressing the unique banking needs of technology and life science companies through deep sector insight and specialized financial services ensures its position as a pivotal player in fostering growth in these critical industries.

With Megan Scheffel at the helm, clients can expect a renewed focus on innovative financial solutions tailored to the specific demands of the life science and healthcare sectors. As these areas grow in complexity and importance, SVB remains dedicated to providing essential support to its clients, thus further solidifying its role as a trusted partner in the world of innovative banking.