LONDON, Sept 22 (Reuters) - California-based Silicon Valley Bank (SIVB.O) (SVB) has hired former TSB Bank executive Darren Pope as Chairman of its newly-formed British subsidiary, as it expands its business advising on tech deals despite the darkening economic outlook. Initial public offerings have been even harder-hit, with funds raised plunging 88% this year compared to 2021 to just $1.2 billion, according to the Refinitiv data. "A lot of money has been raised by venture capital and that money is time-bound," Platts said, meaning it has to be invested, giving Silicon Valley Bank confidence to grow its British business despite the tougher macro environment. Silicon Valley bank hired more than 150 staff across finance, risk and compliance roles in Europe in 2021, Reuters reported in July last year, as it looked to connect investors with tech firms across the continent. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting By Lawrence White; editing by David EvansOur Standards: The Thomson Reuters Trust Principles.

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