First Citizens BancShares in Raleigh, N.C., will rebrand several businesses it gained from recent acquisitions.
The $225 billion-asset company said in a press release that Silicon Valley Bank will become First Citizens Innovation Banking and First Citizens Fund Banking. CIT Commercial Services and the Silicon Valley Bank Wine division will rebrand as First Citizens Bank.
The changes will occur in the fourth quarter.
“Following our acquisitions … our clients have seen that their tailored experience has been retained under First Citizens for the last several years, and that is not changing,” Frank Holding Jr., First Citizens’ chairman and CEO, said in the release.
“Our brand strategy is aligning with our business strategy and another sign of our long-term commitment to the innovation economy and the private equity sector,” Holding added. “The experience we offer will stay the same. Only the names will change, and we continue to invest in our capabilities to make the experience for our clients even better.”