The bank works with businesses in areas ranging from IT to life sciences.

Silicon Valley Bank, which provides services including private banking, is expanding in Arizona with enlarged office space.

The firm, which as its name suggests, is closely tied to the technology sector and areas such as life sciences and healthcare, has secured an additional 60,000 square feet of office space in Tempe. It plans to move in the first quarter of next year. The bank intends to grow its presence by more than 300 employees in the next three years, it said in a statement yesterday.

Silicon Valley Bank is located at Hayden Ferry Lakeside near Tempe Town Lake and has more than 700 employees. With the expansion, the company now has 190,000 square feet in the Hayden Ferry Office Complex. The roles to be filled in the new Tempe location include IT, finance, operations and corporate shared services.