Silicon Valley Bank (SVB), a wholly owned subsidiary of Silicon Valley Bancshares (Nasdaq: SIVB), has hired Daniel Allred at its Research Triangle office.

Allred served as vice president of strategic development with the Council for Entrepreneurial Development (CED). SVB says it will call on Allred to promote SVB’s financing and banking services to the state’s technology and life science industries.

“Dan is well known in the Triangle technology community and has a successful track record in building the kind of environment required to foster entrepreneurial innovation,” Andy Rico, senior relationship manager for SVB in Durham, said in a statement. “His knowledge of the region’s key entrepreneurs, innovators and financiers will enable us to uncover winning deals … the ones with the right mix of innovation, management talent and market potential.”

While at the CED, Allred helped develop the Capital Connection program, which assisted local technology companies in raising $400 million in private equity capital.

“I’m pleased to accept this new position with Silicon Valley Bank,” Allred said in a statement. “Silicon Valley Bank’s understanding of and commitment to the Triangle market is a key factor driving its growth, and its unique and flexible approach to partnership with Emerging Technology clients enables it to succeed at every stage of the business lifecycle.”

Founded in 1983 and headquartered in Santa Clara, CA, Silicon Valley Bank serves more than 9,500 clients across the country through 27 regional offices.