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Local Tech Wire

DURHAM, N.C. – Alan Spurgin, a veteran finance executive with several different financial institutions, is joining as executive vice president.

Spurgin will over see Square 1’s technology and later stage lending efforts.

Square 1 focuses primarily on venture capital firms and VC-backed companies.

“Over the course of his career, Alan has demonstrated an ability to leverage strengths in new markets regardless of economic cycles,” said the Square 1 Chief Credit Officer Susan Casey. “We look forward to his contributions in taking Square 1 to the next level during the period of expansion we foresee in 2010 and beyond.”

Spurgin has worked at Silicon Valley Bank, Wachovia Securities and Scotia Capital.

A Colorado resident, Spurgin earned a Masters in business at the University of Maryland and an undergraduate degree at the University of Illinois.