Silicon Valley Bank in Santa Clara, Calif., has hired Laura Izurieta as its chief risk officer.

Izurieta will lead the $42.5 billion-asset SVB's risk management, corporate compliance and regulatory relations functions and serve on the executive management team. She spent 16 years at Capital One, most recently as chief risk officer of the retail and direct bank. Before that, she worked at Freddie Mac for almost eight years as a director in product development.

Greg Becker, president and chief executive of SVB Financial Group, said in a Wednesday news release that in the bank's "many years helping the innovation economy succeed, we have had to become very good at managing risk," and that the hiring of Izurieta adds "a deep understanding of financial services and critical knowledge of the regulatory environment" to the team.

Izurieta succeeds Marc Verissimo, who is set to retire Nov. 1, according to a spokeswoman for the bank. Verissimo is working with the bank's U.K. and Israel teams in the meantime. He joined SVB in 1993.