FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * Parsons Joan   2. Issuer Name and Ticker or Trading Symbol SVB FINANCIAL GROUP [SIVB] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Head of US Banking (Last) (First) (Middle) 3005 TASMAN DRIVE 3. Date of Earliest Transaction (Month/Day/Year) 02/29/2012 (Street) SANTA CLARA, CA 95054 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 02/29/2012 02/29/2012 M   1,250 A $ 31.29 55,163 D   Common Stock 02/29/2012 02/29/2012 M   2,500 A $ 22.5 57,663 D   Common Stock 02/29/2012 02/29/2012 M   1,075 A $ 43.49 58,738 D   Common Stock 02/29/2012 02/29/2012 S(1)   15,000 D $ 59.78 43,738 D   Common Stock 03/01/2012 03/01/2012 M   3,750 A $ 31.29 47,488 D   Common Stock 03/01/2012 03/01/2012 M   7,500 A $ 22.5 54,988 D   Common Stock 03/01/2012 03/01/2012 M   2,425 A $ 43.49 57,413 D   Common Stock 03/01/2012 03/01/2012 S(2)   2,581 D $ 60.84 54,832 D   Common Stock 03/01/2012 03/01/2012 S(3)   2,002 D $ 60.8 52,830 D   Common Stock 03/01/2012 03/01/2012 S(4)   4,383 D $ 60.74 48,447 D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Options

$ 31.29

02/29/2012

02/29/2012

M

1,250

04/17/2003

04/17/2012

Common Stock

1,250

$ 31.29

54,450

D

Stock Options

$ 22.5

02/29/2012

02/29/2012

M

2,500

09/04/2003

09/04/2012

Common Stock

2,500

$ 22.5

51,950

D

Stock Options

$ 43.49

02/29/2012

02/29/2012

M

1,075

04/01/2006

04/01/2012

Common Stock

1,075

$ 43.49

50,875

D

Stock Options

$ 31.29

03/01/2012

03/01/2012

M

3,750

04/17/2003

04/17/2012

Common Stock

3,750

$ 31.29

47,125

D

Stock Options

$ 22.5

03/01/2012

03/01/2012

M

7,500

09/04/2003

09/04/2012

Common Stock

7,500

$ 22.5

39,625

D

Stock Options

$ 43.49

03/01/2012

03/01/2012

M

2,425

04/01/2006

04/01/2012

Common Stock

2,425

$ 43.49

37,200

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Parsons Joan 3005 TASMAN DRIVE SANTA CLARA, CA 95054			Head of US Banking

Signatures

Lisa Bertolet as attorney in fact		03/02/2012
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The reporting person sold a total of 15,000 shares. The sales were conducted in a series of separate transactions, with an average sale price per share of $59.78 (between price ranges of $59.61 to $60.08). Complete information regarding the number of shares sold at each separate sale price may be provided upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.
(2)	The reporting sold a total of 2,581 shares from the exercise of stock options expiring 4/17/2012. The sales were conducted in a series of separate transactions, with an average sale price per share of $60.88 (between price ranges of $60.83 to $60.86). Complete information regarding the number of shares sold at each separate sale price may be provided upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.
(3)	The reporting sold a total of 2,002 shares from the exercise of stock options expiring 4/1/2012. The sales were conducted in a series of separate transactions, with an average sale price per share of $60.80 (between price ranges of $60.78 to $60.83). Complete information regarding the number of shares sold at each separate sale price may be provided upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.
(4)	The reporting sold a total of 4,383 shares from the exercise of stock options expiring 9/4/2012. The sales were conducted in a series of separate transactions, with an average sale price per share of $60.74 (between price ranges of $60.70 to $60.80). Complete information regarding the number of shares sold at each separate sale price may be provided upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

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