EXHIBIT 23.1

Consent of Independent Registered Public Accounting Firm

The Stockholders and Board of Directors        

SVB Financial Group:

We consent to the incorporation by reference in the registration statements (Nos. 333-234694, 333-213281, 333-213279, 333-198147, 333-192471, 333-188707, 333-183323, 333-176232, 333-168836, 333-134655, 333-133262, 333-118091, 333-108434, 333-92410, 333-59590, 333-39680, 333-89641, 333-68857, 333-28185, 333-05489, 033-60467) on Form S-8 and registration statement (No. 333-234713) on Form S-3 of SVB Financial Group and subsidiaries (the Company) of our report dated February 28, 2020, with respect to the consolidated balance sheets of SVB Financial Group and subsidiaries as of December 31, 2019 and 2018, the related consolidated statements of income, comprehensive income, stockholders’ equity, and cash flows for each of the years in the three-year period ended December 31, 2019, and the related notes (collectively, the consolidated financial statements), and the effectiveness of internal control over financial reporting as of December 31, 2019, which report appears in the December 31, 2019 annual report on Form 10‑K of the Company.

/s/ KPMG LLP

San Francisco, California

February 28, 2020