CFO Steps Down From Silicon Valley Bancshares

Apr 19, 2001, 01:00 ET from Silicon Valley Bancshares

    SANTA CLARA, Calif., April 19 /PRNewswire/ -- Silicon Valley Bancshares
 (the "Company"), parent company of Silicon Bank (the "Bank), announced today
 that Christopher Lutes will step-down from his position of Chief Financial
 Officer effective June 30; Lutes will remain with the Bank on a part-time
 advisory basis.
     "Chris has done a remarkable job ushering the Bank through what has been
 an unparalleled three years in this company's history," said Silicon Valley
 Bank President and CEO Ken Wilcox. "While we will miss his expertise we
 support his decision and we wish him well in his decision to devote more time
 to his family."
     Marc Verissimo, Silicon Valley Bank's Risk Management group manager, will
 assume the acting CFO duties while the Bank conducts its search for a Chief
 Financial Officer.
     Currently, Verissimo oversees the Finance, Legal, Credit Administration
 and Funds Management divisions. Previously, he managed the Northern California
 Lending group, the Bank's largest revenue generating unit.
     "Marc has worked closely with Chris over the years and I am confident that
 the interests of the Bank will be well served during the interim period and
 through the transition," said Wilcox. "Marc's leadership experience, coupled
 with nearly 20 years of banking experience, will ensure that the steady
 financial course that Chris established during his three years as CFO be
 continued."
     Silicon Valley Bank serves emerging growth and middle-market companies in
 targeted niches, focusing on technology and life sciences, while also
 addressing other specific industries in which it can provide a higher level of
 service and better manage credit through specialization and focus.
     The Bank operates throughout the Silicon Valley:  Santa Clara, Palo Alto
 and Sand Hill, the center of the venture capital community in California.
 Other regional offices within California include:  Irvine, Los Angeles, Napa
 Valley, San Diego, San Francisco, Santa Barbara, and Sonoma.  Office locations
 outside of California include:  Phoenix, Arizona; Boulder, Colorado; West Palm
 Beach, Florida; Atlanta, Georgia; Chicago, Illinois; Boston, Massachusetts;
 Minneapolis, Minnesota; Durham, North Carolina; Northern Virginia; Portland,
 Oregon; Philadelphia, Pennsylvania; Austin, Texas; Dallas, Texas; and Seattle,
 Washington.
     More information about Silicon Valley Bank can be found at www.svb.com.
 
 

SOURCE Silicon Valley Bancshares
    SANTA CLARA, Calif., April 19 /PRNewswire/ -- Silicon Valley Bancshares
 (the "Company"), parent company of Silicon Bank (the "Bank), announced today
 that Christopher Lutes will step-down from his position of Chief Financial
 Officer effective June 30; Lutes will remain with the Bank on a part-time
 advisory basis.
     "Chris has done a remarkable job ushering the Bank through what has been
 an unparalleled three years in this company's history," said Silicon Valley
 Bank President and CEO Ken Wilcox. "While we will miss his expertise we
 support his decision and we wish him well in his decision to devote more time
 to his family."
     Marc Verissimo, Silicon Valley Bank's Risk Management group manager, will
 assume the acting CFO duties while the Bank conducts its search for a Chief
 Financial Officer.
     Currently, Verissimo oversees the Finance, Legal, Credit Administration
 and Funds Management divisions. Previously, he managed the Northern California
 Lending group, the Bank's largest revenue generating unit.
     "Marc has worked closely with Chris over the years and I am confident that
 the interests of the Bank will be well served during the interim period and
 through the transition," said Wilcox. "Marc's leadership experience, coupled
 with nearly 20 years of banking experience, will ensure that the steady
 financial course that Chris established during his three years as CFO be
 continued."
     Silicon Valley Bank serves emerging growth and middle-market companies in
 targeted niches, focusing on technology and life sciences, while also
 addressing other specific industries in which it can provide a higher level of
 service and better manage credit through specialization and focus.
     The Bank operates throughout the Silicon Valley:  Santa Clara, Palo Alto
 and Sand Hill, the center of the venture capital community in California.
 Other regional offices within California include:  Irvine, Los Angeles, Napa
 Valley, San Diego, San Francisco, Santa Barbara, and Sonoma.  Office locations
 outside of California include:  Phoenix, Arizona; Boulder, Colorado; West Palm
 Beach, Florida; Atlanta, Georgia; Chicago, Illinois; Boston, Massachusetts;
 Minneapolis, Minnesota; Durham, North Carolina; Northern Virginia; Portland,
 Oregon; Philadelphia, Pennsylvania; Austin, Texas; Dallas, Texas; and Seattle,
 Washington.
     More information about Silicon Valley Bank can be found at www.svb.com.
 
 SOURCE  Silicon Valley Bancshares

RELATED LINKS

http://www.sivb.com