Santa Clara, CA
-- July 2, 2001 -- Silicon Valley Bank (the "Bank"), a wholly
owned subsidiary of Silicon Valley Bancshares, announced today
its Northern California regionalization strategy, with the
conversion of its Technology and Life Sciences Divisions of
Northern California to regional offices.
Silicon Valley Bank's regional structure is a
response to the geographical dispersion of technology companies
throughout the Bay Area.
"By being physically closer to our clients,
Silicon Valley Bank becomes better positioned to meet client
needs, provide a heightened level of customer care and respond
to shifts in regional market conditions," said Ken Wilcox,
president and chief executive officer of Silicon Valley Bank.
"Regionalization also increases the Bank's visibility in the
local marketplace - a fact that will help us attract new
clients and continue to grow our market share."
Effective today, the Technology and Life
Sciences Divisions in Northern California will convert to a
three-region structure. The first physical extension of
regionalization is the existing San Francisco office located at
China Basin Landing. The following offices will open in a
phased rollout: the Peninsula office in September 2001 and the
new South Bay office in June 2002, with a satellite office in
Fremont opening in December 2001.
Teresa Heller will remain group manager of the
Bank's Northern California Banking Group. The three regions
will be managed as follows: Silvia Fernandez, San Francisco;
Peter Kidder, Peninsula; and Chris Coleman, South Bay.
Each regional office will act as a stand-alone
bank, complete with client service teams and products and
services representatives. The industry specialization that is a
hallmark of Silicon Valley Bank will be maintained, with each
office housing teams from the Bank's Software and Services,
Life Sciences and Communications and Electronics practices. In
addition, Silicon Valley Bank Emerging Technologies officers,
reporting to Division Manager Mark Horn, will reside in each
"Regionalization is a concept Silicon Valley
Bank has embraced nationwide with its 25 regional offices,"
said Heller. "It's a strategy that's proven overwhelmingly
successful for the Bank and will have long-term benefits for
the Northern California divisions."
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
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; Portland, Oregon;
Philadelphia, Pennsylvania; Austin, Texas; Dallas, Texas;
Northern Virginia; and Seattle, Washington.
Andrea McGhee, (408) 654-3078, firstname.lastname@example.org.