SANTA CLARA, CALIF. — October 16, 2003 — Silicon Valley Bancshares (Nasdaq: SIVB), parent company of Silicon Valley Bank, today announced that Larry W. Sonsini and Peter Goodson have joined its Board of Directors. Sonsini is Chairman and Chief Executive Officer of Wilson Sonsini Goodrich & Rosati, the leading law firm in the U.S. representing technology companies, investment banks and venture capital firms. Sonsini's role with Silicon Valley Bancshares will be effective on November 8, 2003. Goodson is a retired partner with the private equity firm of Clayton, Dubilier & Rice and former head of Investment Banking as well as founder of the M&A practice at Kidder, Peabody & Company. Goodson also is an adjunct professor of Finance at UC Berkeley's Haas Business School, having also taught at Columbia University and New York University.
"Larry and Peter represent a truly impressive accumulation of knowledge, experience and achievement, and will be a tremendous asset to the board," said Ken Wilcox, president and CEO of Silicon Valley Bancshares and Silicon Valley Bank. "The insight they will bring to our corporate governance — through their experience as entrepreneurs, executives and respected corporate directors — will allow Silicon Valley Bancshares to chart a course for success in the next 20 years."
The top executive at the most influential law firm serving the technology industry, Larry Sonsini has been one of the most prominent figures in Silicon Valley for over 35 years. Known for his integrity and ability to bring people together over difficult issues, Sonsini was involved in Apple Computer's IPO, the merger of Hewlett-Packard and Compaq, and AOL's purchase of Netscape. He has been described as "the most respected person, of any profession, in Silicon Valley."
Sonsini became a director of the New York Stock Exchange in 2001, serving as a member of the Corporate Accountability and Listing Standards Committee, the NYSE/NASD IPO Advisory Committee and the Special Committee on Corporate Governance. He has served on a number of advisory boards and committees for the Securities and Exchange Commission, the NYSE and NASD. He is a former Trustee of UC Berkeley and currently a Trustee of Santa Clara University. He is currently a director for Brocade Communications Systems, Inc.; Echelon Corporation; Lattice Semiconductor Corporation; LSI Logic Corporation and Pixar, Inc.
Sonsini earned his A.B. from the University of California at Berkeley and his J.D. from Berkeley's Boalt Hall School of Law. He has been a member of the faculty at Boalt Hall since 1985.
Peter Goodson has advised corporate leaders on a range of complex strategic, financial and business performance issues for the past four decades. He is currently an adjunct professor, having taught full courses in Mergers & Acquisitions, Managerial Negotiation and Private Equity at Columbia and New York University business schools.
Goodson was one of five partners at the firm of Clayton, Dubilier & Rice, a private equity firm that purchased and managed large industrial companies. While Clayton, Dubilier & Rice, Goodson served on the Board of Directors of New York Bancorp, which was subsequently sold to North Fork Bancorp. Prior to that, Goodson was a Managing Director at Kidder, Peabody & Company, where he founded the Mergers and Acquisitions Group at the age of 27. Under his direction, the M&A group enjoyed two decades of rapid growth, completing transactions of approximately $30 billion in value. Goodson was involved in the $6.2 billion acquisition of Beatrice Companies by Kohlberg, Kravis & Roberts, the $1.2 billion acquisition of Richardson-Vicks by Proctor & Gamble, and the successful restructuring of GenCorp in response to a hostile offer. Goodson also served as co-head of Kidder's Investment Banking department and spearheaded the firm's successful entrance into Merchant Banking and Crisis Management. Goodson was chosen by his partners to negotiate the $600 million sale of Kidder to General Electric, which he did, setting a then record for the highest relative price paid for an investment bank.
Goodson is a former director of Montgomery Ward & Co., Broadgate Consultants, Dial Industries, Stanford University's Athletic Board, Columbia University's Community Impact Foundation and the Goodson Family Foundation. Goodson is a graduate of Stanford University and has completed the Harvard Business School program for Financial Executives.
About Silicon Valley Bancshares
For 20 years, Silicon Valley Bancshares, a financial holding company offering diversified financial services, has provided innovative solutions to help entrepreneurs succeed. The company's principal subsidiary, Silicon Valley Bank, serves emerging growth and mature companies in the technology and life sciences markets, as well as the premium wine industry. Headquartered in Santa Clara, Calif., the company offers its clients financial products and services including commercial, investment, merchant and private banking, as well as value-added services using its knowledge and networks. Merger, acquisition and corporate partnering services are provided through the company's investment banking subsidiary, Alliant Partners. More information on the company can be found at www.svb.com.