SANTA CLARA, Calif. — April 27, 2012 — SVB Financial Group (SVB), the parent company of Silicon Valley Bank and financial partner to the innovation sector worldwide, announced that Roger Dunbar, former Global Vice Chairman of Ernst & Young, LLP and longstanding SVB Financial Group board member, has been elected Chairman of SVB Financial Group's board of directors, effective April 26, 2012. Prior Chairman Alex "Pete" Hart stepped down after serving on SVB's board of directors for 11 years.
"As we welcome Roger to this new position, we can't thank Pete enough for his leadership of our board and passion for SVB's mission over the last decade," said Greg Becker, president and CEO of SVB Financial Group and Silicon Valley Bank. "We have a phenomenal board supporting our global growth pursuits, and encouraging us to meet our own ambitious goals.
"Roger's long-term dedication serving on our board, deep understanding of our innovative clients and their investors, and his belief in our mission to help our clients succeed globally, will help us transition into our next phase of growth smoothly."
Roger is the former Vice Chairman of Ernst & Young's Strategic Growth Markets and Venture Capital practice, where he worked with public and private technology companies and venture capital firms globally.
Roger joined SVB's board of directors in 2004, and was an advisory board member since 2000.
About SVB Financial Group
For nearly three decades, SVB Financial Group has been dedicated to helping entrepreneurs succeed. A financial holding company serving companies in the technology, life science, venture capital, private equity and premium wine industries, SVB Financial Group (Nasdaq: SIVB) operates through 27 U.S. offices and seven international operations. www.svb.com.
Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB Financial Group is also a member of the Federal Reserve System.