SANTA CLARA, CALIF., October 18, 2004 - Silicon Valley Bancshares (Nasdaq: SIVB), the parent company of Silicon Valley Bank, announced today the appointment of Lynda Ward Pierce as head of human resources and a member of the corporate steering committee. Pierce joins the company, effective immediately, and is responsible for leading the existing HR team and managing and developing programs to further support Silicon Valley Bank's ability to effectively provide diversified financial services on a global scale.
"Silicon Valley Bank's model is successful due to the highly-enterprising, well-connected, service-oriented employees we hire and develop. Our human resources group must therefore be led by someone with those same characteristics, and we found that leader in Lynda," said Ken Wilcox, president and CEO of Silicon Valley Bancshares and Silicon Valley Bank. "Lynda's experience with service companies will be a welcome complement to our financial and technology industry experts on the corporate management team. We look forward to her many contributions."
With 15 years of experience leading human resources functions for retail and service-oriented firms, Pierce will cultivate Silicon Valley Bank's HR programs that help to position the company as the premier provider of innovative financial services to enterprising companies worldwide. These programs will include professional development, compensation and international recruiting, to name a few. Prior to joining SVB, Pierce served as vice president of human resources at Organic, Inc. in San Francisco, where she was instrumental in the development of all HR functions from the company's earliest days as a start up. She helped the company grow from 350 to 2,500 employees in ten offices in five countries. Pierce also served as human resources director for Navigant Consulting, Inc. in Chicago and its local subsidiary LECG, Inc. in Emeryville, California and Mervyn's Department Stores in Hayward, California.
Pierce earned a bachelor's degree in managerial economics from the University of California, Davis, where she also attended the Graduate School of Management. She also holds a master's degree in human resources and organizational development from the University of San Francisco.
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, life science, private equity and premium wine industries through 26 offices in the U.S. and two subsidiaries in the U.K. and India. Headquartered in Santa Clara, Calif., the company offers its clients commercial, investment and private banking, funds management and private equity services, as well as the added value of its knowledge and networks. Merger, acquisition, private placement and corporate partnering services are provided through the company's investment banking subsidiary, SVB Alliant. More information on the company can be found at www.svb.com.