SANTA CLARA, Calif., October 21, 2004 - Silicon Valley Bancshares (Nasdaq: SIVB), the diversified financial services holding company of Silicon Valley Bank, announced three additions to its board of directors today. David M. Clapper, Roger Dunbar and Joel P. Friedman were elected to the Silicon Valley Bancshares board effective October 20, 2004. The new directors' extensive experience with developing and leading global businesses will support Silicon Valley Bank as it expands globally and deepens its efforts within the technology, life science and private equity sectors.
"Silicon Valley Bancshares is executing its growth and
development strategies extremely well. In order to bolster our
senior leadership in the areas of globalization, technology and
private equity, we sought out additional experts in those areas,"
said Alex W. "Pete" Hart, chairman of the board of Silicon Valley
Bancshares and Silicon Valley Bank. "These accomplished directors
have a wealth of experience that is not only applicable to
Silicon Valley Bank's strategy, but relevant to the concerns of
our 10,000 clients worldwide."
David M. Clapper brings significant experience in the life
sciences arena having spent the majority of his career in various
positions at Johnson & Johnson and most recently serving as
president, CEO and board member of Novacept, Inc.
Roger Dunbar, an advisory member of the Silicon Valley Bancshares
and Silicon Valley Bank board of directors since 2001, has been
serving technology companies since the early-1970s when he joined
the Silicon Valley practice of Ernst & Young where he
practiced until his promotion to global vice chairman in 2000. He
recently retired from his position as global vice chairman of
Joel P. Friedman's experience with global technology companies
and venture capital firms stems from a variety of roles he has
filled at Accenture, a global management consulting, technology
services and outsourcing company. Friedman is currently the
president of Accenture's Business Process Outsourcing
organization as well as a member of its board of directors and a
member of the Dean's Advisory Council for the Stanford Graduate
School of Business.
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.