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SANTA CLARA, Calif. - March 22, 2004 - Silicon
Valley Bancshares (Nasdaq: SIVB) announced it has hired Jack F.
Jenkins-Stark as Chief Financial Officer. Jenkins-Stark has
extensive experience in financial leadership and risk management
in the energy and finance industries, having spent over 25 years
in senior financial roles at Itron Corporation, GATX Capital
Corporation and PG&E Corporation. Jenkins-Stark will oversee
all aspects of Silicon Valley Bancshares' strategic and
operational financial activities, beginning April 19, 2004.
"Silicon Valley Bancshares is unique in the financial services
industry, and when we set out to fill this role, we were not
looking for a typical, career, financial services CFO. We wanted
someone with the right mix of skills and experience to help
ensure our continued stability in a still-recovering market,
while providing the leadership and sophistication necessary to
implement financial strategies to support our ambitious plans for
future growth," said Kenneth P. Wilcox, president and CEO of
Silicon Valley Bancshares. "Jack's expertise covers a wide
spectrum of experience - from large public corporations to
startups and growth companies. He has an impressive breadth of
experience, and a reputation for inspiring leadership that make
him an ideal fit for us at this time."
Jenkins-Stark was most recently vice president of business
operations and technology at Itron Corporation, an energy
technology company, where he oversaw financial management for the
company's software division, as well as the company's information
technology, strategic purchasing and business process review
departments. While at Itron, he led integration activities for a
major acquisition of a 900-person company with $280 million in
revenues. Prior to that, Jenkins-Stark was senior vice president
and chief financial officer at Silicon Energy Corp, an emerging
energy software company that was acquired by Itron. Jenkins-Stark
was a key member of the executive team during the company's
growth from less than $1 million to over $20 million in revenues,
and through the company's IPO efforts.
Before joining Silicon Energy, Jenkins-Stark served as senior
vice president and chief financial officer of GATX Capital, a
specialized finance and leasing company, where he was responsible
for finance, including financial risk management; accounting;
insurance and information systems. Prior to joining GATX,
Jenkins-Stark spent over 20 years at PG&E Corp, where he held
senior management roles overseeing financial operations and
investor relations, energy risk management, contract and
regulatory negotiations and line operations. Jenkins-Stark is
currently a member of the Board of Directors for TC Pipelines
L.P., a publicly traded, master limited partnership holding
interests in the Northern Border Pipeline and Tuscarora Pipeline
with TransCanada Pipelines Corporation as the General Partner. He
is a member of the board's audit committee. He also sits on the
Board of Directors for Hall Kinion & Associates, Inc., a
publicly traded technology staffing company, and is a member of
its audit and compensation committees.
Jenkins-Stark has a BA and an MA in Economics from the University
of California at Santa Barbara, and an MBA from the University of
California at Berkeley.
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 and private
equity 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, and private equity
services, as well as value-add services using its knowledge and
networks. Merger, acquisition, private placement 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.