Santa Clara, CA -- June 14, 2001 -- Silicon Valley Bank (the "Bank"), a wholly owned subsidiary of Silicon Valley Bancshares, announced the establishment of the Private Client Services Group, naming highly accomplished Bay Area private banking executive James C. Wall as group manager. The Group's establishment is an expansion of the Bank's existing efforts in the private banking market, a practice that has been complimentary to its primary commercial banking business.
Wall will be responsible for soliciting, developing, generating and managing full-service relationships with high-income and high-net worth clients. As Private Client Services Group manager, Wall will report to Vice Chairman Harry Kellogg.
"Silicon Valley Bank has done an excellent job of creating a network of clients, professional service providers and investors who provide the infrastructure for successful business ventures," said Wall. "We will use that same network and our strong brand as the springboard for providing value-added services to help individuals continue their successful wealth building."
The Bank's existing Private Banking Division, currently offering specialized lending, mortgage placement and deposit services, has been under the direction of Jean Blomberg since its formation in 1993. Blomberg will remain division manager of Private Banking under the direction of Wall.
"We will also now encourage individuals to do business with us even if they don't currently have a corporate affiliation." Wall continued, "That is an important change in our strategy."
The Group will eventually expand the Bank's private banking capabilities into asset management, trust and estate services and financial advisory services. Those solutions will either be provided through strategic alliances or targeted acquisitions.
"We already have a successful operation on the banking services side of private banking, with experienced and knowledgeable people focused primarily on providing customized credit solutions," said Kellogg. "Jim's knowledge of the Northern California private client market and more than 30 years of experience will ensure we will successfully expand into additional services in order to become the 'trusted advisor' to our clients."
Most recently, Wall served as president and chief executive officer of Boston Private Bank and Trust Company of California. With Boston Private, he was responsible for developing a full-service commercial bank, serving primarily the wealth market in Silicon Valley. Previously, Wall was president and CEO of the Bank of Los Altos from 1995 to 2000, where he managed a four-fold increase in assets and significant profitability growth.
Wall has built his extensive private banking experience through various positions, including vice president and manager of Private Banking for the headquarters office of Wells Fargo Bank; vice president and manager of Private Banking for the flagship office of Seafirst Bank in Seattle; and as co- founder, president and chief operating officer of Palo Alto, California- based University National Bank & Trust Company, which specialized in private banking.
Wall earned his bachelor's degree from Stanford University and a master's degree from California State University, San Diego.
Silicon Valley Bank serves emerging growth and middle market companies in targeted niches, focusing on technology and life sciences, while also addressing other specific industries in which it can provide a higher level of service and better manage credit through specialization and focus.
The Bank operates throughout the Silicon Valley: Santa Clara, Palo Alto and Sand Hill, the center of the venture capital community in California. Other regional offices within California include: Irvine, Los Angeles, Napa Valley, San Diego, San Francisco, Santa Barbara, and Sonoma. Office locations outside of California include: Phoenix, Arizona; Boulder, Colorado; West Palm Beach, Florida; Atlanta, Georgia; Chicago, Illinois; Boston, Massachusetts; Minneapolis, Minnesota; Durham, North Carolina; Portland, Oregon; Philadelphia, Pennsylvania; Austin, Texas; Dallas, Texas; Northern Virginia; and Seattle, Washington.
SVB Contact: Andrea McGhee, (408) 654-3078, firstname.lastname@example.org.