SANTA CLARA, CA — February 19, 2003 — Silicon Valley Bank, a wholly owned subsidiary of Silicon Valley Bancshares (SIVB), today announced that Thomas Vertin has been appointed head of Specialty Finance and Alan Spurgin has been named his successor to manage the Southeast region. The Bank's Specialty Finance group provides companies at all stages with innovative working capital solutions, including asset-based lending, accounts receivable purchase lines of credit and non-recourse receivables purchase lines. Vertin will be responsible for driving national sales of Specialty Finance services, continuing to refine Bank processes and developing service areas with high growth potential. Spurgin, of the Bank's Atlanta office, will step into the role of Southeast regional manager responsible for maintaining relationships and spurring additional growth in the region.
"Tom's successes in Atlanta and the Southeast region have laid a strong foundation, not only for his new role overseeing an area of growing importance to the Bank, but for continued momentum and growth in the Southeast under Alan's leadership," said Greg Becker, head of Commercial Banking for Silicon Valley Bank. "Both of these appointments speak to the strength of leadership and talent in our Southeast region. Tom attracted and developed a talented team and was able to effectively groom his successor, while developing innovative financing products that are increasingly strategic for us and critical to our core customer base."
In his previous role as head of the Silicon Valley Bank's Southeast Region, Vertin launched the Bank's Southeast headquarters in Atlanta, and established beachhead offices in the Research Triangle Park area of North Carolina and West Palm Beach, Fla., while overseeing the growth of those offices, as well as the Reston, Va. office. During his tenure in this role, Vertin developed and lead a regional team of world-class relationship managers that successfully grew revenues from zero to over $20 million. Vertin also lead the development of the Bank's Specialty Finance business model. Under Vertin's leadership, the Southeast region developed several initiatives for Silicon Valley Bank nationwide and was one of the first groups within the Bank to target later stage companies to expand its customer base.
"When we opened the office in Atlanta in 1997, the Southeast was an area of enormous untapped potential for Silicon Valley Bank. Through partnerships with local business leaders, and the hiring of extremely talented professionals to oversee each local office, we've been able to build meaningful and sustainable momentum in the Southeast," said Vertin. "I am confident of our continued success in the Southeast under Alan's strong leadership given his experience in the region. I look forward to the opportunity to contribute to Silicon Valley Bank's growth and development in Specialty Finance, an area with so much potential."
Vertin began his tenure at Silicon Valley Bank as Vice President of the then-named Technology Division in 1993. Before joining Silicon Valley Bank, Vertin held senior positions at Civic Bank, Pacific Western Bank and Bank of America. Prior to his banking career, Vertin served for three years with the World Health Organization in Geneva, Switzerland.
Spurgin, who has over 15 years of banking and corporate finance experience, joined Silicon Valley Bank three years ago and has been responsible for business development and client relationship management in the greater Atlanta region and contiguous states. Prior to Silicon Valley Bank, Spurgin served in a variety of banking and corporate finance capacities at First Union Securities, The Bank of Nova Scotia, First National Bank of Maryland and First Chicago Corp.
About Silicon Valley Bank
Silicon Valley Bank serves emerging growth and mature companies in the technology and life sciences markets, as well as other targeted industries. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients' success. Founded in 1983 and headquartered in Santa Clara, Calif., the Bank serves more than 9,500 clients across the country through 27 regional offices. More information on the Bank can be found at www.svb.com.