VIENNA, Va., April 24, 2006 - Silicon Valley Bank, the nationwide leader in financial services for technology, life science and private equity firms, appointed Sean Stone to lead the firm's Washington D.C.-area presence based in Vienna, Va. Prior to this new role at Silicon Valley Bank, Stone was instrumental in growing the company's asset management business from $200 million to $4 billion in under two years. Now a senior relationship manager in the Eastern Division of Silicon Valley Bank, Stone is responsible for developing relationships with clients and actively participating in the local venture capital and technology communities.
Silicon Valley Bank offers commercial banking services to technology, life science and private equity companies of all sizes, including customized loans and global cash management. As a member of SVB Financial Group (Nasdaq: SIVB), Silicon Valley Bank's clients benefit from the Group's in-house investment banking, global consulting and private equity services as well.
"Silicon Valley Bank has been an active part of the venture capital and technology market in the D.C. area for more than ten years and Sean is bringing renewed enthusiasm and commitment to the market," said Joan Parsons, Eastern Division Manager, Silicon Valley Bank. "Being successful in our business means managing risk and you can't do that without a lot of experience and talent -- and Sean has both. With long-standing business relationships in the Southeast and financial services expertise in several areas, Sean is an outstanding partner for our clients in the region."
Silicon Valley Bank was formed in 1983 to provide credit and banking services to a growing population of startup technology and life science companies at a time when they were not well understood by the financial services industry. More than 20 years later, Silicon Valley Bank has expanded to incorporate a diverse range of financial services under the SVB Financial Group umbrella while its mission remains constant: to help entrepreneurs succeed. Working with technology and life science companies of all sizes, SVB Financial Group offers the diverse financial services necessary to help companies large and small succeed at every stage of their business cycle. In addition to its 11,000 clients worldwide, SVB has banking relationships with over 500 U.S. venture capital and private equity firms.
Leading the Washington D.C. area office for Silicon Valley Bank, Senior Relationship Manager Sean Stone brings more than 15 years of experience working with traditional and online financial services companies to the local market. Stone joined SVB Financial Group as part of SVB Asset Management from Capital Advisors Group, a registered investment advisor, where he served as vice president of business development for the Southeast and Southwest regions. Prior to Capital Advisors Group, Stone was the vice president of business development for Financial Passport, Inc., an online financial services firm that was acquired by Ameritrade in 2000.
Stone earned an MBA from Georgetown University, a Graduate Certificate from Oxford University, and a bachelor's degree in economics from the College of William and Mary. He currently holds NASD securities licenses 7, 65, and 66 and has completed an executive education program at the University of Pennsylvania's Wharton School on Investment Management.
About Silicon Valley Bank
Silicon Valley Bank provides diversified financial services to emerging growth and mature companies in the technology, life science, private equity and premium wine 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 company serves clients around the world through 27 U.S. offices and three international operations. Silicon Valley Bank's parent company is SVB Financial Group (Nasdaq: SIVB). More information on the company can be found at www.svb.com.