SVB Financial Group CEO Elected to the Board of Directors of the Federal Reserve Bank of San Francisco
22 Diciembre 2005 - 10:59AM
PR Newswire (US)
SANTA CLARA, Calif., Dec. 22 /PRNewswire-FirstCall/ -- Kenneth P.
Wilcox, president and CEO of SVB Financial Group (NASDAQ:SIVBE) and
Silicon Valley Bank, was elected to the board of directors of the
Federal Reserve Bank of San Francisco beginning January 1, 2006.
Wilcox was elected by the largest member banks of the Twelfth
Federal Reserve District, which includes the nine western states of
Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah
and Washington, plus American Samoa, Guam, and the Commonwealth of
the Northern Mariana Islands. In his role as a director, Wilcox
will provide the Federal Reserve System with economic information
on the financial services industry and on the Twelfth District's
economy. This information will be used by the Federal Open Market
Committee and Board of Governors in reaching decisions about
monetary policy. Wilcox will also recommend changes in the Reserve
Bank's discount rate and, along with other directors, serve as a
link between the government and the private sector. "I am honored
to have been elected to the board of directors of the Federal
Reserve Bank of San Francisco and look forward to serving my fellow
member banks in the twelfth district," said Wilcox. "In particular,
as a director, I will offer my experience and insight to the
Federal Reserve Bank regarding staying relevant and competitive in
a rapidly evolving and increasingly global capital markets system."
About SVB Financial Group For more than 20 years, SVB Financial
Group, formerly Silicon Valley Bancshares, has been dedicated to
helping entrepreneurs succeed. SVB Financial Group, the parent
company of Silicon Valley Bank, is a financial holding company that
serves emerging growth and mature companies in the technology, life
science, private equity and premium wine industries. Headquartered
in Santa Clara, Calif., SVB Financial Group provides clients with
commercial, investment, international and private banking services.
The company also offers funds management, broker-dealer
transactions, asset management and a full range of services for
private equity companies, as well as the added value of its
knowledge and networks worldwide. More information on the company
can be found at http://www.svb.com/. DATASOURCE: SVB Financial
Group CONTACT: Carrie Merritt, +1-408-654-7193, or , or Meghan
O'Leary, +1-408-654-6364, or , both of SVB Financial Group Web
site: http://www.svb.com/
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