Silicon Valley Bancshares of Santa Clara, Calif., said Kenneth P. Wilcox, president of its sole subsidiary, Silicon Valley Bank, has added the title of chief executive officer of the bank.
Mr. Wilcox, who joined Silicon Valley in 1990 as head of the bank's East Coast technology lending group, succeeds John Dean, who remains chairman and CEO of the company.
"As the bank continues to grow in size and complexity, I will spend more time with employees and in the marketplace with clients and investors," Mr. Dean said.
The $3.7 billion-asset Silicon Valley also announced formation of a professional services unit to attract customers. The new unit is to offer credit services, deposit accounts, and other financial products in a variety of industries.
Senior vice president Steve Empey is to head it.
- Matt Andrejczak