SVB Financial in Santa Clara, Calif., on Friday promoted Chief Financial Officer Michael Descheneaux to the role of bank president, and announced it has recruited a BancWest executive as his successor.
Descheneaux has served as CFO at for the past decade. He joined the $45 billion-asset SVB, the parent of Silicon Valley Bank, in 2006, and was previously a managing director with Navigant Consulting in Chicago. He takes over the president title from Greg Becker, who currently serves as president and CEO of both SVB and its subsidiary bank.
In a press release, Becker said Descheneaux is “perfectly suited to lead our banking strategy and deliver on our mission to help our clients succeed.”
Daniel Beck will succeed Descheneaux as CFO. He most recently served as CFO and treasurer of the $84 billion-asset BancWest, where he was responsible for, among other tasks, managing relationships with regulators and executives at its parent company, BNP Paribas.
Beck joined the San Francisco-based BancWest in 2008 and was named CFO in 2015. He previously worked at Wells Fargo and Freddie Mac.
Both Descheneaux and Beck are scheduled to begin their new roles June 5.