Silicon Valley Bancshares, San Jose, Calif., has elected Daniel J. Kelleher as chairman of the board of the holding company and its subsidiary, Silicon Valley Bank.
Mr. Kelleher, a private investor from Los Altos, Calif., succeeds Clarence J. Ferrari Jr., who is stepping down. He had been chairman since 1989. Mr. Ferrari will remain an active member of both boards.
Also, Michael Roster has been elected to succeed Mr. Kelleher as vice chairman of the bank holding company and of the bank.
Subject to regulatory and shareholder approval, both elections will become effective after the company's annual shareholders' meeting on May 23.
Mr. Roster is general counsel of Stanford University and Mr. Ferrari is a principal of Ferrari, Alvarez, Olsen and Ottoboni, attorneys- at-law, based in San Jose.