Kay Matthews Becomes Chair of SVB Board of Directors
SVB Financial Group has announced that Kay Matthews is the new chair of its board of directors following the annual stockholder meeting on April 21, 2022. Matthews, who joined the board in 2019, brings over 36 years of experience from Ernst & Young, where she held leadership roles. Her appointment comes at a time of substantial growth for SVB, with management emphasizing her valuable insights into the innovation economy. Matthews succeeds Roger Dunbar, who retired after a decade in the position, highlighting a transition aimed at strengthening leadership in SVB's core business areas.
- Kay Matthews' extensive experience in finance and innovation is expected to enhance strategic decision-making.
- SVB is poised for continued growth and innovation under Matthews' leadership.
- The leadership transition raises concerns about continuity and possible experience gaps in the board.
SANTA CLARA, Calif., April 22, 2022 /PRNewswire/ -- SVB Financial Group (SVB), the financial partner of the innovation economy and parent of Silicon Valley Bank, today announced Kay Matthews became chair of the board of directors following the company's annual stockholder meeting on April 21, 2022. Matthews joined SVB's board in 2019, after retiring from her successful 36-year career at Ernst & Young where she held several leadership roles for the global organization.
"Over the last three years, a period of dramatic growth and expansion for SVB, Kay's insight, experience and leadership have been invaluable," said Greg Becker, president and CEO of SVB. "SVB will benefit from her continued contributions, and her deep understanding of the innovation economy clients we serve."
"SVB continues to grow and innovate in all four core areas of the business, further solidifying its position as an essential partner to innovation sector clients," said Matthews. "It's an exciting moment in SVB's history and a great opportunity to continue to share my tech and finance experience with board colleagues and SVB leaders, and together launch the next chapter."
Matthews brings extensive experience working with technology, venture capital and private equity firms, with a focus on finance, accounting and auditing. During her Ernst & Young career, she served clients ranging from early-stage venture-backed companies to Fortune 500 companies across industries including software, semiconductor, defense, transportation, consumer products and healthcare. In her advisory and leadership roles, she served as a strategic resource for client management, developed and led strategies to transform business models in a regulated industry, developed expertise on the impact of disruptive business models and led strategies around enterprise risk and innovation of services to leverage new and innovative technologies.
In addition to her role with SVB, Matthews also serves on the boards of Coherent, Inc. and Main Street Capital Corp. She is a member of the Advisory Board of the Texas Tech Rawls School of Business and was named 2020 Distinguished Alumni of the Rawls School of Business. She earned a bachelor's degree in accounting from Texas Tech University.
Matthews succeeds former board chair Roger Dunbar, who retired from his role this year after a decade in the position.
About SVB
SVB is the financial partner of the innovation economy, helping individuals, investors and the world's most innovative companies achieve their ambitious goals. SVB's businesses - Silicon Valley Bank, SVB Capital, SVB Private and SVB Securities - together offer the services that dynamic and fast-growing clients require as they grow, including commercial banking, venture investing, wealth planning and investment banking. Headquartered in Santa Clara, California, SVB operates in centers of innovation around the world. Learn more at svb.com/global.
SVB Financial Group (SVB) (Nasdaq: SIVB) is the holding company for all business units and groups. © 2022 SVB Financial Group. All rights reserved. SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, SVB SECURITIES, SVB PRIVATE, SVB CAPITAL and the chevron device are trademarks of SVB Financial Group, used under license. Silicon Valley Bank is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group.
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SOURCE Silicon Valley Bank
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