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SVB Financial Group to appoint CFO as president of unit

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SVB Financial Group to appoint CFO as president of unit

Santa Clara, Calif.-based SVB Financial Group plans to appoint its CFO Michael Descheneaux as president of unit Silicon Valley Bank.

Descheneaux's appointment will become effective once a replacement for the CFO post is found. Greg Becker will also remain president of the bank until such time.

In addition, current Head of Specialty Banking Joan Parsons will be appointed to the non-executive position of credit risk manager for the company's global banking activities, effective Feb. 6.