Square 1 Bank Announces Frank Tower as Division President
10 März 2016 - 3:00PM
Square 1 Bank, a division of Pacific Western Bank, announced today
that Frank Tower has been appointed as division president.
In his new role, Tower leads the national venture banking
practice and will focus on deepening existing relationships and
growing the Square 1 client base across the country. A career
venture financier, Tower brings nearly 25 years of experience in
lending to growth-stage technology and life sciences companies to
his new position. He joined Square 1 in January 2014 as executive
vice president, and managed the technology and life sciences
practices along the East Coast and throughout the Midwest,
including offices in Boston, New York, DC, Durham, Chicago and
Denver.
“Throughout his career in the venture banking space, Frank has
proven to be a successful and trusted leader with a passion for
entrepreneurs and strong reputation for inspiring teams,” said Matt
Wagner, chief executive officer and president of Pacific Western
Bank. “His extensive industry experience and deep expertise in
venture banking will be a valuable asset as the Square 1 division
continues to accelerate on its growth plans. I could not be more
pleased about his appointment to this critical role.”
Tower was a founding general partner of Gold Hill Capital, an
independent venture debt firm, where he helped raise two funds that
invested over $900 million into more than 200 venture-backed
technology companies. As a senior member of Gold Hill’s investment
and operating committees, Tower was involved in all aspects of fund
deployment, portfolio management and strategic direction. Prior to
founding Gold Hill, Tower spent over ten years in roles of
increasing responsibility at Silicon Valley Bank, including senior
vice president and senior risk officer in Boston.
“Square 1 has a rich history within the entrepreneurial
community, and I am proud to lead such a talented group of people,”
said Tower. “I look forward to continuing to support our clients,
and staying true to our mission of being the best banking partner
for entrepreneurs and their investors. Our primary job remains
developing seamless banking solutions so our clients can focus on
growing their businesses. We have a great team and I’m excited for
the next chapter in our evolution.”
Doug Bowers, who as president and chief executive officer led
Square 1 through its initial public offering and acquisition, will
remain with the organization through March 31 to support the
transition. Tower added, “Over the past five years, Doug has been a
terrific partner and mentor to all of us at Square 1. He led the
company during a time of outstanding growth and career-making
milestones. We are thankful for his leadership, and all wish him
the best in his future endeavors.”
About Square 1 BankSquare 1 Bank is a division
of Pacific Western Bank, a Los Angeles-based commercial bank with
over $21 billion in assets. A full service financial services
partner to entrepreneurs and their investors, Square 1 provides
clients flexible resources and attentive service to help their
companies grow. Square 1 offers a broad range of venture debt,
treasury and cash management solutions through offices in top
innovation centers: Austin, the Bay Area, Boston, Chicago, Denver,
Durham, Los Angeles, Minneapolis, New York, San Diego, Seattle and
Washington, DC. Pacific Western Bank is a wholly-owned subsidiary
of PacWest Bancorp (NASDAQ:PACW). For more information, visit
www.square1bank.com.
Media Contact:
Square 1 Bank
Dee McDougal
919.597.7479
dmcdougal@square1bank.com
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