SVB Financial Group (the “Company”) is engaging Alvarez & Marsal (“A&M”), a business advisory firm, to serve as restructuring counsel as the Company explores strategic alternatives for the Company and its SVB Capital and SVB Securities businesses. As part of this engagement, A&M will provide the services of a Chief Restructuring Officer for the Company. On March 13, 2023, the restructuring committee of the Company's board of directors appointed William Kosturos of A&M as the Company's Chief Restructuring Officer.

Mr. Kosturos is a Managing Director with A&M's North American Commercial Restructuring practice in San Francisco. He is Vice-Chair of the U.S. Restructuring Practice and a member of A&M's Executive Committee for U.S. Restructuring, and has more than 30 years of operational experience as an interim manager and financial adviser to both debtors and creditors in and out of Chapter 11 proceedings. Previously, Mr. Kosturos was the Chief Restructuring Officer for Washington Mutual.

Other notable advisory or management roles include Cengage Learning Inc., Movie Gallery, The Spiegel Group (which owned Eddie Bauer), Pacific Gas & Electric Company, Tri-Valley Growers, Levi Strauss, Webvan Group, Sunshine Biscuits, Clothestime, Hexcel Corp., and Spreckels Industries.