Is Woodside a wholly owned subsidiary of Silicon Valley Bancshares?
Mr. Beim: Woodside is a wholly owned subsidiary of Silicon Valley Bank, which in turn is a wholly owned subsidiary of Silicon Valley Bancshares, a holding company. My partner, Morgan White, actually founded Woodside Asset Management in 1987. Chip Dostal joined Morgan in late 1988, and I joined the two of them in the spring of 1989. The three of us owned the company equally and built it up over the ensuing 10 years. Together, just working with high-net-worth individuals who met or exceeded our 2 million minimum, we grew Woodside to the level of approximately 300 million in assets under management. Then, in the fall of 2000, Chip Dostal died fairly suddenly after a short battle with cancer. Morgan and I were left running the company, and just as suddenly the whole notion of succession took on a new meaning. I was 57 at that time and Morgan was 55. We had many late night discussions about different strategies of keeping the company going. I remember saying shortly after Chip died that not
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