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New Jersey transplant hopes to restore sheen at troubled Silvergate Bank: turnaround specialist to refocus strategy on retail operations.

Publication: San Diego Business Journal
Publication Date: 26-FEB-07
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Silvergate Bank brought in New Jersey-transplant and turnaround expert Tony Ferraro as acting chief executive officer after receiving a cease-and-desist letter from regulators in December.

The letter told the bank to "retain qualified management" within 60 days of notice.

Ferraro said he is awaiting an OK from regulators before taking the reins from current bank CEO Dennis Frank. He said he's not sure when they will respond.

In the meantime, Ferraro said he plans to pick up...

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