Daily News: August 16, 2013

Anderson to Lead Pacific Mercantile’s ABL Group

Pacific Mercantile Bancorp announced Robert Anderson joined Pacific Mercantile Bank as executive vice president, head of Asset Based Lending. Anderson will be leading the bank’s effort to grow its asset-based loan (ABL) portfolio across Southern California. He will be specifically focusing on working capital lines of credit and term loans to finance our clients’ growth.

“We are privileged to have Anderson join the executive management team of the bank and look forward to his building our ABL department, a niche we have looked forward to growing at PMB, and to continue to enhance our commercial banking services,” stated Steven K. Buster, president and CEO.

Anderson most recently led Silicon Valley Bank’s Orange County office, where he was responsible for its technology, life science and clean tech practice. He specialized in venture debt, ABL lines of credit, term loans and leveraged buy-outs.

Over his 17 years of service he helped finance a majority of the venture-capital backed technology and life science companies in Orange County. The higher profile companies he banked at the time of their acquisition include: Gaikai, DATAllegro, Networks In Motion, LenSx Lasers, Cameron Health and ISTA Pharmaceuticals.

Tom Vertin, president of Commercial Banking, said, “I am delighted to be working with Mr. Anderson again; I found him to be a great motivator, an incisive thinker and a consistent producer of quality business. He will be a great asset to PMB and will round out our growing team of commercial lenders.”