Exec adds passion to bank's assets


POSTED: Wednesday, March 17, 2010

John C. Dean, Central Pacific Bank's newly appointed executive chairman of the board, is hoping to update his resume soon.

It's not that Dean needs another honor; on the contrary, he is known in the industry as something of a “;rainmaker.”; Forbes called him one of the 50 most powerful dealmakers. Business Week recognized him as one of Silicon Valley's top 25 movers and shakers, and among his credits are three successful bank turnarounds. Now, he hopes to make it four with Central Pacific Bank, which has lost hundreds of millions during the economic slump and is under a federal and state order to improve its capital position.

“;I'm at the stage in my life where I like making a difference, and I think that I can add value,”; the 62-year-old Dean said. “;I wouldn't be here and committed to this bank unless I believed strongly that there was a path to profitability.”;

Currently managing general partner of Palo Alto, Calif.-based Startup Capital Ventures, Dean has spent 29 years as a financial services industry executive. Under Dean's leadership as chief executive, Silicon Valley Bank's assets grew from $935 million to $5.5 billion.

For the last decade, Dean has focused on technology startups overseas, on the mainland and in Hawaii. His ties to the islands go back to his Peace Corps days when he was sent to Molokai in 1969. The Deans also have owned a home in Waimanalo since 1997.

Dean is co-founder and chairman emeritus of the Entrepreneur's Foundation of Hawaii, which supports small-business ventures, and he endows a faculty position at the University of Hawaii's Shidler College of Business. He will get a base salary of $1 a year, with the rest of his Central Pacific compensation package to be finalized.