Shares of SVB Financial Group ( SIVB) of Sana Clara, Calif., closed at $56.65 Thursday, returning 19% year-to-date, following a 10% decline during 2011.
Chip Flannagan has run the Chicago wealth management office since 2007.
BlackRock is one of Wells Fargo's largest institutional investors.
The Wells Fargo fake account scandal continues to develop with new lawsuit.
Managers encouraged hispanic employees to round up illegal immigrants in order to convince them to open accounts.