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Olds was with JP Morgan The Morgan Bank from 1973 through 1998, in New York, Singapore, Tokyo and Brussels. His last position with the firm was managing director and a member of its management committee.
His appointment to the Pacific Capital board will become effective on January 1, 2009. Olds replaces Gerald T. McCullough, who retired from Pacific Capital Bancorp's board in April upon reaching the mandatory retirement age of 72.
Santa Barbara, California-based Pacific Capital Bancorp is the parent of Pacific Capital Bank, which operates fifty retail branches under the brand names of Santa Barbara Bank & Trust, First National Bank of Central California, South Valley National Bank, San Benito Bank and First Bank of San Luis Obispo.
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