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Founding Yes guitarist Peter Banks has died.  A post on his website says he suffered heart failure at his home in London, and passed away on March 7th.  He was discovered dead after he missed a recording session. 

Banks is considered a progressive rock pioneer.  He helped form Yes in 1968, and remained with the group through their first two albums.  After leaving in 1970, Peter launched his new band Flash, which released three albums, and Empire, which also produced three discs.  Over the course of his career he also released five solo albums.  Banks was working on a live Flash album at the time of his death. 

While he never became a household name in the U.S., Banks is remembered as an innovator and a great influence. 

Yes says in a collective statement that they're "deeply saddened to learn about the passing" of their fellow bandmate and founding member.  They add that Peter "was a huge piece of the fabric that made Yes what it is," and their "thoughts, sincere condolences, and prayers are with him and his family."