Silicon Valley Bank headquarters in Santa Clara, California. Photo: Philip Pacheco/Bloomberg As SVB's Risks Skyrocketed, Bank Let Chief Risk Officer Post Sit Vacant for Months
"It's like having an airplane without a pilot or a ship without a captain. It will move, but to what direction?" said Charles Elson, a retired professor of corporate governance at the University of Delaware.
March 14, 2023 at 08:14 AM
6 minute read
The abrupt collapse of venture capital darling Silicon Valley Bank has exposed several glaring governance and risk management lapses, including that it parted ways with its chief risk officer in April 2022 and appears to have operated without a full-time replacement for nearly the remainder of the year.
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