December 4, 2023

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SVB’s CEO and CFO resign after collapse of Silicon Valley Financial institution

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The agency is exploring strategic options for its remaining companies, SVB Capital and SVB Securities. Its Silicon Valley Financial institution was offered by regulators final month to First Residents BancShares.

Becker joined SVB in 1993 and rose by way of the ranks, attaining the CEO title in 2011. SVB didn’t announce a brand new chief. Beck, who was named CFO in 2017, will probably be succeeded by Nicholas Grossi on an interim foundation, the submitting exhibits.

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