Silicon Valley Bank’s $2.25 billion capital raise led to a $42 billion withdrawal by customers, exposing severe liquidity issues. Despite repeated risk committee meetings, SVB operated without a chief risk officer for much of 2022. The board faces scrutiny regarding insider stock sales and whether they managed risk effectively amid rising interest rates.
Silicon Valley Bank Proxy Shows Board’s Secret Yearlong Risk Panic
Silicon Valley Bank’s $2.25 billion capital raise led to a $42 billion withdrawal by customers, exposing severe liquidity issues. Despite repeated risk committee meetings, SVB operated without a chief risk officer for much of 2022. The board faces scrutiny regarding insider stock sales and whether they managed risk effectively amid rising interest rates.