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Posted on Apr 22, 2023Read on Mirror.xyz

Silicon Valley Bank CEO and CFO resign this week

Silicon Valley Bank Financial Group said its chief executive Gregory Becker and chief financial officer Daniel Beck resigned this week. Becker will act as an advisor to the company "as needed" at no charge. In addition, the group is exploring strategic options for its subsidiaries SVB Capital and SVB Securities. Silicon Valley Bank was sold to First Citizens BancShares Inc. by regulators last month. Becker joined Silicon Valley Bank in 1993 and was named CEO in 2011. Beck was appointed chief financial officer in 2017 and will be replaced by Nicholas Grossi on an interim basis.