New York CNN —Azher Abbasi, head of supervision at the Federal Reserve Bank of San Francisco — and a key official with direct oversight over failed Silicon Valley Bank — will retire at the end of October, the regional reserve bank announced this week.
Abbasi and Mary Daly, president of the San Francisco Fed, came under scrutiny after a post-mortem report undertaken by the Federal Reserve found problems with how SVB was supervised.
The San Francisco Fed declined to share additional details with CNN about Abbasi’s departure.
Outside of the report, there have been concerns about potential conflicts of interest regarding Greg Becker, the former CEO of SVB, serving as a director on the San Francisco Fed board, potentially having a say over how SVB was supervised.
Willardson previously worked at the Minneapolis Fed in a variety of positions from 1990 to 2022, including as senior vice president for supervision, regulation and credit for eight years.
Persons:
New York CNN — Azher Abbasi, Federal Reserve Bank of San Francisco —, Abbasi, Mary Daly, SVB, San Francisco Fed, Greg Becker, Niel Willardson, Willardson
Organizations:
New, New York CNN, Federal Reserve Bank of San, San Francisco, Federal Reserve, Fed, CNN, San Francisco Fed, Minneapolis Fed, Deposit Insurance Corporation
Locations:
New York, Federal Reserve Bank of San Francisco, San Francisco Fed, midsized