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Search resuls for: "Hannah Lang Tatiana Bautzer"


2 mentions found


☆ Ex-SVB CEO says was unaware of bank's problems when he sold stock
  + stars: | 2023-05-16 | by ( Hannah Lang Tatiana Bautzer | Hannah Lang | Tatiana Bautzer | ) www.reuters.com   time to read: +1 min
NEW YORK, May 16 (Reuters) - Silicon Valley Bank's former CEO Greg Becker told senators at a hearing that he was unaware the bank was in trouble when he sold stock in the months leading up to the regional U.S. lender's collapse. Becker, who sold SVB shares through the first quarter - the largest sale of which occurred on Feb 27, less than two weeks before the bank collapsed on March 10, triggering a rout in banking shares globally. Responding to questions from senators, Becker painted a picture of an unprecedented, unpredictable crisis at the bank. He said the bank took risk management seriously and had liquidity of around $80 billion at the end of last year. [1/2] Greg Becker, former president and CEO of SVB, speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, U.S., May 3, 2022.
☆ Ex-Silicon Valley Bank CEO defends record, regulators vow tougher supervision
  + stars: | 2023-05-16 | by ( Hannah Lang Tatiana Bautzer Pete Schroeder Ann Saphir | Hannah Lang | Tatiana Bautzer | ) www.reuters.com   time to read: +5 min
"I believe it was a series of unprecedented events that all came together in the fastest bank run in history," Becker told the Senate Banking Committee. "I was the CEO of Silicon Valley Bank, I take responsibility for what ultimately happened," Becker said. Executives from Signature Bank also testified alongside Becker on Tuesday, pushing back on assertions from lawmakers that the bank had weak corporate governance. "I don't believe that there was mismanagement at the bank," said Eric Howell, the former president of Signature Bank. The bank tried to cover the loss by raising capital, but in announcing the transaction helped fuel a bank run.
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