Neither Hardymon nor Wilcox worked at SVB during its collapse, and they don’t claim to have inside knowledge of the reasoning behind management’s decisions near the time of its downfall. But they both believe SVB’s underlying business model was sound and that its leadership chased yield...
Alsoon April 28, the Federal Deposit Insurance Corporation released its own assessment of Signature Bank’s failure and found poor management was primarily to blame for its collapse. It specifically called out management’s pursuit of rapid growth while neglecting to practice appropriate risk management...
The abrupt failure of Silicon Valley Bank (SVB) and the renewed pressure on Credit Suisse are the latest in a series of global shocks affecting the capital markets.
"It just doesn’t make sense from a risk management perspective." SVB was forced to sell the bonds in its portfolio of investments at a $1.8 billion loss. The California bank's failure, which is the second-largest of a bank in U.S. history, has shaken many investors. It was the ...
Another key lesson from SVB’s collapse is communication – for many, the first rule in any crisis. “Communicate with your CEO and your board if you are dealing with something existential,” advises Russ Porter, CFO and Senior Vice President for Institute of Management Accountants (IMA) sa...
Lehman was hours away from declaring bankruptcy. And its collapse the next day triggered the worst economic and financial devastation since the Great Depression. The S&P 500 fell by roughly 50%. Unemployment soared. And more than 100 other banks failed over the subsequent 12 months. It was a ...
The fallout from the SVB collapse and the other banking failures has hardly begun. Companies looking to stay vigilant against attackers online should consider deploying some new security tactics on top of their standard posture, but it’s the basics that will likely prevent the worst outcomes. ...
27, just days before the bank disclosed a large loss that triggered its stock slide and collapse. The sale capped two years of stock sales by Becker that totaled $29.5 million, according to data from Smart Insider. He sold at prices ranging from $287 a share to $598 a share. ...
House Financial Services Chair Patrick McHenry (seen here in January) described SVB's collapse as driven by "the first Twitter-fueled bank run." Tom Williams/CQ-Roll Call, Inc./Getty Images “What made the Silicon Valley Bank run unique was (1) the ease with which its customers could exec...
I’m not sure how big a role that actually had to play in this collapse. I think you have to be very cautious because it’s a political talking point. One of the most important things at a time like this is to have someone to blame and preferably for that person to be in the opp...