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SVB’s CEO and CFO Resign After Collapse of Silicon Valley Bank

SVB Financial Group, the bankrupt former owner of Silicon Valley Bank, said its chief executive officer and chief financial officer have resigned, more than a month after the lender collapsed into receivership.

CEO Gregory Becker and CFO Daniel Beck stepped down this week, the Santa Clara, California-based company said Friday in a filing. Becker will act as a consultant “on an as-needed basis at no cost to the company,” SVB said.

The firm is exploring strategic alternatives for its remaining businesses, SVB Capital and SVB Securities. Its Silicon Valley Bank was sold by regulators last month to First Citizens BancShares Inc.

SVB Silicon Valley Bank
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