Silicon Valley Bank, $SIVB, Management Team: 1. CEO: Director at San Francisco Fed 2. CFO: Former analyst at Freddie Mac 3. Chief Admin Officer: Former CFO of Lehman Brothers 4. Chief Risk Officer: Led credit ratings in 2007 5. Chief Legal Officer: General Counsel at Citibank in 2008 Over the last 2 weeks, management sold nearly $5 million in stock. Who thought this team would work?
Well now they need to make the pay it all back
Hope they deposited their stock proceeds in SVB... Lol
https://twitter.com/unusual_whales/status/1634555021487480834?s=20
They had a trading plan setup most likely to avoid exactly insider trading. Now, at the executive level, it is hard to avoid influence of knowledge while setting up the plan.
Can't forget that the CEO was also a Director of the Federal Reserve. https://www.reuters.com/markets/us/ceo-failed-silicon-valley-bank-no-longer-director-sf-fed-2023-03-10/
I think large regional banks usually have their CEOs sitting in local Fed but I could be wrong.
Lol chief admin officer is from Lehman brothers?
You read that right
Arrest that guy