Silicon Valley Bank had no Chief Risk Officer for 9 months, from April 2022 until January 2023

Unusual Whales

15 Mar 2023 • 1 min read

Silicon Valley Bank had no Chief Risk Officer for 9 months, from April 2022 until January 2023.

Laura Izurieta stepped down from her role as CRO of SVB Financial Group in April 2022, and formally departed the company in October.

According to a separation agreement, she exited her role in April 29 with a package paying her around $2 million for her 2022 work and nearly $460,000 in severance.

The Fed is reportedly focusing on this, in their recent probe.

Notably, the US Justice Department and the Securities and Exchange Commission are investigating the collapse of Silicon Valley Bank (SVB), after it was taken over by regulators last week. The investigations are in their preliminary phases and are looking into potential stock sales by SVB's officers in the days leading up to the bank's failure. The probes may not lead to any charges or allegations of wrongdoing.

The company's CEO and CFO have not commented on the investigations.

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