SVB’s UK arm issues 15M pounds in bonuses after symbolic bailout: Report
Insider sources described the bonus pool as “modest,” adding that the stock held by senior execs had been “rendered worthless” following SVB UK’s “near-collapse.”This post was originally published on this site
SVB Financial Group Files for Chapter 11 Bankruptcy Protection to ‘Preserve’ Firm’s Value
On March 17, 2023, SVB Financial Group, the parent company of Silicon Valley Bank, filed for Chapter 11 bankruptcy protection in the Southern District of New York. The company stated that it is no longer associated with Silicon Valley Bank (SVB) after the Federal Deposit Insurance Corporation (FDIC) placed it into receivership last week. 3 […]