Signature Bank Founders Suffer Major Losses in Collapse.

1 min read
Source: The Real Deal
Signature Bank Founders Suffer Major Losses in Collapse.
Photo: The Real Deal
TL;DR Summary

The co-founders of Signature Bank lost a combined $285 million when the bank collapsed on March 12, after regulators seized the institution and forced out its senior executives. The bank's executives had seen their compensation and net worth balloon as the regional lender grew at a breakneck pace, but scrutiny of their compensation is likely to intensify as regulators do a post-mortem and try to sell the bank’s remaining assets. The Biden administration is already discussing ways to claw back stock compensation from its executives, as well as those from Silicon Valley Bank, which collapsed at the same time.

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