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Tim Mayopoulos

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finance2 years ago•4 min saved

Silicon Valley Bank's New CEO Encourages Growth and Investment.

Tim Mayopoulos, the new CEO of Silicon Valley Bank, has urged his high-powered venture capital and startup clients to bring their money back to the bank, stating that there is no safer place in the US banking system to put their deposits. Mayopoulos was appointed by the government and is making his pleas to current and former clients, but it is not clear how long he will stay in his current job as the bank is currently controlled by the Federal Deposit Insurance Corporation. Mayopoulos listed three possibilities for the bank's future: recapitalization, sale, or liquidation.

via CNBC|

#banking #finance #silicon-valley-bank

finance2 years ago•1 min saved

Silicon Valley Bank's New CEO Sends Clear Message to Employees and Investors

The new CEO of Silicon Valley Bank, Tim Mayopoulos, reassured employees that the bank was open for business and had resumed many of its usual business activities after the FDIC took control of the bank on Friday. Mayopoulos said that the bank could still be acquired but that he saw value in it continuing on its own. Venture capitalists, who make up a significant part of the company's business, had expressed support for the bank in meetings.

via NBC News|

#business-activities #fdic #finance

business2 years ago•3 min saved

Silicon Valley Bank's CEO Tim Mayopoulos calls for deposit base rebuilding.

Tim Mayopoulos, former CEO of Fannie Mae and president of Blend, has been named CEO of Silicon Valley Bridge Bank, the remaining entity of Silicon Valley Bank after its collapse, which is the second-largest bank failure in US history. Mayopoulos will have to run the bank's businesses while sifting through what's left of the failed entity, looking for investments and loans that still have value, all under the watchful eyes of a board of directors appointed by the FDIC. He is expected to keep the bank's businesses in good enough shape that they appeal to buyers no matter how long a sale takes.

via The New York Times|

#bank-failure #banking-industry #business

business2 years ago•2 min saved

SVB's CEO calls for customer support in rebuilding deposit base.

The new CEO of Silicon Valley Bank, Tim Mayopoulos, has urged customers to return to the bank after it was taken over by the Federal Deposit Insurance Corporation (FDIC) following its collapse. Mayopoulos reassured customers that the bank is fully operational and making new loans, and encouraged them to make deposits and transfer back any funds that were pulled out in the past week. The closure of Silicon Valley Bank, the biggest bank failure since the 2008 banking crisis, has raised concerns about its impact on the start-up industry. The bank will not receive a bailout, according to President Biden and Treasury Secretary Janet Yellen.

via The Hill|

#bailout #bank-collapse #business