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SVB Financial’s CEO, CFO Resign in Wake of Bank’s Failure

SVB Financial Group CEO Gregory Becker and chief financial officer Daniel Beck have stepped down, the parent company of the collapsed Silicon Valley Bank disclosed in a regulatory filing. So reports CNN.

silicon valley bankNicholas Grossi of Alvarez & Marsal, the business advisory firm hired by SVB after filing for bankruptcy protection in March, will serve as interim CFO.

SVB said Grossi will also, in practice, act as head of the company, which did not appoint an interim CEO.

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