Silicon Valley Bank’s new CEO urges customers to bring deposits back

SVB’s new CEO Tim Mayopoulos has had a lot to say in the 24 hours since he joined the bank on Monday. In a private Zoom meeting run by SVB for a select number of LPs and investors, he asked clients to return deposits to the institutions: “that’s the single most important thing you can do to ensure that Silicon Valley Bank survives.”
Mayopoulos, the former CEO and executive at Fannie Mae, said that the future of the bank is still being charted out, but added that depositors actions will impact these decisions. He said options for next incarnations for SVB Bridge Bank, its new name, is tha

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