SVB did not have a chief risk officer from April to December 2022 (Not the Onion)

<p>The Federal Reserve is looking into Silicon Valley Bank's lack of a chief risk officer for much of last year as part of its investigation into the bank's failure, according to two people familiar with the situation (Bloomberg, gated).</p><ul><li>SVB revealed in a 2023 proxy statement that Chief Risk Officer Laura Izurieta left the company in October but stopped performing the role in April. </li><li>The company said Kim Olson took over the job in December. Olson is based in New York, across the country from most of the rest of SVB’s top brass. </li><li>The Fed, which declined to comment on Tuesday, has said that it will conduct an internal investigation of its oversight and publicly release the results on May 1.</li></ul><p>Pic via the Bloomberg Terminal. Terminal is an appropriate word when discussing SVB. </p> This article was written by Eamonn Sheridan at www.forexlive.com.

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