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).

  • 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.
  • 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.
  • 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.
Bloomberg terminal svb

Pic via the Bloomberg Terminal. Terminal is an appropriate word when discussing SVB.