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What is left of "this bank" if it is owned by another bank? My understanding is that the shareholders were wiped out and the senior management will be different
by gnicholas 4y ago
What is left of "this bank" if it is owned by another bank? My understanding is that the shareholders were wiped out and the senior management will be different.
I am not at SVB but was considering whether it might make sense to have a second account there, for FDIC-spreading purposes. I have the same knee-jerk reaction as many people, but on second thought I wonder if this is irrational.
- thedougd 4y agoLooking at this transaction, I don’t expect the SVB employees to keep their jobs with the exception of those who staff the branches. You’re already at a new bank.