SVB’s new CEO Tim Mayopoulos 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 the next incarnation of SVB Bridge Bank, its new name, is that it would team up with another financial institution or other investors, or that it could be wound down. #techcrunch #technews #svb #investing #siliconvalleybank #startups #techtok #founders #investor
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