Go woke go broke! SVB hired board obsessed with diversity, invested $5BN for 'healthier planet' and held month-long Pride celebration - but had NO chief risk officer for eight months last year.
- Silicon Valley Bank had an A rating for its Environmental, Social and Governance policies as it increased diversity and invested in sustainability startups
- But for eight months last year, the bank did not have a chief risk operator
- At the time, it was investing clients' money in low-interest government bonds and securities that saw their value fall when interest rates rose
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