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So, apparently SIVB's Chief Administrative Officer was a guy named Joseph Gentile. Heard that name before? He was the former CFO of Lehman Brothers, just before they went bankrupt! And before that? He worked at Arthur Andersen, the accountancy firm which collapsed in 2002 after their dodgy accounting of Enron was revealed!

Being associated with one major banking collapse is bad enough. But *three* top-tier collapses? What a CV!

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Discussion

Andy The Bitcoin Adviser 2y ago

Cause or effect?

Bowtied Peasant 2y ago

Apparently he joined SVB from Lehmans, just before the 2008 crash. So I don't think anyone can claim that he was brought in as a troubleshooter. Rather, one has to suspect that his financial (mis)management was the common cause of difficulty for both.

Bowtied Peasant 2y ago

Added to that, of course, is the fact that the Head of Risk at SIVB was busy setting up LGBTQ employee groups, instead of doing her day job...

Bowtied Peasant 2y ago

(Correction: Kim Olson was overall head - but seems not to have run a very tight ship)