Over the past 2 weeks, Business Insider has conducted a series of interviews with a Silicon Valley Bank employee who gave a first-hand account of the bank’s implosion on March 10 as experienced by rank-and-file staff. His identity is known to Business Insider, who agreed to remain anonymous due to the sensitivity of customer relations. His account has been edited to improve length and clarity. The messages I received the first weekend were like more million dollars being at your own wake. “It has been wonderful to work with you.” “Silicon Valley Bank has been a great pillar of support.” These are the things people say about you when you’re no longer here. Now that we have passed through that moment, we are as if resurrected. In the best case scenario, which seems unlikely to me given the deterioration of the brand, we operate as a 100% subsidiary. The most realistic hope is that they will sell to us. The tender has been opened to non-banking institutions. It closed on Friday.
It’s where department heads sit down with the people
We didn’t know what was going to happen to us. We didn’t know what we could say to the clients, and yet all the clients called us. All transfers had stopped. Nobody more million dollars could get money. We were on the front line. Now, my boss has assured that senior management will communicate with us more directly. My boss is part of what has been dubbed the “war room” of the Palo Alto, California office . It is the only office that has remained open during all of this. at the Czech Republic Mobile Number Database Federal Deposit Insurance Corporation (FDIC) and try to figure it all out. The product manager, the credit manager, and so on meet with them. In fact, we had no idea beforehand what was going to happen. My team found out that.
I ate a bagel a day and slept 2 or 3 hours a night
During the first few days, our team’s biggest frustration was that no one was telling us what we could say to our clients. It was never, “You’re not telling me what’s going to happen to me, personally.” The people who actually worked at SVB didn’t ask about their own more million dollars homes, or their children’s college education, even though those things were also at risk. Until today, everyone has focused on customers. Selfish behavior, during that first week, did not exist. It was chaos.. The Georgia phone number list weekend after the FDIC takeover was crazy. At the beginning there was a list of 13 venture capital firms that were willing to sign a statement saying they supported us. We needed to increase that number. We spent an entire weekend on the phone, by email, by chat, any way we could to get in touch with VC firms, VC partners, operating partners.
