SVB CEO Greg Becker's Pay Was Doubled for Making Risky Bets: Report
The chief executive's bonus peaked the year SVB increased profitability by making risky investments.
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The chief executive's bonus peaked the year SVB increased profitability by making risky investments.
Bonuses paid to bosses at Silicon Valley Bank increased by millions of dollars as they embarked on a series of risky investments that ultimately contributed to the bank's collapse.
Laura Izurieta, former chief risk officer at Silicon Valley Bank, walked away with over $7.1million last year after hashing out a lucrative exit deal.
A newly obtained audio recording exposes Greg Becker's downplaying of financial crisis at Silicon Valley Bank days before its collapse.
Former SVB President and CEO Greg Becker sold over $3.5 million of his company stock holdings on Feb. 27, according to a disclosure made to the SEC.