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๐Ÿ“ˆ Macroeconomics

SVB CEO Greg Becker, CFO Daniel Beck resign. SVB hired Alvarez & Marsal (A&M) as a restructuring advisor. The restructuring committee appointed Nicholas Grossi of A&M as the company's interim chief financial officer on April 20.

r/Superstonk - SVB CEO Greg Becker, CFO Daniel Beck resign. SVB hired Alvarez & Marsal (A&M) as a restructuring advisor. The restructuring committee appointed Nicholas Grossi of A&M as the company's interim chief financial officer on April 20.

Source: https://www.sec.gov/ix?doc=/Archives/edgar/data/719739/000119312523110576/d377955d8k.htm

Highlights:

  • SVB Financial Group's CEO and chief financial officer resigned while the failed bank's restructuring committee appointed a turnaround expert as interim CFO, according to a regulatory filing on today.
  • CEO Gregory Becker resigned on April 19
  • CFO Daniel Beck left the company on April 18
  • The company hired Alvarez & Marsal (A&M) as a restructuring advisor.
  • The restructuring committee appointed Nicholas Grossi of A&M as the company's interim chief financial officer on April 20.
r/Superstonk - SVB CEO Greg Becker, CFO Daniel Beck resign. SVB hired Alvarez & Marsal (A&M) as a restructuring advisor. The restructuring committee appointed Nicholas Grossi of A&M as the company's interim chief financial officer on April 20.
r/Superstonk - SVB CEO Greg Becker, CFO Daniel Beck resign. SVB hired Alvarez & Marsal (A&M) as a restructuring advisor. The restructuring committee appointed Nicholas Grossi of A&M as the company's interim chief financial officer on April 20.

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