Saturday, March 11, 2023

Gary Becker, CEO of Silicon Valley Bank, Is No Longer On the Board Of Directors of the Federal Reserve Bank of San Francisco

 From Reuters, March 10:

The chief executive officer of failed Silicon Valley Bank, Greg Becker, is no longer on the board of directors at the Federal Reserve Bank of San Francisco.

Becker's departure was effective on Friday, a spokesperson for the Federal Reserve said. Earlier on Friday, Silicon Valley Bank was closed by regulators.

The spokesperson declined to say how Becker exited the San Francisco Fed board. Becker served as a Class A director at the San Francisco Fed, one of three finance executives representing member banks in the San Francisco Fed district....

....MUCH MORE

Probably for the better.
The next board meting might have gotten awkward otherwise.