This is the woman about whom we asked: "...More seriously: Why did the former Chief Risk Officer, Ms. Izurieta, resign?", not the poor sap who replaced her in January after the position had been left vacant by the management and board for eight months. (Bank CRO's can report directly to the Board's risk committee in most institutions.)
From the Daily Mail, March 20:
EXCLUSIVE: Silicon Valley Bank chief risk officer left company last year with over $7.1million after she oversaw a bond-buying spree that left it vulnerable to frenzied bank run that led to 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
- Her unexplained exit from SVB in April 2022 left it without a chief risk officer for eight months, a role required by federal regulations
- Izurieta, 62, presided over a spree of bond-buying in 2020 and 2021 that left the bank vulnerable to the kind of frenzied bank run which toppled it last week
....MUCH MORE
