SVB’s new CEO urges shoppers to ‘help us rebuild our deposit base’

Essential Details

Tim Mayopoulos, who was appointed by regulators to operate SVB, despatched an e mail to customers on Tuesday telling them the financial institution is “open for small business.”
Mayopoulos urged shoppers who moved their deposits in other places to “remember to take into account moving some of them again as portion of a secure deposit diversification system.”
SVB was seized by regulators on Friday after a operate on the 40-year-previous lender.

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