Silicon Valley Bank ‘conducting business as usual,’ new CEO says

Silicon Valley Bank’s new CEO Tim Mayopoulos assured clients Monday that the lender is “open” and “conducting business as usual” — after the stunning collapse of the nation’s 16th-largest bank sparked fears of a major economic crisis.

The Federal Deposit Insurance Corporation (FDIC) named Mayopoulos to lead the newly created bridge bank, named Silicon Valley Bank N.A., Monday after federal regulators shuttered the start-up-focused lender Friday. ---More...