Employment Records Of Top Silicon Valley Bank Execs Raise Eyebrows

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Two executives of the now-defunct Silicon Valley Bank (SVB) were previously high-level employees of the financial institutions Lehman Brothers and Deutsche Bank, according to the bank’s website.

Joseph Gentile holds the position of Chief Administrative Officer of SVB. Prior to gaining that position in 2007, he worked as the Chief Financial Officer for Lehman Brothers’ Global Investment Bank in finance and accounting within the Fixed Income Division, according to the bank’s website. Lehman Brothers ultimately collapsed in 2008 as a result of having a heavy position in subprime loans.

Kim Olson sits as the current Chief Risk Officer of SVB, a position that she has held since January 2023. Her position involves managing strategy and framework for global risk and compliance, according to SVB. Prior to that role she worked at Deutsche Bank where she played an integral role in critical risk management functions and professional services engagements.

In 2017, Deutsch Bank was forced to pay $7.2 billion after admitting it lied to investors about mortgaged-backed securities, the NY Post reported. The bank packaged home loans and sold them as “top quality” while having knowledge to the contrary.

“SVB has an impressive track record of sound growth and remaining true to its strategy of serving the innovation economy. I am excited to lead SVB’s outstanding risk management team and continue to build SVB’s risk management framework and capabilities in this important next chapter of the firm’s trajectory,” Olsen previously said in a press release.