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Why lack of CRO at Silicon Valley Bank should have rung alarm bells

A branch of SVB in Santa Monica. More details are emerging about the failed bank’s operations. (Photo: Lauren Justice/ Bloomberg)
A branch of SVB in Santa Monica. More details are emerging about the failed bank’s operations. (Photo: Lauren Justice/ Bloomberg)

News that the collapsed SVB did not have a chief risk officer for much of 2022 has raised questions about oversight at lower tier banks. The US Federal Reserve is probing why Silicon Valley Bank did not have a chief risk officer for much of 2022, as part of its...

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