That fits. Bernie Marcus (Home Depot) described it as a "woke bank."
Re: SVB issue might be related to their head of Financial risk management person -- robertb	Post Reply	Top of thread	Forum

Posted by: Russ Walden ^®

03/12/2023, 14:15:24

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Home Depot co-founder torches ‘woke’ Silicon Valley Bank collapse

""I think that the system, that the administration has pushed many of
these banks into [being] more concerned about global warming than they
do about shareholder return. And these banks are badly run because everybody is focused on diversity and all of the woke issues and not concentrating on the one thing they should, which is shareholder returns."

Also, from a ZeroHedge article:

"While Silicon Valley Bank careened toward its spectacular collapse, the
bank's head of risk management for Europe, Africa and the Middle East
devoted a chunk of her time to various LGBTQ+ programs.

Meanwhile, SVB went without a chief risk officer (CRO) from April 2022 to January 2023, the Daily Mail
reports, as the bank apparently had little urgency to replace Laura
Izurieta before finally tapping Kim Olson earlier this year.

On the other hand, a few months before that long CRO vacancy began, SVB boasted, "We
have a Chief Diversity, Equity and Inclusion Officer, an executive-led
DEI Steering Committee and Employee Resource Groups with executive
sponsors focused on these objectives."

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Looks like Bernie was spot-on in his assessment.

Regards,

Russ

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