The CEO and CFO of Silicon Valley Bank have resigned this week

ChainCatcher news, Silicon Valley Bank Financial Group announced that its CEO Gregory Becker and CFO Daniel Beck have resigned this week. Becker will serve as a company advisor "as needed" without any compensation.

Additionally, the group is exploring strategic options for its subsidiaries SVB Capital and SVB Securities.

Silicon Valley Bank was sold to First Citizens BancShares Inc. by regulators last month. Becker joined Silicon Valley Bank in 1993 and was appointed CEO in 2011. Beck was appointed CFO in 2017, and Nicholas Grossi will temporarily take over his position. (Bloomberg)