4/3/2023, New York
A new report showed that Silicon Valley Bank knew that higher interest rates would have a devastating impact on the bank’s revenue. Instead of adjusting their strategy to avert disaster, they chose to adjust their model for how they tracked interest rate risk. This comes before the company’s executives sold unprecedented volume of their own company’s stock.
SVB bonuses range from $12,000 for associates to $140,000 for managing directors, according to Glassdoor. The average employee earns around $250,000, as of 2018.
According to CNBC, SVB executives sold $84B in stock over the past 2 years.
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