‘Help us rebuild’ deposit base, says SVBB CEO

The bank is open for business, making new loans and honouring existing credit facilities, Mayopoulos said. — Reuters

NEW YORK: The new chief executive officer (CEO) of Silicon Valley Bridge Bank (SVBB) Tim Mayopoulos has one ask: that depositors pivot back to the lender.

“The number one thing you can do to support the future of this institution is to help us rebuild our deposit base, both by leaving deposits with SVBB and transferring back deposits that left over the last several days,” he wrote in an email to clients.