SVB employees won't have a hard time finding new jobs
After events this week, employees of Silicon Valley Bank have good reason to wonder about their jobs. In the UK, SVB has been sold to HSBC for £1; in the US, results are still awaited as the bank is auctioned off, but the FDIC has indicated that staff will be employed for no more than 45 days on 1.5 times pay. When that ends, the good news is that SVB staff should find new jobs easily. They are well-loved across the financial and technology space.
In the UK, recent SVB leavers have gone on to impressive things. Alumni include Brook Johnson in marketing, who left in August to become an MD at JPMorgan. There's also Brian Geraghty, who left SVB and joined VC firm Claret Capital Partners as a principal in January.
In America, SVB MD Nate Wasson left last September to co-found VC firm Halbar Partners where he currently serves as CIO. Senior software engineer Anjali Pathak moved to Wells Fargo from SVB this month.
One senior exec left finance altogether. Chief data privacy and analytics officer Sandeep Bose, who joined after 13 years at American Express, left to co-found and act as CEO of educational-technology AI firm Drippy.
What makes SVB employees valuable? 💲💲💲
The diverse skillsets of SVB employees makes them welcome in a number of environments, says Alex Medana, blockchain entrepeneur and advisor to infrastructure fintech, ArtistVerified.
In the venture capital space, they stand out for "their insights on the start-up & VC ecosystems, particularly when it comes to cashflow management and funding."
Client facing professionals at SVB have experience across "user experience and client relationship management" says Medana, "SVB is bank that understands its clients better than most banks."
Medana says they're also great candidates for "banks who want to build deep connections in the startup world."
Have a confidential story, tip, or comment you’d like to share? Contact: alex.mcmurray@efinancialcareers.com in the first instance.
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