Regulators took over Silicon Valley Bank on Friday.
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A married couple who both work at Silicon Valley Bank are “grieving” its loss after its collapse.
SVB worker Cate Burbank said on LinkedIn working there “was a dream” until the last 48 hours.
“How could this have happened? I can’t believe the team as I know it no longer exists,” she said.
A married couple who both worked for Silicon Valley Bank are “grieving the loss” of the bank after it collapsed on Friday.
Cate Burbank posted on LinkedIn Saturday to say she and her husband Cameron both “felt the full range of emotions” following the failure of America’s 16th-largest bank.
Regulators shut down SVB on Friday, making it the biggest US bank collapse since 2008.
Cate Burbank had been a vice-president of FX sales since June 2019, while Cameron Burbank joined SVB in October 2021 as a VP in the life science and healthcare division, according to their LinkedIn profiles.
“Cam and I have felt the full range of emotions grieving the loss of SVB. How could this have happened? I can’t believe the team as I know it no longer exists. What is next for us?,” Cate Burbank wrote on LinkedIn.
The Boston-based employee added that working at SVB “was a dream come true until the last 48 hours unfolded”. She also said they’d reflected on their time at the bank and discussed one thing they each learned from working there.
“For me, I learned how to build things. I was empowered to have a seat at the table during an organization transformation. I was supported by senior leadership to create a community of over 100 women in product,” Cate Burbank wrote.
She added that Cameron “learned how to bring his full self to work and approach client relationships as organically as friendships.”
SVB staff have been offered one and a half times their salary for 45 days of work by the regulator that took over the bank, the Federal Deposit Insurance Corp, Reuters reported.
Workers will receive information about benefits including healthcare over the weekend, per an email from the FDIC sent to staff Friday, per Reuters.
SVB and Cate and Cameron Burbank did not immediately respond to requests for comment from Insider.
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Source:: Business Insider