FILE PHOTO: Greg Becker, President and CEO of SVB, speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, U.S., May 3, 2022. REUTERS/Mike Blake/File Photo
By Lananh Nguyen and Pete Schroeder
NEW YORK (Reuters) – Greg Becker, the chief executive officer of Silicon Valley Bank, sent a video message to employees acknowledging the “incredibly difficult” 48 hours leading up to its collapse on Friday.
“It’s with an incredibly heavy heart that I’m here to deliver this message,” he said in the video seen by Reuters.
While the Federal Deposit Insurance Corporation has taken control of the lender, Becker said he is working with banking regulators to find a partner for the bank.
There is “no guarantee” that a deal will be struck, he said.