Bloomberg.com
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Greg Becker had been a Class A director of the bank since 2019
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Silicon Valley Bank taken over by state, federal regulators
SVB Financial Group Chief Executive Officer Greg Becker is no longer a director of the Federal Reserve Bank of San Francisco, according to a Fed spokesman.
The change was effective Friday, the same day SVB-owned Silicon Valley Bank failed and was taken over by state and federal regulators. He became a Class A director of the San Francisco Fed’s head office board in 2019 and his departure leaves a vacant seat on the nine-member board.
The Fed’s 12 regional banks each have three classes of directors, with the Class A tier made up of representatives of district banks.
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