Former Silicon Valley Bank CEO Apologizes for Bank’s Collapse in Senate Testimony

Sen. Sherrod Brown (D-Ohio), chairman of the Senate Banking Committee, on Capitol Hill in Washington, on Sept. 20, 2022. Kevin Dietsch/Getty Images

Former chief executive of Silicon Valley Bank (SVB) Greg Becker issued a public apology before a Senate committee on Tuesday. Becker expressed deep remorse for the devastating impact suffered by SVB’s employees, clients, and shareholders during the recent financial turmoil that led to the bank’s collapse.

“I never envisioned myself or SVB being in this situation,” Becker said, adding that he is “truly sorry for how this has impacted SVB’s employees, clients, and shareholders.”