I honestly wonder if Cramer's sole function is to provide a pump so hedge funds can exit positions quietly.
Greg Becker Greg has been a champion of the innovation economy since he joined SVB in 1993 as a banker to fast-growing technology companies. Today, he is the president and CEO of the world’s only financial institution dedicated to the innovation sector around the globe. Greg has led the expansion of the company, now the nation’s 14th largest bank in the US, to include four primary businesses serving the innovation sector: global commercial banking, venture capital and credit investing, private banking and wealth management, and investment banking. Under Greg’s leadership, SVB has achieved considerable growth. SVB joined the S&P 500 in 2018 and has been named one of the best banks in America, one of the fastest growing public companies in the US, and one of the best places to work. SVB has been included in the Bloomberg Gender-Equality Index for the last five years and is consistently among the Top Corporate Philanthropists in its headquarters’ region. Working with employees, clients, and partners, Greg has also prioritized investments and initiatives to increase diversity and inclusion at SVB and across the innovation ecosystem, foster economic development and support community well-being. Prior to taking on the SVB President and CEO role in 2011, Greg held a variety of leadership positions, including co-founding SVB Capital, which manages some of the world’s top-rated venture fund-of-funds and direct investment funds. Greg was named to the Silicon Valley Business Journal’s inaugural Power 100 list in 2023. He is a Class A Director for the Federal Reserve Bank of San Francisco, and since 2016 has been a member of TechNet’s executive council, which he chaired from 2020-2022. He is also a member of the executive board of the Silicon Valley Leadership Group, which he chaired from 2014-2017, and serves on the One Mind at Work Guiding Council. Greg earned a bachelor’s degree in business from Indiana University.
I bought some SCHW in the afternoon. I wish I could say I would be shocked if we had another bank contagion but it really wouldn't be shocking at all. SVB seems like such a different type of bank though. Just downloaded the annual report that came out 2/23. That will be an interesting read knowing it goes up in smoke two weeks later.