Posted on 03/13/2023 1:09:09 PM PDT by grundle
Collapsed lender Silicon Valley Bank operated without a chief risk officer between April 2022 and January 2023 while the operation's United Kingdom-based Head of Risk stands accused of prioritizing pro-diversity initiatives over her actual role.
This revelation comes after the firm became the largest bank to collapse since the 2008 financial crisis - disclosing a $1.8 billion loss in its finances.
SVB's former head of risk, Laura Izurieta, who formerly performed a similar role for Capital One, left the bank in April 2022. She wasn't replaced until January 2023 when the bank hired Kim Olson, formerly of Japanese bank Sumitomo Mitsui.
Meanwhile, Jay Ersapah, who acts as Head of Risk for the bank in Europe, Africa and the Middle East and who describes herself as a 'queer person of color from a working-class background' - organized a host of LGBTQ initiatives including a month-long Pride campaign and implemented 'safe space' catch-ups for staff.
In a corporate video published just nine months ago, she said she 'could not be prouder' to work for SVB serving 'underrepresented entrepreneurs.'
Professional network Outstanding listed Ersapah as a top 100 LGTBQ Future Leader.
'Jay is a leading figure for the bank’s awareness activities including being a panelist at the SVB’s Global Pride townhall to share her experiences as a lesbian of color, moderating SVB’s EMEA Pride townhall and was instrumental in initiating the organization's first ever global "safe space catch-up", supporting employees in sharing their experiences of coming out,' her bio on the Outstanding website states.
It adds that she is 'allies' with gay rights charity Stonewall and had authored numerous articles to promote LGBTQ awareness.
These included 'Lesbian Visibility Day and Trans Awareness week.'
(Excerpt) Read more at dailymail.co.uk ...
First lawsuit already filed against Becker and his CFO.
Hope they enjoy being bankrupted for allowing this mentally ill whack job torch their “bank” and bring the US / World banking system to its knees.
Hey, screw prudence. SVB supported lesbianism!
Well....there....you....go.
It was already on its knees and on its way to the graveyard..Making way for Fedcoin!
“Everything woke turns to shit”
-President Donald Trump
So right. I can only think of one, maybe two, times he was wrong and that was because he was misled by scummy Marxists or rinos.
Since I work in Risk Management for large banks, this will probably be helpful career-wise but damn. What a cluster....
“The Woke Lesbian of Color Who Did Not Hedge”
(An Interest-Rate Risk Mystery Thriller)
Sounds like an NYT best-seller.
She will write a book about this shambles and make a few millions. When she should be in Jail.
How visible should a lesbian be?
Big Pelosi donor no doubt.
Get woke. Go broke......................
Watch where you put your investments, luckily those who are heavily invested are as woke as they are and they go down with the ship, enjoy
Think any of these woke corporations or banks will learn from this?
Probably not.
They'll allow bankruptcies and collapses and continue to prioritize their ESG and DEI agendas going forward.
The issue is never the issue. The Revolution is the issue.
“sidebarabuse”? This is one of the biggest stories of the year, and how it happened is part of the story. This is indeed “front page news”
So as far as the article, the company was obviously run stupidly. Stupid decisions lead to consequences. This takes “Get woke, go broke” to a whole new level.
Obviously Trump’s fault
More visible than a risk assessment manager...
Hire WOKE - Go Broke...
“…while the operation’s United Kingdom-based Head of Risk stands accused of prioritizing pro-diversity initiatives over her actual role.“
For deviants sex come first. It’s not a facet of their lives it IS their life.
You know, if you want to do this DIE stupidity along with you regular business that is one thing but instead? That is a whole new level of stupid.
Let me guess. Is Lesbian Visibility Day the time when all the lesbians come to work in their birthday suits and parade yhrought the building in the altogether?
Think any of these woke corporations or banks will learn from this?
Probably not.
**************
Think any state/federal oversight agencies will learn from this?
Probably not.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.