Silicon Valley Bank’s new owner is “fighting” to repair its damaged brand, stem deposit outflows and stop dozens more bankers quitting to join rivals as it attempts to rebuild the US technology bank that collapsed last month, according to one of its top executives.
“We are in the early days of getting them stabilised and back in business,” Peter Bristow, the president of North Carolina-based First Citizens, which acquired SVB in a landmark deal brokered by federal regulators in March, told the Financial Times.
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