Silicon Valley Bank CEO sends message to employees with 'heavy heart'

Greg Becker, the chief executive officer of Silicon Valley Bank. Credit: Reuters Photo

Greg Becker, the chief executive officer of Silicon Valley Bank, sent a video message to employees acknowledging the "incredibly difficult" 48 hours leading up to its collapse on Friday.

"It's with an incredibly heavy heart that I'm here to deliver this message," he said in the video seen by Reuters.

Also read | US closes Silicon Valley Bank in biggest collapse since 2008

While the Federal Deposit Insurance Corporation has taken control of the lender, Becker said he is working with banking regulators to find a partner for the bank.

There is "no guarantee" that a deal will be struck, he said.

Deccan Herald is on WhatsApp Channels | Join now for Breaking News & Editor's Picks