We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.
To save content items to your account,
please confirm that you agree to abide by our usage policies.
If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account.
Find out more about saving content to .
To save content items to your Kindle, first ensure no-reply@cambridge.org
is added to your Approved Personal Document E-mail List under your Personal Document Settings
on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part
of your Kindle email address below.
Find out more about saving to your Kindle.
Note you can select to save to either the @free.kindle.com or @kindle.com variations.
‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi.
‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.
Banks know that customers hate them. That is the headline from a CNN Business report from a survey of banking executives.1 The financial crisis of 2008 engraved stains on banks that more than 80 percent of managers at banks, brokerages, and other financial services firms believe continue to have a negative impact on their companies. JPMorgan Chase, Bank of America, and Citigroup saw their biggest fall in reputation. Their names stayed in the headlines for settlements with the regulators reaching billions. Regulators imposed hefty fines against banks in 2021: Capital One, $390 million; Deutsche Bank, $130 million; Julius Baer, $79 million; Apple Bank for Savings, $12.5 million.2 The total fines against big banks in the United States in 2020 escalated to more than $11 billion, including the largest single fine issued against Goldman Sachs ($3.9 billion) and the second largest against Wells Fargo ($3 billion).3
The Black Lives Matter movement and the pandemic propelled many financial institutions, including banks, to adopt Environment, Social, and Governance (ESG) principles. Banks disclosed their metrics in various reports showing that they were somewhat implementing efforts to address ESG in their business, operations, and management.
This book provides a first-hand account of the founding, ascent, and dissolution of Silicon Valley Bank (SVB), a tech community bank founded in 1982 with US$5 million that became the nation's 13th largest bank and tech industry's lender and bank. In this pathbreaking work, which challenges conventional understanding of risky tech lending by showing how an independent community bank became the go-to bank for the tech industry in the United States, Xuan-Thao Nguyen includes interviews with key players, ranging from the original founders and early employees to the current CEO of SVB. Chapters explore how the relationship between the venture capital (VC) industry and SVB transformed the way commercial banks comply with banking regulators while lending and nurturing young tech clients. The book demonstrates why the relationships between investors, start-ups, bankers, lenders, experts, lawyers, regulators, and community leaders are key ingredients for ongoing innovation in the tech industry. The book concludes with the sobering dissection of SVB's sudden death by $142 billion cuts inflicted by tech bros, social media, and the Federal Reserve Bank's successive interest rate hikes to squash the overheated economy.
Recommend this
Email your librarian or administrator to recommend adding this to your organisation's collection.