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At the dawn of 2020, Silicon Valley Bank was in an enviable position. The small lender had become the dominant regional bank in the valley, catering to the financial needs of venture capitalists, startups and the technology ecosystem. The Santa Clara-based holding company SVB Financial Group generated a 226% total return to shareholders from 2015 to 2020. The board’s directors included a former global vice chairman for a big four accounting firm, a senior executive in an A-list global consultancy, a former high-ranking official in the U.S. Treasury, a former deputy comptroller of the currency, plus numerous accomplished venture capitalists.…
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