Salt of the Earth Consulting

Sundry Edition

A Biweekly Newsletter by Salt of the Earth Consulting, LLC
Vol. 15 | March 29, 2023

At Salt of the Earth Consulting, we created Sundry Edition as a way to further our mission to be a trusted and beneficial partner within our community. Each newsletter includes a curated list of articles that fit a theme within the financial services industry. And, because at SOTE we each share a passion for music, we always include a few song recommendations!

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What’s the Word on SVB – Pt. 2

In our last Sundry Edition, we shared some of the important conversations taking place about the Silicon Valley Bank (SVB) collapse, including a Barron’s piece with insights from SOTE Founder & CEO Kathy Dick. If you missed it, you can find Vol. 14 here.

As undoubtably everyone in the financial services industry knows, there is still plenty more to talk about with SVB. We are still early in the investigation and while we do not necessarily agree with all viewpoints shared by the sources we site, we do think it is important to listen to credible leaders and consider their viewpoints. This week, we are sharing a thoughtful opinion piece by Sheila Bair, a former chair of the FDIC, as well as prepared remarks by Treasury Secretary Janet Yellen at the American Bankers Association’s Washington DC Summit. SOTE’s Kathy Dick was able to attend a dinner last Wednesday hosted by The Economic Club of Washington D.C. where David Rubenstein, co-founder and co-chairman of The Carlyle Group, and Jane Fraser, CEO of Citigroup, discussed the current banking situation. You can watch a recording of their conversation here. As for an update, First Citizens announced late Sunday night that they will acquire SVB. You can read all of the details in the New York Times article linked below.

Let’s continue this conversation. At SOTE, risk management is one of our main areas of expertise, and we firmly believe that even with strong risk management it is always a good practice to get regular feedback. We would love for you to connect with us on LinkedIn, read more about our services, or get in touch.

What We’re Reading…

• US REGULATORS ARE SETTING A DANGEROUS PRECEDENT ON SILICON VALLEY BANK

• TREASURY SECRETARY JANET YELLEN SAID THE SVB COLLAPSE IS ‘VERY DIFFERENT’ FROM THE 2008 CRISIS AND THAT THE FINANCIAL SYSTEM IS ‘SIGNIFICANTLY STRONGER THAN IT WAS 15 YEARS AGO’

• FIRST CITIZENS TO ACQUIRE FAILED SILICON VALLEY BANK

What We’re Watching…

• JANE FRASER, CHIEF EXECUTIVE OFFICER OF CITI, AT THE ECONOMIC CLUB OF WASHINGTON D.C.

What We’re Listening To…