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SVB Financial Files for Bankruptcy Protection After Losing Its $209 Billion Bank

Holding Company Turns To Executive With Experience Handling Major Reorganizations
Silicon Valley Bank customers waited in line at the bank’s headquarters in Santa Clara, California, earlier this week. (Getty Images)
Silicon Valley Bank customers waited in line at the bank’s headquarters in Santa Clara, California, earlier this week. (Getty Images)
CoStar News
March 17, 2023 | 3:59 P.M.

SVB Financial Group, until a week ago the bank holding company for failed Silicon Valley Bank, filed for Chapter 11 bankruptcy protection and turned to the executive who led the restructuring of the only larger banking failure this century.

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