New CEO of failed Silicon Valley Bank was once fired from his Charlotte banking job

The new CEO of failed Silicon Valley Bank is a familiar name to many in Charlotte’s banking community — Tim Mayopoulos was fired as general counsel of Bank of America in 2008 in the midst of the financial crisis and escorted out of the office by an HR representative. The Silicon Valley Bank failure was the second-largest in U.S. history. The FDIC closed Silicon Valley Bank on March 10, started a new bank called Silicon Valley Bridge Bank, and named Mayopoulos as CEO on Monday. Silicon Valley Bank failed after numerous companies transferred their cash from the bank when it couldn’t raise more c...