SVB Hires Kim Olson as Chief Risk Officer

Rhea-AI Summary

SVB, parent of Silicon Valley Bank, appointed Kim Olson as Chief Risk Officer effective January 4, 2023. Olson brings over 30 years of financial services experience, including her role as Chief Risk Officer at SMBC in the Americas. She will lead SVB's risk management framework, enhancing its capabilities as the firm aims to support the innovation economy. With $213 billion in assets and over 8,200 employees, SVB continues its commitment to its clients, celebrating its 40th anniversary this year.

Positive

• Appointment of Kim Olson as CRO may strengthen SVB's risk management capabilities.
• Olson's extensive background in risk management could enhance SVB's strategic growth.

Negative

• Potential concerns about continuity as a new leader transitions into a critical role.
• Experience gap due to Olson's previous role at a different institution, which may impact the immediacy of decision-making.

SANTA CLARA, Calif., Jan. 4, 2023 /PRNewswire/ -- SVB, the financial partner of the innovation economy and parent of Silicon Valley Bank, today announced the appointment of Kim Olson as Chief Risk Officer (CRO). In this role, Olson will lead the Risk function and team, developing and maintaining SVB's risk management framework and a culture of risk management across the company.

"Kim's deep and multi-faceted financial services experience as a senior risk leader and former regulator and bank supervisor positions her perfectly to actively manage SVB's financial and non-financial risks and to build and scale the firm's risk management capabilities through our next phase of growth," said Greg Becker, president and CEO of SVB.

With $213 billion in assets and more than 8,200 employees globally (as of Q3 2022), SVB's mission is to increase its clients' probability of success. SVB provides innovators, enterprises and investors with the services they need to succeed via four complementary businesses: Silicon Valley Bank, SVB Capital, SVB Private and SVB Securities. In 2023, SVB celebrates the 40th anniversary of its founding and four decades serving investors and the innovation economy. The company is located in nine countries and is widely recognized as a champion of the innovation sector, a leader in corporate social responsibility and a great place to work.

Olson has thirty years of financial services experience. She joins SVB from Sumitomo Mitsui Banking Corporation (SMBC), where she served as the Chief Risk Officer for SMBC in the Americas, and an Executive Officer of SMBC and Sumitomo Mitsui Financial Group.

Prior to SMBC, Olson held senior risk management roles at other leading global financial institutions. She also has rating agency experience, as well as experience in professional services advising large- and medium-sized financial institutions on evolving regulations, risk management and stress testing following the 2008 financial crisis. Olson began her career at the Federal Reserve Bank of New York, where over a period of 10 years she held a variety of senior policy, regulatory and examination roles in banking supervision.

"SVB has an impressive track record of sound growth and remaining true to its strategy of serving the innovation economy. I am excited to lead SVB's outstanding risk management team and continue to build SVB's risk management framework and capabilities in this important next chapter of the firm's trajectory," said Olson.

Olson is based in SVB's New York office. She holds a bachelor's degree in political science from Santa Clara University and a master's degree in public administration from Harvard University.

About SVB

SVB is the financial partner of the innovation economy, helping individuals, investors and the world's most innovative companies achieve their ambitious goals. SVB's businesses - Silicon Valley Bank, SVB Capital, SVB Private and SVB Securities - together offer the services that dynamic and fast-growing clients require as they grow, including commercial banking, venture investing, wealth planning and investment banking. Headquartered in Santa Clara, California, SVB operates in centers of innovation around the world. Learn more at svb.com/global. [SIVB-C]

SVB Financial Group (SVB) (Nasdaq: SIVB) is the holding company for all business units and groups. © 2022 SVB Financial Group. All rights reserved. SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, SVB SECURITIES, SVB PRIVATE, SVB CAPITAL and the chevron device are trademarks of SVB Financial Group, used under license. Silicon Valley Bank is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/svb-hires-kim-olson-as-chief-risk-officer-301711529.html

SOURCE SVB Financial Group

FAQ

What is the significance of Kim Olson's appointment as Chief Risk Officer at SVB?

Kim Olson's appointment as CRO is significant as she will lead the development of SVB's risk management framework, crucial for its growth strategy and support of the innovation economy.

When was Kim Olson appointed as Chief Risk Officer at SVB?

Kim Olson was appointed as Chief Risk Officer at SVB on January 4, 2023.

What is Kim Olson's experience prior to joining SVB?

Before joining SVB, Kim Olson served as Chief Risk Officer at Sumitomo Mitsui Banking Corporation and has extensive experience in risk management and regulatory roles.

How does Kim Olson's appointment impact SVB's future?

Olson's appointment is expected to enhance SVB's risk management capabilities, positioning the company for continued success in serving the innovation economy.