While Silicon Valley Bank execs may have failed to hedge against interest rate risk, they did signal $73.45 million in virtue donating to Black Lives Matter and related entities, according to a database maintained by the Claremont Institute which lists nearly $83 billion in donations to the Marxist organization.
Meanwhile, New York-based Signature Bank gave a total of $850,000 to the organization.
Both woke banks had touted their efforts to improve diversity among their staff – with SVB pledging in the summer of 2020 to increase its commitment to “diversity, equity and inclusion.’
During the pandemic, CEO Greg Becker announced an employee matching program for donations which focused on “pandemic-response, social justice, sustainability and supporting women, black and Latinx emerging talent and other underrepresented groups,” the Daily Mail reports.
HSBC chief executive Noel Quinn announced the acquisition of the Silicon Valley Bank UK unit for £1.
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