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Fatal Distraction? Senior SVB Risk Manager Oversaw Woke LGBT Programs
While Silicon Valley Bank careened toward its spectacular collapse, the bank's head of risk management for Europe, Africa and the Middle East devoted a chunk of her time to various LGBTQ+ programs.
Meanwhile, SVB went without a chief risk officer (CRO) from April 2022 to January 2023, the Daily Mail reports, as the bank apparently had little urgency to replace Laura Izurieta before finally tapping Kim Olson earlier this year.
On the other hand, a few months before that long CRO vacancy began, SVB boasted, "We have a Chief Diversity, Equity and Inclusion Officer, an executive-led DEI Steering Committee and Employee Resource Groups with executive sponsors focused on these objectives."
As SVB's CRO office stood vacant in Santa Clara, Jay Ersapah a self-described "queer person of color from a working-class background" was splitting her time between risk management and an assortment of woke programs, as she co-chaired SVB's "European LGBTQIA+ Employee Resource Group."
For example, at the same time she was responsible for managing risks associated with SVB's European, African and Middle Eastern portfolios, Ersapah oversaw a month-long Pride campaign.
According to her bio on a professional networking site, Ersapah also "was instrumental in initiating the [SVB's] first ever global 'safe space catch-up,' supporting employees in sharing their experiences of coming out" as something other than heterosexual.
Ersapah, whose job history on LinkedIn lists roles at Citi, Barclays and Deloitte, also devoted some of her SVB time to writing articles promoting "Lesbian Visibility Day" and "Trans Awareness Week," the Daily Mail reports.
https://www.zerohedge.com/markets/fatal-distraction-senior-svb-risk-manager-oversaw-woke-lgbt-programs
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