Focus Group Leader Financial Institutions
London, UK
+44 (0)20 7667 0533
Neale is responsible for growing an international financial institutions business.
It is too early to discern the impact which failures of three, (at latest count), banks in the US will have on the wider D&O market. But there are some early lessons. Silicon Valley Bank (SVB) demonstrated what a run on a bank looks like in the age of digital banking. It is very, very fast. That SVB’s client base comprised some of the world’s leading tech companies with cutting edge systems will have contributed. Nonetheless, at the slightest hint of collapse, the money moved out instantly. The news of SVB’s difficulties spread rapidly on social media among a highly attuned audience and they reacted. This should now be regarded as the norm. When a collapse happens, it happens rapidly.
