Mary Miller, a former Baltimore mayoral candidate who came in third place in the 2020 Democratic primary, chaired the audits committee of the board of the shuttered California lender that was taken over by federal regulators last week.
The former Obama administration Treasury Department official was appointed to the board of the now-defunct Silicon Valley Bank in 2015, according to the bankāsĀ 2023 proxy filing. In addition to chairing the audits committee, Miller served on the boardās risk and finance committees, where she was responsible for ārisk appetite, risk profile and risk cultureā and financial and balance sheet strategies.
She is also one of five board members appointed by the now-shuttered bankās new FDIC-founded parent company to a committee tasked with considering potential buyers, managing billions in debt and restructuring the remaining parts of the Silicon Valley Bank portfolio.
Miller declined to comment.
Last week, Silicon Valley Bank becameĀ the largest bank to fail since the 2008 global financial crisis, after it revealed huge financial losses tied to rising interest rates and dwindling startup funding, leading panicked depositors to withdraw their money in a bank run.
You can read more of this Baltimore Banner article here.
###