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Ex-Fannie Mae Boss to Run Silicon Valley Bridge Bank

The Federal Deposit Insurance Corporation has tapped former Fannie Mae head Tim Mayopoulos as the chief executive officer of Silicon Valley Bank, a newly formed “bridge bank” after the collapse of SVB Financial Group. So reports Reuters.

FDCIMayoupolous spent more than six years as CEO of Fannie Mae and then hopped over to fintech Blend.

The FDIC transferred all deposits and essentially all assets of the failed bank to the new financial institution.

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