Republished with permission, originally appeared in the Colorado Lawyer, July/August 2023 issue.
The recent collapse of Silicon Valley Bank (SVB), Signature Bank, and First Republic Bank (First Republic), and the near calamitous fallout on the financial sector and many companies, should be a wake-up call. There are lessons in failure. Many companies may benefit from a closer examination of existing board governance structures to determine whether increased oversight of management and operations is necessary.
In this Colorado Lawyer article, partner George Singer provides an overview of recent bank collapses and offers practical guidance for advising corporate directors about banking risks and fiduciary duties.
Read the full article here: Corporate Governance: Lessons for Directors From Recent Bank Failures.