The disastrously failed Silicon Valley Bank may not have been very good at banking, but it sure spent a lot of time and millions of its depositors’ money on “diversity” and other idiotic wokeness.
Firstly, it was discovered that SVB hired a silly little woman who was far prouder of being a “queer person of color” than she was in her job as the bank’s “head of financial risk management.”
Who the hell was in charge of risk management at SVB and what the hell were they focused on???
— Comfortably Smug (@ComfortablySmug) March 11, 2023
Well, isn’t she just cute as a little ol’ button, bless her heart.
Unsurprisingly, miss Ersapah had been MIA for most of the last year as the bank descended into failure because she spent the last nine months organizing a month-long Pride campaign and a “Lesbian Visibility Day,” the Daily Mail reported.
The bank named Kim Olson as its new Chief Risk Officer and she only assumed her position in January 2023. It was too late, apparently, to stave off the disaster.
But our “queer” Ersapah had all the “equity,” “gay,” “lesbian,” “diversity” programs all well in hand during her meaningless tenure at SVB as the place was coming apart at the seams.
The Mail adds:
Meanwhile, Jay Ersapah, who acts as CRO for the bank in Europe, Africa and the Middle East and who describes herself as a ‘queer person of color from a working-class background’ – organized a host of LGBTQ initiatives including a month-long Pride campaign and implemented ‘safe space’ catch-ups for staff.
In a corporate video published just nine months ago, she said she ‘could not be prouder’ to work for SVB serving ‘underrepresented entrepreneurs.’
Professional network Outstanding listed Ersapah as a top 100 LGTBQ Future Leader.
‘Jay is a leading figure for the bank’s awareness activities including being a panelist at the SVB’s Global Pride townhall to share her experiences as a lesbian of color, moderating SVB’s EMEA Pride townhall and was instrumental in initiating the organization’s first ever global “safe space catch-up”, supporting employees in sharing their experiences of coming out,’ her bio on the Outstanding website states.
It adds that she is ‘allies’ with gay rights charity Stonewall and had authored numerous articles to promote LGBTQ awareness.
These included ‘Lesbian Visibility Day and Trans Awareness week.’
Well, isn’t she just a pip?
Since its disaster, we have learned other things about SVB, too.
For instance, only hours before the bank failed, the bank paid its employees their annual bonuses, according to CNBC.
Silicon Valley Bank employees received their annual bonuses Friday just hours before regulators seized the failing bank, according to people with knowledge of the payments.
The Santa Clara, California-based bank has historically paid employee bonuses on the second Friday of March, said the people, who declined to be identified speaking about the awards. The payments were for work done in 2022 and had been in process days before the bank’s collapse, the sources said.
Great for the employees… not so great for the bank’s customers.
But, hey, that money went to good use. After all, it has also been reported that bank officers and employees were HUGE donors to the Democrat Party.
Shocking, I know.
Let’s hope these other woke corporations are paying attention. This is what happens when companies mistake wokeness for being their job.
Follow Warner Todd Huston on Facebook at: facebook.com/Warner.Todd.Huston, or Truth Social @WarnerToddHuston