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SVB collapse spurs finance executives to re-evaluate cash strategies

5 min read . Updated: 16 Mar 2023, 07:57 PM IST Mark Maurer, The Wall Street Journal

Many of SVB’s clients were startups with small finance teams, making the bank an appealing lender as it also provided treasury services tailored to those businesses. (Photo: Reuters) — Many of SVB’s clients were startups with small finance teams, making the bank an appealing lender as it also provided treasury services tailored to those businesses. **(Photo: Reuters)**

Some companies are working to diversify their bank accounts, others are waiting and tracking the tech-focused bank’s fate

Financial officers at companies with money held at Silicon Valley Bank are re-evaluating their cash-management strategies in the wake of the bank’s collapse, a reckoning that comes after many firms feared they also would go under without access to their funds.