Silicon Valley Bank (SVB) UK’s head of financial risk management reportedly spent the months preceding up to the unexpected collapse of the bank establishing and driving LGBTQ initiatives for the corporation.
While the bank was on the verge of failing, Jay Ersapah, who was the head of financial risk management, orchestrated a month-long pride campaign, created a venue for workers to share their coming out experiences, and co-chaired the European LGBTQ Employee Resource Group.
Ersapah, who identifies herself as “a queer person of color and a first generation immigrant from a working class background,” was listed on SVB’s “Outstanding LGBT+ Role Models List 2022” just four months before the bank was closed down.
“The phrase ‘you can’t be what you can’t see’ resonates with me. As a queer person of color and a first generation immigrant from a working class background, there were not many role models for me to ‘see’ growing up. I feel privileged to co-chair the LGBTQ+ ERG and help spread awareness of lived queer experiences, partner with charitable organizations, and above all, create a sense of community for our LGBTQ+ employees and allies,” she wrote in the bank’s recent ‘Diversity, Equity and Inclusion’ initiative.
Jay Ersapah – HEAD OF FINANCIAL RISK MANAGEMENT – #SiliconValley Bank
Jay even had LGBTQ+ and ERG in her profile! ☠️
She was a Silicon Valley talent recruiters dream!! 🤣🤣#SVBCollapse | #BankCrash | #USDCrash pic.twitter.com/1CoTeVHUT3
— JDO News (@JDO_News) March 12, 2023
SVB, which before to its closure was the 16th largest bank in the United States, also withdrew an environmental, social, and governance report that detailed the company’s efforts to combat climate change.
Friday marked the official closing of the Silicon Valley Bank, which was ordered by California authorities in response to a run on the bank.
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