Odaily Planet Daily News At the failed, cryptocurrency-friendly bank Silvergate, three executives are leaving the company. CEO and president Alan Lane and chief legal officer John Bonino will leave the company on Aug. 15, according to a filing with the Securities and Exchange Commission. Silvergate's chief financial officer, Antonio Martino, will step down by September 30.
The three executives will receive a severance package but will no longer receive compensation from the company. Silvergate's chief risk officer, Kathleen Fraher, will serve as the company's and bank's "chief transition officer" following Lane's departure. Chief Accounting Officer Andrew Surry will assume key financial officer responsibilities. "At this time, the company does not anticipate appointing a president and chief executive officer of the company, a chief executive officer of the bank, or a chief financial officer of the company and the bank, given plans to pursue liquidation of the bank," the company wrote.