Ep 9: Mark Freund on Banking and the Failure and Recovery at SVB and FRB

Mark Freund was at First Republic Bank in May of 2023 when it succumbed to a banking panic that had taken down Silicon Valley Bank two months earlier.  As important lenders to the wine industry, the failure of these two banks had an immediate impact on business activity.  Fortunately, the contagion was quickly contained, SVB was acquired by First Citizens Bank and FRB was acquired by JP Morgan Chase.  Mark talks about his decision to return to SVB as Managing Director in its Wine Division.  Carol and Mark also discuss the role of banking in the wine industry, how to manage your banking relationship, and how to be successful in the wine business.

https://www.svb.com/industry-solutions/premium-wine-banking/

Sponsor: Global Wine Partners https://www.globalwinebank.com/

Music: Nate Collison

Logo Photography: John Corcoran