Former SVB exec takes IQ-EQ CFO seat

Dive Brief:

Global investment firm IQ-EQ has tapped former Silicon Valley Bank senior executive Judy Wang as its next CFO, the company announced Tuesday in a release sent to CFO Dive.
Wang will be responsible for the firm’s newly expanded Americas and Caribbean division and succeeds Scott Hensell, who held the position for eight years before stepping down, the release said.
The CFO change comes on the heels of IQ-EQ’s acquisition of JGM Fund Services, which expanded New York-based IQ-EQ’s s U.S. footprint to 12 offices across eight states, the release said.

Dive Insight:

Before joining IQ-EQ, Wang spent nine years at the now failed Silicon Valley Bank — which was taken over by regulators in March — in senior leadership roles within the accounting and financial planning and analysis department, according to the release.

“I am thrilled to be joining IQ-EQ and to help continue the company’s strategy growth initiatives in the states,” said Wang on her appointment, “I am excited to apply what I have learned in banking over the years to the investor services side of things,” she said in the release.

Prior to her time spent at SVB, Wang has a decade of experience in financial leadership positions at Deloitte, the release said. Along with Wang, SVB has seen many other individuals who were a part of its senior leadership step down in recent months. Back in April, former CFO Daniel Beck and ex-CEO Gregory Becker stepped down, according to an April 21 filing.

Since the bank’s closure, class action lawsuits from investors started piling up against the parent company SVB Financial Group, Becker and Beck. Judge James Donato of the U.S. District Court Northern District recently rescheduled a hearing on a motion to consolidate several of the proposed class-action suits from this week to Sept. 21, CFO Dive reported Wednesday.