![]() ![]() "Is there a book 'How to Build a Bank for Dummies?'" ![]() "How in the world do you do that?" the bank’s CEO DePaolo said. "From scratch?" John Tamberlane, the bank's vice chairman, replied adding: "You gotta be kidding". "Look, the only way we are going to do this thing is if we start a bank from scratch," co-founder Shay tells the others. The video begins with the top bosses and executives getting ready in the dressing room for the shoot. The nearly 2-minute long clip features co-founder Scott Shay, CEO Joseph DePaolo where people tell them setting up a bank was the “stupidest idea”. Genevieve Roch-Decter, CFA March 13, 2023 The execs also tried their hands at a comedy sketch/musical combo. I'm speechless.” She also said that the management spent millions on such videos. Substack blogger and money manager Genevieve Roch-Decter shared the around nine-year-old video on Twitter saying: “The execs also tried their hands at a comedy sketch/musical combo. Now, an old promotional video of Signature Bank co-founder, CEO and others talking about setting up a new bank has surfaced online where the boss assures that the bank will never fail and that it would be “built to last and enthrall”. Signature Bank, formed in 2001, was shut down by New York-based lender regulators before being taken over by the Federal Deposit Insurance Corporation (FDIC), the agency in the US that insures bank deposits. The panic around the collapse of the Silicon Valley Bank in the US led to another bank’s doors being closed days after as the largest banking failure in the retail industry since the 2008 financial crash shocked investors and lenders alike.
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