This story was told by Diana Sánchez at a private event for Elektra.

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Diana opened up for the first time about an experience she lived through in a deeply public way... but emotionally in silence. 

This is a well-known story about the fastest collapse of a bank in US history, but experienced from the inside.

Continue reading to learn more about their story...

- Eric, General Manager of Fuckup Nights Global

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👤 Who.

Born in Cuba, raised in New York, and educated in Miami, Diana Sánchez built a two-decade career in the financial world, working at seven institutions including JP Morgan, Citi, and HSBC. Throughout her career, she has pursued a simple yet powerful idea: that the future is built at the dynamic intersection of technology, innovation, and people.

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She recently led the global adoption of AI for a workforce of 230,000 people at HSBC. Today, as Senior Director Analyst at Gartner, she studies how AI is redefining work and talent decisions. She is co-founder of La Tribu, a space that promotes the professional and spiritual development of women leaders.

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FuN: What's your personal definition of failure?

Diana: When someone tells you that you can't do something, and you believe them.

FuN: What was your life like before taking on this new challenge?

Diana: After working in corporate banking, I was looking for something more creative, closer to people, and transformative.

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That's when a super cool bank appeared: Silicon Valley Bank. I had been hired to open the operation in Miami. I was at what many people would call the top. 

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At that time, the city was booming as an innovation hub: unicorns, millions in VC, talent migrating, founders everywhere. It was my dream: banking, technology, and community all in one place.

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I put together a team of 10 people, and a year later we grew our portfolio from zero to $150 million in organic deposits. I had autonomy, impact, budget, team... and incredible energy all around me. 

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And I did it while I was pregnant. Even though my legs hurt, I had to swap my glass of wine for water at events and my high heels for sneakers, but I was really too busy succeeding. I felt fulfilled.

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In September, I went on maternity leave, completely disconnected from my professional life, focusing on my little baby. I was confident that the foundations were solid.

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💣 The True F*up

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Diana: On March 9, 2023, I received a message from my former boss asking me if I was "okay." It wasn't until later that I realized what he meant.

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The bank's customers had withdrawn more than $42 billion in just 36 hours. The bank collapsed at a record speed in US history.

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The bank didn't have a Chief Financial Officer for several months, which was a big mistake for a bank of that size. They thought that with all the capital they had, there was nothing to worry about if interest rates suddenly rose. And that's what happened.

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Customers began to sense some turbulence. In addition, Peter Field, a multimillionaire venture capitalist, had spread the word among entrepreneurs to withdraw their money, and that's what they did. They had left the bank completely without liquidity.

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Customers who hadn't been able to withdraw their money were desperate; it was payday Friday. My team was panicking. Twitter was on fire and headlines were exploding.

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There were colleagues with 20 years at that bank who had lost all their savings and stocks. And they also had to calm things down with their teams and clients.

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I will never forget that day because, what's more, the next day I was returning from my maternity leave.

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FuN: How was your return to the office?

Diana: The following Monday, no one called. It was as if someone had died.

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Usually, those days were always filled with emails, calls, conversations, and events. But no, all that was over. And the silence of failure made me wonder: who am I without success?

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Suddenly, I didn't feel proud of what I was doing or representing. In that pause between the explosion and the crisis, we have to ask ourselves questions that hurt and make us uncomfortable. But that's where we're really going to find who we are.

FuN: How was the situation resolved?

Diana: Monday was a day of silence, Tuesday was a day of doubt, and on Wednesday I decided to take action. I was the only banker in that place who had gone through a similar collapse in my previous years of experience.

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I spoke with my clients and apologized, not because I as a person had done anything wrong, but because I represented a whole that had failed.

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I took on the role of counselor and motivator. I told the remaining employees that this crisis would pass. I was there for anyone who needed to talk and be heard.

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Today, SVB continues to thrive. They have excellent products and know their customers very well, which is what makes them so human. They are easy to understand and have products that truly meet their customers' needs.

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💡 In Conclusion.... 

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1. My true asset is myself: I am not my achievements, nor my failures. My asset is my strengths.
   
   
2. Creativity, authenticity, and resilience beat a resume: They get you out of a tight spot and are what people truly value in you.
   
   
3. Everything passes: Although it sounds very simple, I think that sometimes we don't believe it. We think that it is static or that sadness seems to be permanent. But everything passes.
   
   
4. Don't let failure or success go to your head: Try to be that person you found during that period of crisis or doubt.

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Connect with Diana! 

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Remember, our channels are open for questions, complaints, feedback or collaborations at: rich@fuckupnights.com.

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