Silicon Valley Bank’s investment banking arm explores buying firm back -Bloomberg News By Reuters1 min read
© Reuters. A notice hangs on the door of Silicon Valley Bank (SVB) located in San Francisco, California, U.S. March 10, 2023. REUTERS/Krystal Hu
(Reuters) – The managers of Silicon Valley Bank’s investment banking arm, SVB Securities Management, are exploring ways to buy the firm back from its parent, Bloomberg News reported on Saturday, citing people familiar with the matter.
The head of SVB Securities, Jeff Leerink, and his team are seeking help to finance a potential management buyout of the business, the report said, adding that they are rushing to do a speedy deal as regulators seek a buyout for the remnants of SVB Financial Group.