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SVB Financial Group Sells Securities Division to Its Current Chief Executive
SVB Financial Group, the parent company of the now-defunct Silicon Valley Bank (SVB), announced yesterday (Sunday) the sale of its division responsible for investment banking. SVB Securities will be acquired by a group led by Jeff Leerink, using funds sourced from The Baupost Group.SVB Sells Securities BusinessLeerink, the Chief Executive of SVB Securities, is set to take over the investment banking operations in exchange for cash, a 5% equity instrument, and the repayment of an intercompany n...
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Posted: Jun 19 2023, 07:37
Author Name: financemagnates
Views: 081125