Salem Radio Network News Friday, March 24, 2023


Silicon Valley Bank’s investment banking arm explores buying firm back -Bloomberg News

(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.

(Reporting by Kanjyik Ghosh in Bengaluru; editing by Grant McCool)


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