On June 19, it was reported that Silicon Valley Bank (SVB), the parent company of Silicon Valley Bank Financial Group (SVB Financial Group), had agreed to sell its investment banking unit, SVB Securities (SVB Securities).。Under the agreement, Silicon Silver Financial will sell its investment banking business to a bidding group led by Jeff Leerink and backed by Baupost Group (Baupost Group), and a hearing on the proposed deal will be held in 10 days.。

Silicon silver investment banking sector "return to the original owner"

It is worth noting that, prior to this agreement, Lillink had been CEO of the investment banking division, which was established with a deep connection to Lillink.。

According to the official website of Silicon Valley Bank, in 1995, Lillink pioneered the creation of the personal investment banking brand Leerink Partners, which focuses on healthcare investments and provides equity research and M & A expertise.。In 2019, the brand was acquired by Silicon Valley Bank Financial Group to become the group's investment banking arm, known as SVB Securities, which is still led by Lilink.。It can be said that Leerink Partners is the predecessor of SVB securities.。

It is understood that the sale plan is still led by Lillink and his team, the team wants to use a combination of inter-company note repayments, cash, and 5% equity instruments to buy back the investment banking business.。If the buyback is successful, the investment bank will continue to use the Leerink Partners name, quite a bit of a return to the original owner.。

In addition, according to relevant sources, the MoffettNathanson research business, which was originally classified as SVB securities, will not be sold with it.。The research business was established in 2013 to publish industry-leading industry research reports to a select group of Wall Street clients.。Previously, MoffettNathanson's research focused on the media and communications fields, but now the scope of research has expanded to the payment field, the processor field and the IT services field, which has been influential in the industry.。

Silicon Valley Bank's German business seeks tender

Worldwide, assets of Silicon Valley banks are also being sought for sale。On Friday, media reported that US banking regulators had officially launched the sale of the German operations of the defunct Silicon Valley bank.。The Federal Deposit Insurance Corporation (FDIC) is seeking market bids for Silicon Valley Bank's German business assets, which include its 4.Bid for $600 million portfolio of loans, leases and other assets, with a deadline of July 19 for bids。

It was also noted that the bidding exercise imposed a mandatory requirement on the qualifications of bidders, i.e., bidders must be authorized to lend in the German market.。Current bidders are likely to include a bank already licensed to operate in Germany, the European Union and the European Economic Area (EEA) countries, or a non-EEA licensed bank with a German branch.。

In March, Silicon Valley Bank was unable to cope with its customers' sharply rising liquidity needs as bond values were significantly eroded by rising interest rates, causing panic among depositors after the announcement of the emergency funding plan, suffering a severe run crisis and becoming the first domino to fall in the banking crisis.。On March 10, the California Department of Financial Protection and Innovation (DFPI) announced the closure of Silicon Valley Bank and appointed the FDIC as the bankruptcy administrator.。According to the DFPI takeover order, at the close of business on March 9, Silicon Valley Bank's cash balance was negative 9.$5.8 billion。

In the aftermath, the British branch of Silicon Valley Bank was sold to HSBC for £1 the same weekend as Silicon Valley Bank's collapse and has now been renamed HSBC Innovation Banking.。In addition, most of Silicon Valley Bank's U.S. operations were already sold to First Citizen Bank at the end of March, but the German operations, which it operates as a branch, remain with the FDIC.。

The FDIC said the sale marked its latest move to resolve the failed bank in an "orderly and gradual manner."。