Boston, MA – March 11, 2023 – SVB Securities, a leading investment bank serving the innovation economy, announced today that the appointment of the Federal Deposit Insurance Corporation (“FDIC”) as receiver of Silicon Valley Bank will not directly impact the broker-dealer’s business operations, which continue uninterrupted under the management of SVB Securities leadership team.
Since its acquisition in January 2019 by SVB Financial Group, the parent of Silicon Valley Bank, SVB Securities has maintained its financial and operational independence and has operated largely autonomously as a standalone subsidiary. The firm has a strong client base and solid financial position, with a healthy balance sheet, significant excess net regulatory capital, and no outstanding debt.
SVB Securities is an industry leader and has been providing quality advice to its clients for three decades. The company has a proven track record of success, and its management team is confident in its ability to continue delivering best-in-class products and services to its clients.
In a statement released today, SVB Securities’ CEO Jeff Leerink said, “We understand that the receivership of Silicon Valley Bank has caused concern among our clients and stakeholders. We want to assure you that SVB Securities is financially stable and will continue to operate as usual. We remain committed to providing the same level of high-quality products and services that our clients have come to expect from us.”