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SVB agrees to sell its investment banking division

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SVB Financial Group entered into an agreement Sunday to sell its investment banking division several months after the collapse of Silicon Valley Bank.

In this photo illustration of the TradingView stock market chart of SVB Financial Group seen displayed on a smartphone with the SVB Financial Group logo in the background.SVB Financial Group said on Sunday it has entered into an agreement to sell its investment banking division, SVB Securities, to a group led by Jeff Leerink and backed by funds managed by The Baupost Group.

Moffett Nathanson, the company's research business, was not included in the transaction, the collapsed lender said, adding that it will remain a part of the company.in March after depositors rushed to pull out their money in a bank run that wiped out more than half the market value of several U.S. regional lenders and triggered the worst banking crisis since 2008.

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SVB agrees to sell its investment banking divisionSVB Financial Group said on Sunday it has entered into an agreement to sell its investment banking division, SVB Securities, to a group led by Jeff Leerink and backed by funds managed by The Baupost Group.
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