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SVB Financial reaches deal to sell its investment banking unit

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SVB Financial Group said Sunday it has reached an agreement to sell its investment-banking division to a group led by the unit's CEO, Jeff Leerink, and...

SVB Financial Group said Sunday it has reached an agreement to sell its investment banking division to a group led by the unit’s chief executive, Jeff Leerink, and backed by The Baupost Group.

“The... SVB Financial Group said Sunday it has reached an agreement to sell its investment banking division to a group led by the unit’s chief executive, Jeff Leerink, and backed by The Baupost Group. “The management team and I are excited to return to our heritage of owning and leading the premier healthcare investment bank and relaunching the business under the trusted Leerink Partners brand,” Leerink said in a statement.

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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.
Source: Reuters - 🏆 2. / 97 Read more »