Bloomberg Law
March 11, 2023, 12:10 PM

SVB’s Auction Block Includes VC-Focused Lender, Wealth Unit

Dan Reichl
Dan Reichl
Bloomberg News

As US regulators seek a buyer for the remnants of SVB Financial Group, they’ll be working to find a home for sprawling commercial-banking operations, a wealth unit, an investment bank and a fund manager.

Silicon Valley Bank was seized by regulators Friday amid a run on deposits and an aborted push to raise capital. The Federal Deposit Insurance Corp. now aims to find buyers for the firm’s various businesses to return as much of clients’ money as possible.

Major banks are likely to at least explore purchasing SVB businesses given their manageable size and the attractive client base of ...