SVB Financial is betting that the technology sector’s strong run of high-priced acquisitions and lofty initial public offerings will continue.
The parent company of Silicon Valley Bank recently added 10 senior executives who specialize in technology to its investment banking arm and plans to add more bankers by the end of the year. SVB hopes to retain its tech sector clients as they grow and start to require more complex investment banking needs, CEO Greg Becker said.
“We already have the relationships and trust and connectivity with the companies that will want to go public at some point,” Becker said.
“We’re making sure we have a broad enough capability to cover M&A, equity capital markets, research,” said SVB Financial CEO Greg Becker, “so we can cover anything a tech company could want.”
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Bloomberg
SVB Financial moved into investment banking for health care and life sciences firms in 2018 when it bought Boston-based Leerink Partners. Earlier this year, the $ 163 billion-asset company bought Boston Private Financial Holdings to build out its private banking and wealth management capabilities.