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Silicon Valley Bank just made an even bigger push into wealth management
1 month ago | By Tech Crunch
SVB Financial Group agreed today to buy Boston Private Financial Holdings in Boston for $900 million in cash and stock.
It's a big deal for SVB, which has earned a reputation over its 37-year history as a bank that's friendly to startups, as well as venture and private equity investors. Boston Private, founded in 1987, has roughly $ 16.3 billion in assets under management, compared with SVB Asset Management's $1.4 billion in related assets.
SVB, which formed its wealth advisory business in 2011, has been pushing more aggressively into wealth management for several years, hiring Yvonne...
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