- US regulators seek buyer for SVB Financial Group to return clients' money.
- Major banks likely to explore purchasing SVB businesses due to attractive client base of tech firms and wealthy founders.
- SVB suffered from piling into bonds just before rates rose and concentrated depositor base.
- FDIC aims to issue advance dividend to uninsured depositors within next week.
- SVB holds $212 billion in assets with more than 8,500 employees worldwide.
SVB’s Auction Block Includes VC-Focused Lender, Wealth Unit
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.
Dan Reichl
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