South Korea Tax Windfall Could Top 50 Trillion Won on Chip Boom 
U.S. Stock Futures Fall as Iran, Oil and AI Risks Rattle Markets 
Hong Kong Home Prices Stabilize in August After July Decline 
Nidec Shares Plunge on Report of $6.3 Billion Impairment Charge 
Germany’s 2026 Growth Outlook Strengthens on Fiscal Spending 
US Appeals Court Upholds Anthropic AI Supply Chain Ban 
US Stocks Face Jobs, Inflation Test as Fed Rate Hike Bets Rise 
RedotPay Completes Audits as Stablecoin Firm Advances U.S. IPO Plans 
Trump to Ease U.S. Fuel-Economy Standards 
Nvidia China Chip Sales Report Sends Chinese Semiconductor Stocks Lower 
FDA Approves Mirum’s Atebrioz for Rare Bone Disorder FOP 
Australia Budget Deficit Narrows to A$22.3 Billion on Stronger Tax Revenue 
ECB May Stop Rate Hikes After December, Capital Economics Says 
Europe’s AI Data Centre Boom Strengthens Case for Nuclear Power 
Dubai’s connectivity remains strong in an uncertain world 
China Industrial Profit Growth Slows as Weak Demand Offsets AI Gains 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Add as a preferred source on Google
SVB Financial Group announces the sale of its SVB Securities investment banking arm to its own management team, led by CEO Jeff Leerink. The deal is backed by The Baupost Group following SVB's bankruptcy filing in March.
SVB Financial Group confirmed the acquisition deal on Sunday, June 18. It announced that it has entered into an agreement with the management of SVB Securities for the sale. The buyer team is being spearheaded by Leerink and with funding support from The Baupost Group.
According to Reuters, Leerink is currently the chief executive officer of SVB Securities, and his group turned out to be the winning bidder for the buyout of SVB Financial's investment banking division. Under the agreement, the buyer will pay in a combination of three methods, including cash, repayment of an intercompany note, and a five percent equity instrument.
It was noted that the buyout agreement comes after the Federal Deposit Insurance Corporation (FDIC) took charge of the bankrupt Silicon Valley Bank three months ago as depositors rushed to withdraw their money. The effects of SVB's downfall were felt around the world, with smaller banks getting hit by the unfolding events.
"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," SVB Securities' chairman and CEO, Jeff Leerink, said in a press release. "Our firm has been a strategic advisor to our corporate and investor clients for almost three decades and this transaction allows us to continue to provide our healthcare clients with the highest quality advice and execution services they have come to expect for their M&A, capital raising, and investment needs."
He added, "I would like to thank our entire team for its incredible efforts over many years and particularly over the last few months. I also want to thank our valued clients for their continued loyalty and support."
Photo by: Mariia Shalabaieva/Unsplash
