Boston Private Financial Likely to Sell
Posted on 03/16/2023
SVB Financial Group, the parent of Silicon Valley Bank (SVB), acquired Boston Private Financial Holdings, Inc., the parent company of Boston Private Bank & Trust Company, in 2021 for around US$ 900 million.
Now that SVB is shut down, Boston Private would likely be sold off. Financial advisors within SVB’s wealth management unit were told that the company will be split into four pieces to be sold off separately, including the commercial bank, investment bank, wealth business, and SVB Capital, its fund manager focused on venture capital investments.