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SVB’s Auction Block Includes VC-Focused Lender, Wealth Unit

  • FDIC seeks asset buyers as it looks to repay depositors
  • Failed lender’s startup client base may attract suitors
Bloomberg business news
Reading into the SVB CollapsePhotographer: David Paul Morris/Bloomberg

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.

Silicon Valley Bank was seized by regulators Friday amid a run on deposits and an aborted push to raise capital. The Federal Deposit Insurance Corp. now aims to find buyers for the firm’s various businesses to return as much of clients’ money as possible.