SVB Financial Group was a financial services holding company best known as the parent of Silicon Valley Bank, which specialized in serving companies, venture capital and private equity firms, and other participants in the innovation economy. Its banking activities included commercial and private banking, business lending, deposit accounts, treasury management, and other financial services for technology, life sciences, healthcare, and related businesses.
Through its subsidiaries, SVB Financial Group also provided investment banking, securities, wealth management, and investment services. The group operated primarily in the United States and maintained an international presence supporting clients and investors in innovation-focused markets, including the United Kingdom and other selected global financial centers.
Silicon Valley Bank was closed by regulators in March 2023, and the Federal Deposit Insurance Corporation was appointed receiver. First Citizens BancShares subsequently acquired substantially all of the bank’s deposits and loans. SVB Financial Group filed for Chapter 11 bankruptcy protection in March 2023, and its former chief executive officer was Greg Becker. The company’s remaining activities have centered on the bankruptcy and wind-down of its former businesses rather than ongoing commercial banking operations.
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