People familiar with the matter: JPMorgan and PNC are in talks to buy part of SVB Financial Group

JPMorgan and PNC are potential buyers in talks to acquire SVB Financial Group, a deal that would exclude Silicon Valley Bank, which is currently controlled by the U.S. government, Axios reported, citing people familiar with the matter. In addition to the Silicon Valley banking business, SVB Financial Group also has three departments: asset management, private wealth management and securities business. Apollo Asset Management and Morgan Stanley are also involved in discussions, and Apollo’s interest is expected to focus on financing the deal or acquiring parts of the business, the sources said.

Babbitt News

Related Posts

Cryptocurrency Price Predictions: Tron, Optimism, Stacks (STX)

Cryptocurrency prices were mixed, with major coins like bitcoin trading sideways. Meme coins like Pepe and Floki Inu soared after listing on Binance. Cryptocurrencies were relatively mixed this week, as Bitcoin remained stubbornly below $30,000, while Ethereum held below $2,000. Meme tokens…
Read More