SVB Financial Group, the parent of IBOS member Silicon Valley Bank (SVB), has announced that it will acquire Boston Private Financial Holdings, Inc. (Boston Private), a leading provider of integrated wealth management, trust and banking services to individuals and companies.
IBOS member SVB is one of the world’s most innovative banks and companies, and together with Boston Private, this merger marks a significant step for the economy and innovation.
SVB’s vision is to be the premier financial partner for the innovation economy, providing companies, entrepreneurs and their investors the services they need to succeed via four core businesses: commercial banking, investment banking, private banking and wealth management and fund management.
The acquisition of Boston Private accelerates SVB’s private bank and wealth management offering, strengthening SVB’s overall platform and ability to fully meet the financial needs of its clients.
With Boston Private’s product suite and recently redesigned technology platform, SVB can expand its existing wealth management solutions, which include complex strategies to manage concentrated stock positions, to add tax planning, trust services, philanthropy and estate planning, while offering a significantly improved digital client experience.
Read the full press release via SVB here.