Svb Leerink thoughts

My gosh, the amount of posts on this is crazy. Yes they acquired a good HC bank and a bunch of good tech bankers. Personally think they are kinda late to tech but whatever, I’m sure they’ll do well. A lot is TBD. What else is there to say?

They've been on a hiring spree and the HC team just hired the Co-head of HC M&A from Barclays. Definitely seems to be a place that is growing fast

You couldn’t….read all the comments you referenced where this is discussed ad nauseam? Needed a thread of your own?

Bump. Would like to learn more about Svb

If I’m a prospect/intern, I really don’t give much value to the “growing fast, rising” argument if you’re going to the buy side in 2 years. Would probably be much better off at an already-established name. 
 

for an a2a hopeful, yeah, value in the upside 

SVB has literally all tech and life science clients currently so they're definitely not late to the game. The reality is over the last couple decades, SVB constantly loses the clients they helped bring up from the pre-revenue stage immediately once they grow into IPO / Later stage companies. With the growing corporate banking team, m&a advisory/LevFin/Cap Markets/ER groups, the play here is for SVB to be a one stop shop for startups AND sponsors all the way from the beginning when they just need credit cards and runway extension products all the way to when they get big enough to needing large-scale revolvers, acquisition financing, and advisory 5-10 years down the road. ~2/3s of tech/life science companies that IPO'd the last couple years banked with SVB at some level. How many founders of those companies would choose to stick with the bankers that have supported them since the beginning than leave for GS/MS if SVB DID have the capabilities to do what the big boys do? I don't know the answer but the synergies and pipeline are definitely in place so it's worth trying. SVB did shutter it's old IB practice in the mid 2000s so who knows if history repeats itself or not.

Disclaimer: I work at SVB. I don't get paid nearly as much as what the Leerink guys will get paid so I don't really care too much, but it's nice being at a company that is making some waves

Cool to see them expand into tech and poach the UBS bankers (which I believe is one of the better groups at UBS). That definitely helps their rep and if you go there youll get dealflow at a reputable shop with at least some exit options in PE and others available to you like any other non-EB boutique like FT Partners, MTS Health Partners, Cain, Marathon, etc. (HC-specific opps if you go that route as them and MTS are known as banks for HC nerds only, maybe a bit more optionality on the tech side).

From the HC deals they had before this though most seem mostly lower middle market maybe middle market at best, but maybe that is just because of how smaller drugs get acquired up by medium players then the medium players get acquired by the big players before any of these things even come to market. We will need to see what tech deals they close before we can really make an assessment there. 

Jefferies vs. SVBL?