The Future of SVB Securities
With it being around a month since SVB's Commercial Bank was put into Receivership what do you believe the fate of the investment banking arm, SVB Securities, will be? Is there any new information surrounding potential acquirers?
Bids were due last Friday I believe(saw in an article). Probably announced soon
Moelis & Co. hired Jason Auerbach, global co-head of investment banking (head of tech banking) at SVB Securities. SVB Securities senior managing directors Bob Casey and Chris Montgomery, technology investment bankers who moved with Auerbach to SVB from UBS, also resigned Monday, said people with knowledge of the matter. What is going on?
Whole tech team is moving to moelis.
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That’s hardly the whole tech team but yeah those other two are probably going with Auerbach
What are you confused about? A failed bank with a huge black eye and a bunch of guys that got fucked out of deferred compensation is going to lose top talent to other firms.
No chance they’re taking the juniors
They're joining a small office that's known to be pretty sweaty already. Who do you think is gonna execute 2 extra MDs worth of deals?
Edit: It's now like the whole group. GOMD
They’re gonna take 50-55 juniors?
s
It's a good pick-up by Moelis. SVB Tech (nearly all ex-UBS) wasn't a strong group by any means, but they found their niche doing MM-UMM sponsor sell-sides and that's where Moelis's bread and butter is as a firm, but Moelis SF Tech traditionally hasn't been the strongest in that niche.
Will this leave all the incoming tech analysts without a job?
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