Anthony Dechellis News Today

The CEO of SVB Private Bank discusses how RIAs can expand through organic and inorganic strategies.

Across the country, banks of all sizes are investing in the wealth business as a way to deepen customer relationships, capture recurring revenues and tap into a massive transfer of wealth from baby boomers to Generation X and millennials. A lot of money is up for grabs, but maybe not enough to go around.

Across the country, banks of all sizes are investing in the wealth business as a way to deepen customer relationships, capture recurring revenues and tap into a massive transfer of wealth from baby boomers to Generation X and millennials. A lot of money is up for grabs, but maybe not enough to go around.

Shortly after, HoldCo Asset Management, which owns 4.9% of Boston Privates shares, protested the acquisition. The investor claimed the price was too low for a regional bank, and was prompted largely by Boston Private executives misguided pursuit of a wealth management strategy which HoldCo principals called "a pipe dream." HoldCo felt Boston Private’s shares should have been valued at $13.50 to $17 instead of the $11.50 price it saw the day after the sale was announced.  Proxy adviso...

The leadership at Boston Private Financial Holdings wanted to establish a wealth management partnership with SVB Financial Group — but ended up striking a deal to sell the company to SVB instead.

SVB Financial Group (NASDAQ: SIVB), the parent of Silicon Valley Bank, is to acquire Boston Private Financial Holdings, Inc. (NASDAQ: BPFH), the parent company of Boston Private Bank & Trust Company, a provider of integrated wealth management, trust and banking services to individuals, families, businesses and nonprofits. Under the terms of the merger agreement, Boston Private shareholders will receive 0.0228 shares of SVB common stock and $2.10 of cash for each Boston Private share they o...

Acquiring Boston Private could put the parent company of Silicon Valley Bank years ahead of schedule in catering to the investment needs of high-tech and biomedical clients, whose industries have thrived during the pandemic.