Home > NewsRelease > Joele Frank Handles SVB Financial's Bankruptcy
Joele Frank Handles SVB Financial's Bankruptcy
O'Dwyer's Public Relations News O'Dwyer's Public Relations News
For Immediate Release:
Dateline: New York, NY
Friday, March 17, 2023


Joele Frank is handling the bankruptcy filing for SVB Financial, a restructuring designed to preserve the value of its venture capital platform and regulated broker-dealer units.

Silicon Valley Bank, which was shut down by federal government, is no longer affiliated with SVB Financial. The Federal Deposit Insurance Corp. oversees Silicon Valley Bridge Bank.

SVB Financial estimates It has $2.2B in liquidity flowing from SVB Capital, SVB Securities and cash.

The Chapter 11 filing provides some financial protection for SVB Financial as it explores strategic options for SVB Capital and SVB Securities, which CEO William Kosturos calls “prized businesses and assets.”

“SVB Capital and SVB Securities continue to operate and serve clients, led by their longstanding and independent leadership teams,” said Kosturos.

Joele Frank, Wilkinson Brimmer Katcher’s Michael Freitag, Jed Repko and Aaron Palash work the media for SVB Financial’s reorganization.

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