The group, led by SVB Securities CEO Jeff Leerink and backed by The Baupost Group, will acquire SVB Securities for a combination of cash, repayment of an intercompany note, assumption of certain liabilities and a 5% equity instrument in the buyer entity, SVB Financial Group. The securities branch will then be rebranded as Leerink Partners.
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SVB Financial to sell SVB Securities to management team
“The management team and I are excited to return to our heritage of owning and leading the premier health-care investment bank and relaunching the business under the trusted Leerink Partners brand,” Leerink said in a
