SVB Financial Group Acquires Technology Equity Research Firm MoffettNathanson LLC

Rhea-AI Summary

SVB Financial Group announced on December 13, 2021, its acquisition of MoffettNathanson LLC, a leading independent sell-side research firm based in New York. This strategic move aims to enhance SVB's investment banking division, SVB Leerink, by expanding its research coverage to include healthcare and technology sectors. MoffettNathanson is recognized for its expertise in high-growth, disruptive companies, positioning SVB as a pivotal partner in the innovation economy. The acquisition reflects SVB's commitment to strengthening its capabilities and providing deeper insights into key market trends.

Positive

• Acquisition of MoffettNathanson enhances SVB's research capabilities in technology and healthcare.
• MoffettNathanson has a strong reputation and proven expertise in technology equity research.
• The acquisition is expected to solidify SVB's role as a critical partner in the innovation economy.

Negative

• None.

SANTA CLARA, Calif., Dec. 13, 2021 /PRNewswire/ -- SVB Financial Group ("SVB") (NASDAQ: SIVB), the parent of Silicon Valley Bank, today announced its continued expansion into technology investment banking with the acquisition of MoffettNathanson LLC, a New York-based independent sell-side research firm known for its coverage of high-growth, disruptive companies in the Media, Communications and Technology sectors. The acquisition enables SVB's investment banking business, SVB Leerink, to expand its research coverage to include companies in both the healthcare and technology industries.  

SVB serves the world's most innovative companies and their investors via commercial banking with Silicon Valley Bank, investment banking with SVB Leerink, private banking and wealth management with SVB Private Bank, and funds management and investment with SVB Capital.  

"The MoffettNathanson team has built an incredible reputation as a leader in equity research," said Greg Becker, President and CEO of SVB Financial. "The addition of technology equity research is another important step in further solidifying our place as the essential partner to innovation economy clients. I'm proud to welcome the MoffettNathanson team to SVB and continue to strengthen the capabilities of our investment banking practice." 

Since its founding in 2013, MoffettNathanson has been considered the standard-bearer for technology equity research. As the firm has grown, it has added coverage of the Media, Communications, Internet, Fintech, Software and Services sectors. MoffettNathanson's Senior Research Analysts Craig Moffett, Michael Nathanson and Lisa Ellis have each repeatedly been ranked the #1 analyst in their respective sectors by the Institutional Investor All-America Research Team, as well as by other leading surveys of institutional investors.  

"Insight into the innovation economy is absolutely critical to understanding the sectors we cover," said Craig Moffett, founding partner, MoffettNathanson. "SVB's deep relationships with the world's leading innovators will not only bring our clients unique opportunities to participate in the value creation cycle of earlier-stage growth companies, they will also provide our analysts with unique insights into the competitive forces that will shape the destinies of the largest companies in our coverage universe." 

"I am incredibly proud of the firm's success and momentum, which has enabled us to accelerate the addition of tech equity research and to attract the highly regarded MoffettNathanson team," said Jeff Leerink, CEO of SVB Leerink. "We are entering an exciting chapter in our firm's history and we look forward to growing and evolving to meet our clients' needs." 

  SVB's Technology Investment Banking team has demonstrated strong momentum and growth, with additional hires in the Internet, Consumer / Marketing Software, Fintech, and Enterprise Software sectors since the formal launch of Technology Leveraged Finance, Equity Capital Markets, M&A, and Private Placements capabilities in September 2021. Earlier this month the team announced several transactions including Clearlake Capital's pending acquisition of Quest, Noregon Systems, Inc.'s sale to The Hearst Corporation, the pending merger of Mavenlink and Kimble Applications, Evergreen Coast Capital Corp's pending acquisition of a majority stake in DreamBox Learning, Cinven's pending investment in Nitel, Blackstone's pending significant investment in Renaissance, PassFort's sale to Moody's, and TPG Capital's recapitalization of Entertainment Partners.   

About SVB Financial Group 
SVB Financial Group (NASDAQ: SIVB) and its subsidiaries help innovative companies and their investors move bold ideas forward, fast. SVB Financial Group's businesses, including Silicon Valley Bank, offer commercial, investment and private banking, asset management, private wealth management, brokerage and investment services and funds management services to companies in the technology, life science and healthcare, private equity and venture capital, and premium wine industries. Headquartered in Santa Clara, California, SVB Financial Group operates in centers of innovation around the world. Learn more at svb.com. 

SVB Financial Group is the holding company for all business units and groups © 2021 SVB Financial Group. All rights reserved. SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, MAKE NEXT HAPPEN NOW and the chevron device are trademarks of SVB Financial Group, used under license. Silicon Valley Bank is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group. [SIVB-C] [SIVB-F] 

About SVB Leerink 
As a leading investment bank serving the innovation economy, SVB Leerink helps its clients move healthcare and technology forward. With differentiated sector knowledge, deep expertise, and an extensive suite of capital market and advisory solutions, the firm is the innovation economy's partner of choice. SVB Leerink is a wholly-owned subsidiary of SVB Financial Group and is a member of FINRA/SIPC. Learn more at svbleerink.com. [SIVB-L] 

About MoffettNathanson LLC 
MoffettNathanson was founded in 2013 by industry veterans Craig Moffett, Michael Nathanson, Pat O'Connell, John Towers and Ethan Steinberg, originally focusing exclusively on providing best-in-class Media & Communications research. The firm expanded its coverage three years ago when Lisa Ellis joined to build the Payments, Processors, and IT Services vertical. MoffettNathanson has been a leader in the development of Wall Street's subscription-based payment model, which allows the firm's clients to manage their research budgets more effectively by paying only for the research they prefer, while separately seeking best-execution trading. Learn more at moffettnathanson.com.   

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SOURCE SVB Financial Group

FAQ

What is the purpose of SVB Financial Group's acquisition of MoffettNathanson?

The acquisition aims to enhance SVB's investment banking services and expand research coverage into healthcare and technology sectors.

How will the acquisition impact SVB Financial Group's services?

It will strengthen SVB's investment banking practice and improve insights into the innovation economy for its clients.

When was the acquisition of MoffettNathanson announced by SVB?

The acquisition was announced on December 13, 2021.

What sectors does MoffettNathanson specialize in?

MoffettNathanson is known for its coverage of Media, Communications, Internet, Fintech, Software, and Services sectors.

What is the stock symbol for SVB Financial Group?

The stock symbol for SVB Financial Group is SIVB.