SVB Financial Group Completes Acquisition of Boston Private

SVB Financial Group ("SVB") (Nasdaq: SIVB), the parent of Silicon Valley Bank, today announced it has completed the acquisition of Boston Private Financial Holdings, Inc. ("Boston Private"), the parent company of Boston Private Bank & Trust Company ("Boston Private Bank"), a leading provider of integrated wealth management, trust and banking services to individuals, families, businesses and nonprofits.

Boston Private is now part of SVB. The combined private banking and wealth management business will be led by Anthony DeChellis, CEO of SVB Private Banking & Wealth Management and Yvette Butler, President of SVB Private Banking & Wealth Management. The private banking and wealth management leadership team will now also include Jim Brown, Head of Specialty Commercial and John Longley, head of Private Bank, Wealth, Trust & Wine.

"With the close of our acquisition of Boston Private, we are well positioned to deliver the understanding, guidance and solutions to help our clients achieve their wealth goals," said Greg Becker, President and CEO of SVB Financial Group. "We're excited to welcome our new colleagues and clients to SVB and are appreciative of everyone at Boston Private and SVB who worked diligently to help us reach this milestone."

SVB's vision is to be the premier financial partner for the innovation economy, providing companies, entrepreneurs and their investors the services they need to succeed via four core businesses: commercial banking, investment banking, private banking and wealth management, and fund management. With the acquisition of Boston Private, SVB Private Banking & Wealth Management provides the guidance and solutions that fuel its clients to build wealth and expand opportunities for today and tomorrow.

The acquisition was previously announced on January 4, 2021 and SVB received regulatory approvals for the acquisition in May and June of 2021. In addition to the completion of the acquisition, today Boston Private Bank merged with and into Silicon Valley Bank, with Silicon Valley Bank continuing as the surviving entity.

About SVB Financial Group

For nearly 40 years, SVB Financial Group (Nasdaq: SIVB) and its subsidiaries have helped innovative companies and their investors move bold ideas forward, fast. SVB Financial Group's businesses, including Silicon Valley Bank, offer commercial 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-F]