SVB Financial Group (SVB), the parent company of Silicon Valley Bank, has completed the acquisition of Leerink Holdings LLC, a Boston-based parent company of healthcare and life science investment bank Leerink Partners.
Leerink will operate under the name SVB Leerink as a wholly-owned subsidiary of SVB Financial Group, led by Jeff Leerink, CEO of SVB Leerink; James Boylan, President and Head of Investment Banking; and Joe Gentile, Chief Administrative Officer. With the acquisition of Leerink, SVB complements its commercial banking and lending products with a full range of investment banking services focussed on healthcare and life science companies.
SVB acquired Leerink for USD280 million in cash up front to the unitholders and, in addition, will provide a retention pool for employees of USD60 million to be paid over five years. The acquisition was previously announced on 13 November 2018.
