The Silicon Valley-Boston Private tie-up marks the opening salvo in 2021 mergers and acquisitions.
In a conference call with analysts, Silicon Valley Bank CEO Greg Becker said he was drawn to Boston Private for its reputation, technology and team.
SVB touted Boston Private’s recently redesigned technology platform as a net gain in the deal, and plans to adopt Boston Private’s digital platforms, American Banker reported. Additionally, Boston Private’s product suite allows SVB to expand its wealth management options to include tax planning, trust services, philanthropy and estate planning, according to the press release.
