SVB Asset Management

SVB Asset Management was a division of Silicon Valley Bank, which entered FDIC receivership in March 2023. First Citizens Bank acquired the bulk of SVB's assets and business lines, including the wealth and asset management operations, later that month (per FDIC, March 2023). The current entity status, brand continuity, and team composition under First Citizens ownership are not detailed in recent public disclosures.

Client relationships mirrored Silicon Valley Bank's broader commercial and venture-debt franchise: corporate treasurers at technology and life-science companies, venture capital partnerships, and private equity sponsors. The group served a concentrated ecosystem of cash-rich innovation-economy firms that prioritized principal preservation and same-day liquidity.

Segregated separately managed accounts were generally held in client name with third-party custodians and were not consolidated into the bank's general corporate assets. The FDIC receivership process and subsequent sale to First Citizens Bank transferred the operational servicing of those mandates, but the specific portfolio disposition, mandate retention rate, and any client withdrawals following the crisis are not a matter of public record.