SVB Investment Services

First Citizens Bank acquired SVB Investment Services as part of the FDIC-assisted purchase of Silicon Valley Bank's assets in March 2023. The wealth management division, including client accounts and investment mandates, transferred to First Citizens' wealth platform. The transaction preserved continuity for clients whose assets were held in managed portfolios through the registered investment advisor.

The unit leveraged Silicon Valley Bank's core commercial relationships — the parent bank provided lending, treasury management, and credit facilities to roughly half of all US venture-backed startups and their venture capital firms. This institutional proximity gave SVB Investment Services early visibility into fund manager performance and preferential access to capacity-constrained top-quartile venture funds (public record). The platform constructed fund-of-funds portfolios, direct co-investment vehicles, and separately managed accounts for qualified clients.

No. After First Citizens Bank's acquisition in March 2023, the SVB wealth management operations were integrated into First Citizens' broader wealth division. While First Citizens retained the Silicon Valley Bank brand for commercial banking operations, the investment services unit no longer operates as a distinct standalone entity under the SVB Investment Services name.

The platform allocated across venture capital fund commitments, private equity funds, private credit strategies, real assets, and fixed-income portfolios. The venture capital allocation was the firm's distinguishing exposure, drawing on SVB's lending relationships with hundreds of venture firms across seed, early-stage, and growth-equity strategies. Public reporting indicated total client assets under management of approximately $9 billion before the 2023 receivership (public record).

Primary clients included venture capital and private equity general partners, technology and life sciences company founders, and senior executives who banked with Silicon Valley Bank. The wealth management division also served institutional investors seeking venture capital fund exposure through fund-of-funds structures and co-investment programs. The client base concentrated heavily in the San Francisco Bay Area and other US innovation hubs.