- SVB Leerink has hired a team of technology, media, and telecom bankers from UBS.
- SVB poached Jason Auerbach, UBS’ cohead of TMT, and several others, sources told Insider.
- It’s the latest in a string of hires for SVB, which has been expanding its investment bank.
- See more stories on Insider’s business page.
SVB Leerink has hired a team of technology, media, and telecommunications investment bankers from UBS, including group head Jason Auerbach, as the upstart dealmaking operation continues its rapid expansion.
The Boston-based dealmaking unit, a subsidiary of SVB Financial Group, is expanding the breadth of its investment banking capabilities by hiring a team of UBS TMT bankers, according to sources familiar with the matter.
Jason Auerbach, global cohead of UBS TMT investment banking group, has resigned to join SVB Leerink along with several other senior TMT bankers in his group, the sources said.
UBS declined to comment. SVB Leerink did not immediately respond to requests for comment.
SVB Leerink, which was formed in 2018 when SVB acquired Leerink, is a healthcare and life sciences focused investment banking boutique, but it’s angling to expand its remit. It’s been on a hiring spree this year, including poaching Barry Blake as cohead of investment banking and Robert Minear as a senior managing director in healthcare and technology banking, both from Guggenheim Securities.
Auerbach, who was promoted to global cohead of TMT last July, is among a team of four TMT bankers that joined UBS from Jefferies in 2015. The most senior of that group was Paul Crisci, who was promoted last year to global head of private capital markets and chairman of TMT.
Crisci, who’s a member of the global banking management committee, will run the TMT group from San Francisco on an interim basis, along with London-based cohead Christian Lesueur.