Piper Sandler tapped by FDIC to relaunch sale of SVB, Reuters reports

Piper Sandler (PIPR) has been selected by the FDIC to relaunch the sale of failed lender Silicon Valley Bank (SIVB), Reuters’ David French reports, citing people familiar with the matter. Regulators took SVB over last Friday and agreed on Sunday to guarantee all deposits, but a weekend action launched by FDIC to sell Silicon Valley Bank failed on Sunday. The FDIC will try to sell Silicon Valley Bank in its entirety but also explore piecemeal deals, one source says. Separately, SVB Financial said Monday that it was exploring options for its other assets, including an investment bank and an investment business. Reference Link