Leerink Partners Report November 2024 | Page 4

Leerink Partners CIO Jeff Gerson on how the firm realigned its technology strategies and services after it demerged from SVB Financial Group in 2023
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Leerink Partners CIO Jeff Gerson on how the firm realigned its technology strategies and services after it demerged from SVB Financial Group in 2023

On 10th March 2023 , the commercial banking division of Silicon Valley Bank ( SVB ) collapsed in a dramatic bank run , ranking as the third-largest to date in US history .

SVB ’ s collapse , the most significant since the 2008 financial crisis , sent shockwaves worldwide and nearly destabilised the innovation economy . With its client base deeply rooted in startups and tech companies , many were left scrambling to secure their finances amidst the uncertainty . At the time of its downfall , SVB stood as the 16th largest bank in the US , with approximately US $ 200bn in assets .
Among the institutions caught in the storm was Leerink Partners , a key player in the healthcare investment banking space . Once under SVB ’ s ownership from 2019 until the bank ’ s collapse in 2023 , Leerink has now re-emerged as a fully independent investment bank . With renewed focus , it continues to provide specialised financial services to investors and healthcare companies , positioning itself as a trusted leader in a rapidly evolving sector .
The successful demerger from SVB was driven by a combination of strong leadership , the dedication of Leerink ’ s employees and the company ’ s ability to pivot quickly . A critical aspect of this agility was the strategic decision to keep
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