JPMorgan, PNC in talks to buy part of SVB Financial Group, people familiar with the matter

JPMorgan and PNC are potential buyers in talks to buy SVB Financial Group, a deal that would exclude Silicon Valley Bank, which is currently controlled by the U.S. government, Axios reported, citing people familiar with the matter. In addition to Silicon Valley Banking, SVB Financial Group also has three departments: asset management, private wealth management and securities business. Apollo Asset Management and Morgan Stanley are also involved in the discussions, and Apollo's interest is expected to focus on financing the deal or acquiring parts of the business, the sources said.