The management of Silicon Valley Bank’s (SVB) investment banking division SVB Securities is looking to buy the company back from its parent entity, Bloomberg has reported.

SVB Securities head Jeff Leerink and his team are planning to help funding a possible management buyout of SVB, people privy to the development told the publication.

The team is in a hurry to broker a deal amid the US regulators pursuing a buyout for the remaining parts of SVB Financial Group after the regulators took control of its Silicon Valley Bank, added one of the people.

Late last week, California Financial Regulator seized control of SVB citing insufficient liquidity and insolvency at the bank.

SVB Securities’ plan for a management buyout is driven by its intention of not losing its talent pool and value due to the collapse of the bank, an undisclosed source said.

However, no deal has been finalised and the initiative may not materialise.

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Representatives for SVB Securities are yet to comment on the possibility of a management buyout.

Although, the firm said the appointment of Federal Deposit Insurance (FDIC) as SVB’s receiver will not directly affect its business.

In a statement, Leerink said: “We understand that the receivership of Silicon Valley Bank has caused concern among our clients and stakeholders.

“We want to assure you that SVB Securities is financially stable and will continue to operate as usual.  “We remain committed to providing the same level of high-quality products and services that our clients have come to expect from us.”