Boston Private Financial (BPFH) Announces ISS Recommends Shareholders Vote “FOR” the Proposed Transaction with SVB Financial (SIVB)

April 14, 2021 1:13 PM EDT

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Boston Private Financial Holdings, Inc. (NASDAQ: BPFH) (“Boston Private”), a leading provider of integrated wealth management, trust and banking services to individuals, families, businesses and nonprofits, today announced that independent proxy advisory firm Institutional Shareholder Services (“ISS”) has recommended that Boston Private shareholders vote “FOR” the proposed transaction with SVB Financial Group (NASDAQ: SIVB) (“SVB Financial”) at Boston Private’s upcoming special meeting scheduled for April 27, 2021.

“We are pleased that ISS recommends that Boston Private shareholders support the recommendation of our Board and vote in favor of the merger with SVB Financial,” said Anthony DeChellis, Boston Private Chief Executive Officer and President. “This recommendation underscores that the transaction with SVB Financial is financially and strategically compelling and provides the best path for maximizing value for Boston Private shareholders.”

The Boston Private Board unanimously recommends that shareholders vote on the WHITE proxy card “FOR” the proposed transaction with SVB Financial and “FOR” the other matters to be considered at the April 27, 2021 special meeting.

If shareholders have any questions or need assistance in voting shares, please contact Innisfree M&A Incorporated, Boston Private’s proxy solicitor, by calling toll-free at (877) 800-5187, or for banks and brokers, collect at (212) 750-5833.

About Boston Private

Boston Private is a leading provider of integrated wealth management, trust and banking services to individuals, families, businesses and nonprofits. For more than 30 years, Boston Private has delivered comprehensive advice coupled with deep technical expertise to help clients simplify their lives and achieve their goals. The firm offers the capabilities of a large institution with the superior service of a boutique firm to clients across the United States. Boston Private is the corporate brand of Boston Private Financial Holdings, Inc. (NASDAQ: BPFH). For more information, visit www.bostonprivate.com.

Advisors

Wachtell, Lipton, Rosen & Katz is serving as legal counsel to Boston Private and Morgan Stanley & Co. LLC is acting as financial advisor to Boston Private.



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