On April 28, 2021, HoldCo Asset Management, LP issued a public letter to Greg Becker, President and CEO of SVB Financial Group in connection with its proposed merger with Boston Private Financial Holdings, Inc. In the letter, HoldCo Asset stated that in the hopes of paving a path forward that benefits both SVB Financial and the Company shareholders. HoldCo Asset expressed its view that SVB Financial lacks the necessary votes to win the Company shareholder support for the merger. HoldCo Asset added that while those votes may ultimately come, HoldCo Asset views that the special meeting adjournment is more likely to cause those the Company shareholders that voted for the deal to have a change of heart.