Banks are building out lending to ultra-rich individuals, some of whom include Silicon Valley execs with a lot of wealth tied up in private shares.
Banks are building out lending to ultra-rich individuals, some of whom include Silicon Valley executives with a lot of wealth tied up in private shares.simply click here to claim your deal and get access to all exclusive Business Insider PRIME content.
The lenders have also been vocal about leveraging relationships between wealth management and investment banking. Neumann has a WeWork share-backed line of credit of up to $500 million from Credit Suisse, JPMorgan, and UBS, with some $380 million principal outstanding as of July, according to the coworking giant's August S-1 filing.
"You have to constantly, without naming names, think about how much exposure do you want to the for-hire car space, or CRE, or health care," La Padula said, referring to commercial real estate."It's always a dialogue."longer, some recent IPOs like Uber and Lyft have stumbled in trading this year as investors question the companies' paths to profitability.
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