SVB Financial announced it formed a restructuring committee to review options for its remaining business lines, including SVB Capital, a $9.5 billion fund of funds manager, and its securities division.

The Santa Clara, CA-based bank said the committee consists of five independent directors to explore strategic alternatives for the holding company and its SVB Capital and SVB Securities businesses.

The members of the holding company’s restructuring committee are venture capital investor Eric Benhamou; Tom King, former CEO of investment banking at Barclays; Kay Matthews, formerly of Ernst & Young; Mary Miller, the former Under Secretary for Domestic Finance for the US Department of the Treasury; and Kate Mitchell, co-founder of Scale Venture Partners.

In addition to exploring potential transactions, the committee will explore all alternatives for addressing the approximately $3 billion of funded debt held by the holding company. Officials add this is recourse only to SVB Financial Group and is not guaranteed by the subsidiaries.

Company officials added that SVB Capital’s venture capital and private credit fund business will continue to operate and serve clients through its existing management team. SVB Capital funds are distinct legal entities from the bank.

SVB officials noted that investment banking unit SVB Securities is still open for business, and the “resolution proceedings” for Silicon Valley Bank is not expected to directly impact the broker-dealer’s business operations.

The Securities division focuses on healthcare and technology companies and provides services like M&A advisory, raising money from the capital markets, arranging leveraged finance and equity research.

The holding company is being advised by Centerview Partners LLC, Sullivan & Cromwell LLP, and Alvarez & Marsal as financial, legal, and restructuring advisors, respectively, in conjunction with the committee’s activities.