Wanted: The 'Renaissance banker'

“The renaissance banker is back in vogue”

Interesting seeing how M&A boutiques are responding compared to the larger corporations

Nice read from the FT. I agree with Blair Effron (Centerview) as he believes the rebound is coming “sooner than people think”. He also stated: “M&A never dies. It dies for a couple months.” Which I believe strongly. # mergersandacquisitions #mergersacquisitionsdivestitures

What does an M&A boutique do when the deals dry up? - the key " Mitigate the drop in M&A revenues by helping companies to restructure and giving them strategic advice on how to navigate the crisis. Shares of PJT and Houlihan Lokey — which have prominent restructuring practices — have risen this year. Evercore, Lazard and Greenhill — which are more vulnerable to a downturn in traditional M&A — are down between 24 per cent and 42 per cent" https://on.ft.com/2ZO7z1E via @FT

"While deal activity dropped to its lowest levels in more than a decade during the second quarter, a spike in bankruptcies of prominent companies — such as the rental car group Hertz, the department store chain Neiman Marcus and the satellite operator Intelsat — is providing a critical revenue boost for boutiques." Today must-read is about how M&A boutiques might need to diversify themselves and start giving more services such as capital markets or strategic advisory.