Boutique Banking: The Niche That Keeps Growing

Nov 1, 2009

Specialist providers of investment banking services have attracted top quality talent in the downturn. The challenge is maintaining momentum as markets revive.


by Ben Miller

In the months that the bulge bracket investment bank spent hemorrhaging cash, being intervened and laying off staff, new opportunity emerged for boutiques. Specialist providers of investment banking services – some formed by talent regurgitated by Wall Street – are exploiting demand for impartial advice from institutions with a clean slate that lack conflicts of interest often caused by cross-selling.

 
For the first time, LatinFinance has ranked the best providers of specialist investment banking services operating in the region. Such institutions can vary in size, but all are chosen by clients for their skills and knowledge, rather than ability to provide funding.


A standout for M&A in the region is Rothschild, which operates very much as a boutique in LatAm, even though in other regions it is part of a major investment banking franchise. The shop had its stamp on most of Brazil’s biggest M&A deals,...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management