Yesterday it became apparent that EADS and BAE Systems are in ‘advanced talks’ to seal a £29bn merger. Such a deal might generate fees of around 0.2% of its value – equivalent to around £58m. But it’s not just the mega-banks advising on this this mega-deal.
BAE is being advised by Morgan Stanley and Goldman Sachs but it is also being advised by Gleacher Shacklock. EADS is being advised by BNP Paribas and Lazard but it is also being advised by Evercore.
Breaking Views argues that the boutiques are in on the act because they have the relationships. “Advisers such as Evercore’s Bernard Taylor and Gleacher Shacklock’s Tim Shacklock have been counselling these companies for donkey’s years,” Breaking Views points out.
Anshu Jain said earlier this week that M&A bankers in big banks are a cost centre often demanding high pay even when M&A revenues aren’t forthcoming and unfortunately FICC businesses can no longer subsidise them. By comparison, large boutiques like Evercore have a far leaner cost base and are performing well even in this market.
Our Corporate Finance specialists are seeing a variety of Corporate Finance Advisory opportunities right now, with both Boutiques and Bulge Bracket banks, roles starting from Analyst position, right up to MD positions.
If you are interested in a career within the Corporate Finance Advisory space, please contact Philip.seager@Alan-Mitchell.co.uk