Dow Jones Newswires reports that two senior investment bankers have bucked the trend and started their own investment bank.
The new bank, Lane Berry & Co. International, was founded by two former DLJ bankers, Frederick Lane and Robert Berry and is based in Boston. Their firm, which currently has around a dozen employees, opened its doors to business in January and is specializing providing advice on mergers, acquisitions and restructurings.
Business seems to be going well and the firm plans to open offices in Los Angeles and New York next year. There is unlikely to be a shortage of candidates for any new positions that open up at the firm.
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