Reuters - Investment banks losing out to boutique firms in Europe

Boutique advisory firms now receive nearly half of all mergers and acquisition fees in Europe, stealing market share and top dealmakers from global investment banks hamstrung by a renewed focus on cost-cutting and regulations on how much they can pay.

Reuters reports that founded largely by veterans fleeing bureaucracy and shrinking paychecks at the large banks, these low-profile small firms are proving popular among companies who value their niche expertise and independent advice as opposed to mega-banks who tend to cross-sell other services like financing.

Advisory boutiques have captured 44% or $1.7bn of total completed M&A deals fees in Europe, Thomson Reuters data collected up to August 10 shows. Boutiques based in Europe captured 24.9%, or $964m, and other boutiques took the other 19%, or $728m.

That compares with 42.8% for the whole of 2015, 30.5% at the height of the last M&A boom in 2007 and 20.1% in 2000, when Thomson Reuters began recording the data.

To access the complete Reuters article hit the link below:

Europe's boutique firms stealing M&A market share, dealmakers, data shows

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