Boutiques you may now wish to work for
There is some confusion as to whether boutiques are covered by The Tax. As we reported yesterday, Withers thinks they are. But the Telegraph says advisory houses think they aren't. Rumour has it the Treasury is looking at its definitions and may issue clarification to exclude non-banks.
This being the case, we have compiled a (non-comprehensive) list of corporate finance boutiques and smaller brokerage houses which may be hiring. The latter may find it harder to escape the Treasury's grasp. However, they will at least fall outside the FSA's list of 26 firms with regulatory capital worth more than 1bn, and may therefore be lower on the regulatory radar.
Business area(s): Independent investment bank focused on European growth companies.
Who? Founded in 1996.
Why?</b In growth mode, recently hired a senior corporate financier in London, and a head of its London-based equity sales and trading business.
Business area(s): Corporate finance advice and private equity.
Who? Founded by ex-Morgan Stanley, UBS and Dresdner Kleinwort bankers in the US.
Why? Has been building a London office under Richard Girling, former head of Merrill Lynch's European healthcare practice.. Advising on Kraft's bid for Cadbury.
Business area(s): Research, advice, structuring and execution in credit markets.
Who? Set up by Cirine El Husseini, former prop trader at RBS, and Stewart Booth, former co-head of global credit trading.
Why? Still early days - may be looking for staff.
Business area(s): Mid-market derivatives and securities dealer.
Who? Founded in 2007 by former head of derivatives sales and marketing at RBS.
Why? Been expanding - made three senior hires since July, including a head of equity derivatives trading and a head of fixed income sales. Plans to continue expanding in a 'controlled manner,' with additions to distribution.
Business area(s): Emerging markets boutique specialising in illiquid bonds, loans, equities, structured finance, capital raising and asset management.
Who? Formed in 1999 by Peter Bartlett, former head of emerging market sales and illiquid trading at Banque National de Paris.
Why? Exotix has been expanding aggressively this year. Hired a new CEO in September.
Business area(s): Boutique investment bank which wants to develop into a a full service issuing house and broker across fixed income, equities, convertibles and equity linked products.
Who? Part of UK fund manager, Matrix Group.
Why? In growth mode. Announced the recruitment of six fixed income bankers today in an effort to build up its fixed income presence. More than doubled its headcount over past year.
Business area(s): Corporate finance and M&A, risk advisory, restructuring
Who? Founded by Ken Moelis, former president of UBS investment bank.
Why? One of the big success stories of recent years. Has been expanding its London office rapidly, hiring across restructuring and investment banking. Appointed Mark Aedy, former head of European investment banking at Merrill Lynch to lead its London business.
Business area(s): Corporate finance advisory
Who? Founded by Michael Tory, former head of UK investment banking at Lehman Brothers.
Why? Has been hiring aggressively this year. Increased London headcount from 30 to 40 since the summer; working on the Gartmore IPO.
Pactum Advisers
Business area(s): London-based advisor to Italian companies looking for help with derivatives restructuring.
Who? Founded by Riccardo Banchetti, former co-head of Lehman Brothers' European business, and Antonio Miele, former head of structured solutions for southern Europe at Nomura.
Why? Said it planned to hire in October. Wants to build up the debt restructuring business and develop a corporate finance capability.
Business area(s): Corporate finance advice and asset management.
Who? Co-founded by former senior Morgan Stanley investment bankers, Tarek Abdel-Meguid and Joseph Perella.
Why? One of most prestigious boutiques to emerge in recent years. Has hired a handful of senior bankers in 2009.
Business area(s): Corporate finance and M&A, asset management
Who? Founded in 2005 by by ex-Dresdner Kleinwort bankers Andrew Pisker, Steve Berger and Werner Grub, and former Goldman Sachs M&A banker Scott Mead.
Why? Might need some help. Made an operating loss in last financial year and hasn't won many mandates.
Business area(s): Equity sales and trading in Europe and North America, corporate advisory services and investment management.
Who? Formed by Andrew Rowland, former head of trading for Dresdner Kleinwort's digital markets business.
Why? Still expanding - hired a former Dresdner banker as head of sales in late November.
Business area(s): Independent fixed income-focused investment bank covering sales and trading, capital markets, asset advisory solutions.
Who? Founded by two ex-Citigroup bankers: Antonio Cacorino, former global head of the investor client group, and Fredrick Chapey, former head of global derivatives and emerging markets sales and trading.
Why? Formed in February 2009, still in expansion mode. Recently hired a new head of European ABS trading, plus a former hedge fund manager and two senior fixed income bankers.
Business area(s): Fixed income brokerage
Who? Founded by Simon Mullaly, former head of European distressed debt trading at Deutsche Bank, and Lars Lemonius, former head of proprietary trading at Morgan Stanley.
Why? Strong pedigree, only launched in September and only employs nine people. May need more.
