Goldman Sachs M&A bankers set to converge at this new boutique
If you work in M&A at Goldman Sachs and are a little lacking in enthusiasm, there is an alternative. Ardea Partners a new boutique set up by Goldman's former co-chairman of investment banking in the U.S. has just arrived in London. And it's already hiring senior people from Goldman Sachs.
Robert Falzon, a former managing director in European industrials M&A at Goldman has just joined Ardea's London office. Falzon joined in September, which is impressive as Ardea's UK business was only incorporated on September 21st.
In July, Bloomberg reported that Chris Cole, Ardea's founder, had set about approaching various former Goldman colleagues to work for his new firm. While Falzon appears to be the first ex-Goldman employee (and indeed the first employee) in London he is therefore unlikely to be the last.
Earlier this year, Goldman Sachs was said to be making a handful of layoffs in its UK and US M&A teams. Year-to-date, however, Goldman Sachs ranks 1st for UK investment M&A revenues according to Dealogic. Cole has launched Ardea at a potentially challenging time: following a slowdown in deal-making, Fox Business suggested this week that US boutiques Perella Weinberg and Tudor Pickering are contemplating merging, although this has not been confirmed by the firms involved.