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“Sorry, we’re not selling it this month, maybe next,” quips John Herrmann, head of investment banking boutique The Bridgeford Group, as he comes to the telephone, aware only that Euromoney is calling to discuss boutiques. His reaction typifies the current excitement surrounding investment banking boutiques in New York. What used to be dismissed as vanity shops for dealmakers who disliked being accountable to management committees have acquired respect. Two of the better-known firms, Gleacher & Co and Wolfensohn Inc, sold themselves within the last year for sums which woke the investment banking world with a jolt. |
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