DLJ: Wall Street’s best-kept secret

DLJ is far from anyone's idea of a global investment banking powerhouse. But in important markets, such as high-yield debt or US equity underwriting, it has suddenly become a top player. Now the "the little firm that became big", as DLJers like to describe their bank, is moving overseas. Peter Lee reports.

So, is it for sale?

Last year, New York-based investment bank Donaldson Lufkin Jenrette (DLJ) moved decidedly up-town. Leaving behind its old, slightly run-down, headquarters on Broadway after 30 years, it moved into swish new premises at 277 Park Avenue, next door to Bear Stearns and across the street from the newly merged Chase Manhattan Bank. Employees moved over several weekends in early spring. Each Friday night was the same. The snow would descend on New York in one of the worst periods of bad weather the city could remember.

Access intelligence that drives action

To unlock this research, enter your email to log in or enquire about access