Europe’s boutique firms stealing M&A market share

LONDON: Boutique advisory firms now receive nearly half of all mergers and acquisition (M&A) 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.

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.