Frank Aquila Comments on Boutique Advisers Topping M&A Tables in Financial TimesJune 5, 2017
According to an analysis of deal fees by the Financial Times, two specialist U.S.-based merger advisers have cracked the highest tier of U.S. investment banks, making them more powerful and profitable than previously reported. Centerview Partners and Qatalyst Partners achieved their high rankings by charging the highest rates, which demonstrates how companies are willing to spend more on specialist services when putting themselves on the market. In the June 5 Financial Times article, “Boutique advisers crash M&A league table thanks to high fees,” Frank Aquila commented on the business model of Centerview's co-founders Blair Effron and Robert Pruzan. He noted, “Pruzan and Effron have created a unique model where clients know they will always receive personal attention from senior bankers. Centerview's bankers all seem to have career years, every year.” Centerview has had a productive year in the pharmaceutical sector while Qatalyst has become a go-to firm for mid-cap technology companies selling themselves to larger technology vendors.