"Boutiques Grab M&A Market Share from Mega-firms" (Reuters)

September 25, 2009

SULLIVAN & CROMWELL LLP Partner Frank Aquila was quoted in a Reuters article about how bankers are moving from large banks and investment firms to smaller boutique firms due to the restrictions on pay at larger institutions brought about by the Troubled Asset Relief Program. Mr. Aquila noted that, "the bulge bracket firms continue to be the leaders in the M&A market," but boutique firms "have played, and will continue to play, an outsized role."