The Rainmakers of 2010

Jorgé's picture
Rank: Neanderthal | 2,124

And will 2011 be the year of the banker?

Rainmaking, as defined by Wikipedia refers to the act of attempting to artificially induce or increase precipitation, usually to stave off drought. This is usually done by cloud seeding, dances, or prayer.

But this is Wall Street Oasis, we do a different kind of rain dancing here.

Institutional Investor magazine has released their Rainmakers of the Year list and surprise, surprise, the top two came from boutiques.

Blair Effron of Centerview topped the list after advising PepsiCo on a $15.5 billion buyback, followed by Antonio Weiss of Lazard, who did the Kraft-Cadbury takeover.

The BB's then came in starting with James Lee Jr. of JP Morgan in 3rd while surprisingly, Pawan Tewari of Goldman's TMT group came in at 8th, behind Ben Druskin of Citi at 4th and Eduardo Mestre of Evercore at 7th.

So much for GS TMT or bust?

Anyway, here's the list:

Rainmakers of the Year

1 Blair Effron and Team Centerview Partners

2 Antonio Weiss and Team Lazard

3 James Lee Jr. and Team JP Morgan Chase

4 Ben Druskin and Team Citigroup

5 James Elliott and Team JP Morgan Chase

6 Ravi Sachdev and Team Deutsche Bank

7 Eduardo Mestre, Michael Price and Team Evercore Partners

8 Pawan Tewari and Team Goldman Sachs

9 Joseph Modisett and Team Morgan Stanley

10 Steve Miller and Team BofA Merrill Lynch

Another interesting notion was their outlook on 2011, especially when you compare it to S&T as they did.

Perhaps just as important, life has gotten more difficult for the securities trader, the rainmaker's perennial rival for power and influence on Wall Street.

The Dodd-Frank Wall Street Reform and Consumer Protection Act appears destined to curb the decadelong dominance of traders and push old-fashioned relationship banking to the forefront.

Paul Parker, global head of <abbr title=mergers and acquisitions>M&A</abbr> at <span class='keyword_link'><a href=/company/barclays-capital>Barclays</a></span> Capital:

"Twenty-eleven is going to be an action-packed year... Our anticipation is for deal volume to grow up to 15 percent, to reach a total of $3 trillion or more."

Stefan Selig, executive vice chairman of global corporate and investment banking at <span class='keyword_link'><a href=/company/bank-of-america-merrill-lynch>Bank of America</a></span> <span class='keyword_link'><a href=/company/bank-of-america-merrill-lynch>Merrill Lynch</a></span>:

"With record levels of cash on corporations' balance sheets and historically attractive debt markets with record-low interest rates, all of the catalysts to do deals are in place for a strengthening M&A market."

With the Volcker Rule putting the squeeze on trading and with LBO titans like Rubinstein and Schwarzman saying that buyouts should be picking up next year, all signs point to 2011 being a good year to be a banker.

How about you guys?

What do you see in the coming year?

Will the bankers take over the bonus pool over the traders?

What's on the horizon for S&T?

Either way, here's to all that deal flow translating into more jobs for the prospective monkeys out there.

Have a good one WSO.

Comments (11)

Dec 29, 2010

First off, great find. Thanks for posting. As someone about to step foot into the IB world after graduation in May, I like to see where different firms in regards to different industries.

I think until a conservative is put in office, our economy picks up pace, and the banking industry is out of the negative spotlight it's currently in, we won't see traders returning to profits they were once known for.

Dec 29, 2010

GS is on top so long as oil is over $100 a barrel. I think M&A bankers as well as those doing restructuring will see fat bonuses. However, I have friends on the street who say risk management and risk modeling are the big thing, which makes sense judging by the list and the lack of activity in things such as bond sales. This one VP I know says her Risk Management group is all smiles.

Also, this list shows how M&A activity as well as spin-offs are kings of 2010 while banks get back in line to plunder the world come 2011. S&T will always have big shots, but 2010 goes to the IBD specializing in M&A as well as restructuring.

Dec 29, 2010

Now I'm aggravated I'm summering in Fixed Income and not IBD.

Dec 29, 2010
A Posse Ad Esse:

Now I'm aggravated I'm summering in Fixed Income and not IBD.

Don't be. With QE2 ending in the Spring, summer is a crucial time to participate in the bond market. Going to be a whole new ball game.

Dec 30, 2010
A Posse Ad Esse:

Now I'm aggravated I'm summering in Fixed Income and not IBD.

Don't be. With QE2 ending in the Spring, summer is a crucial time to participate in the bond market. Going to be a whole new ball game.

Like you said . I think FI will be good come the spring and summer months. DCM will defenitly pick up in the near term. 2010 had a larger volume of deals done then in 2009, and I hope the trend stay's like that until I make it to Associate or FT and start collecting the bonuses!

  • Only time will tell....
Dec 29, 2010

Duuuuuuuuuuuudddde, I bet Jimmy Lee is pissed that he came in 3rd.

Dec 29, 2010

I think Jimmy Lee's comforted by the fact that he's been on this list forever and isn't giving up his spot until he dies.

Dec 30, 2010

Where is Quattrone on this list?

Dec 30, 2010

Where is Quattrone on this list?

quattrone's on this list instead this year (see bottom category):

Dec 30, 2010

And what kind of bonuses are these guys going to get for their work?

Dec 30, 2010