Wouldn’t recommend joining an independent advisory shop in Australia just because having a balance sheet is so important to winning deals in the region

 

Cheers for your replies guys. A lot of what I've heard agrees more with the relationship heavy nature of the industry in Aus. 

How would a balance sheet affect winning a M&A mandate? Obvs I can see how it affects any ECM/DCM related activity, but I'm not sure what the benfits to the client would be in a purely advisory situation. 

 

From what I've seen, Luminis appears to be almost solely a MM shop in Aus and quite different from Evercore in the US. Do you know how the Evercore partnership comes into effect there/what it does in practice? I've also heard it's a bit of a sweatshop. 

 

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