With the crash and burn of several big banks on Wall Street over the past few weeks, now’s the time for smaller investment banks to scoop up the remains and run. Avoiding the risky mortgage sector has allowed them to escape from the rubble virtually unscathed and they now stand to inherit both the business and the talent that the big players left behind. The question remains do they have the capacity to handle what the big guys took on before it all fell apart.
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Still alot of big guys to get the job done.
The smaller guys are seeing better deal flow since alot of the big guys that used to dabble in the middle market have been absorbed by banks with a different focus.
now if i could just find that article on dealbook that said that...
Small banks will simply get a bigger piece of a smaller pie...lets be honest, deal flow has been non-existent for sometime, which means that there is a whole lot of pitching going on. This goes hand in hand with the inane thread that comp will not be down for ibankers this year, which is insane when you consider the amount of actual transactional activity.
It's just a fact that M&A isn't happening right now. Lots of deals are on the table waiting for better markets. Credit isn't available and I agree that it's naive to think that comp won't go down when nobody is really doing any deals.
I don't believe anyone's actually getting deals done in this market. M&A takes a while and financings just aren't happening. Investors are too skittish. We may yet see some of the middle markets expand and take a bigger piece of the pie, but it ain't gonna happen this year.
I fully understand this is a US centric board, but deals are getting done outside the US. Our US offices are getting staffed on a lot of Asian deals atm.
Small banks will only be able to capitalize if 1) top bankers from the big shops leave or 2) some bizarre regulation emerges that bans commercial banks from advising on M&A.
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