How does Broadpoint's acquisition of Gleacher Partners affect their investment banking prestige?
a) Increases it dramatically to the level of Gleacher Partners. b) Increases it somewhat, but no one will ever view it the same.
Broadpoint capital (old i-banking arm of Broadpoint) did not really have a name on the street at all, but Gleacher Partners was well known as a "elite" boutique that could land large and prestigious deals. (Gleacher seems to have been out of the spotlight over the last year or so with places like Evercore, PWP, and Moelis coming up).
So does Broadpoint Gleacher's i-banking take on the prestige of Gleacher Partners, or does the bank drop some to Broadpoint's old status? It's interesting because Broadpoint Capital focused on the middle market, whereas Gleacher focus on large M&A. In a recent article Eric Gleacher himself was quoted saying that Broadpoint-Gleacehr will no longer focus on the middle market and will look to large deals. http://blogs.wsj.com/deals/2009/03/03/can-wall-st…
I am asking because they seem to be on a hiring spree and are attempting to be one of the few boutiques that has prestigious large-cap M&A with the securities dept to back it up.
What do you think? Is Broadpoint-Gleacher an elite boutique? Where would you say they fall?
I wouldn't say they are an 'elite' boutique in the Lazard/Rothschild/Evercore/Moelis sense. Maybe the next tier down.
At the risk of turning this into one of those posts, I'd drop Rothschild down to the next tier w/ Broadpoint Gleacher and add Greenhill and Blackstone M&A.
But as for the original question, I'd say that Broadpoint Gleacher would be less prestigious than the original Gleacher Partners, if for no other reason than the loss of the brand equity that came with that name. Broadpoint Gleacher just doesn't have quite the same ring. Gleacher what? Broadpoint who?
Agreed. I also don't think that Rothschild belongs on that list.
Yeah, I don't see Rothschild on that list either. Maybe in Europe, not too familiar with boutique rankings there. I know we've had this discussion dozens of times, but the list of elite boutiques is basically Greenhill, Moellis, Blackstone M&A, Lazard, Evercore, Perella Weinberg
While I don't really feel like getting into an argument, anyone reading this should take the responses to this thread and every other with a grain of salt, as most of the posters have never worked in banking or have only done 10 week internships.
most people dont even have a legit 10 week internship
bg is a very good firm, even before they merged with gleacher. they do a lot of restructuring.
just google and if you have an interview with them, be prepared, a lot of technical questions.
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