Hello fellow monkeys,
I am looking into BBH, and would appreciate any insight on their firm. The vast majority of the BBH threads are quite dated and do not have a ton of information.
I have a call coming up with a friend of a friend and that they may be offering some services that interest me. I believe they do some M&A, and work closely with the firms PE arm, but there seems to be minimal information about their overall IBD presence and role.
Any information would be much appreciated.
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Brown Brothers is traditionally a Private Bank. It comes from old money so naturally, the partners who have inherited their places from those who came before them can easily be described as risk averse. So, seems like they pivoted the business to a back office custodial firm, as someone mentioned above, and they mostly focus on a niche business similar to BNY.
But the PB still stands to this day. In that company under the umbrella, there's Private Equity, Merchant Banking, an Advisory practice, and Private Wealth Management. I'm not an expert, but I think they all sort of work in some sort of collusion to cater to very wealthy individuals. These would be small to mid-size business owners like commodities dealers and brokers, or retailers, for example. I think the PWM takes deposits and then they're spread into private loans and merchant financing. I don't know what buyout or sponsor deal flow is like there, but I suspect the heavy lifting for analysts is really in lending. The team is so lean that the analysts typically work on any advisory mandates, lending, and deal financing (which is mostly debt).
Another arm under the overhead is their Investment Management team. From what I understand, IM at Brown Brothers is just a group that essentially manages several ETFs. The ER team has very specific protocols to present investment ideas, there's a portfolio committee that approves any idea, and then they have a team that executes the strategy. The investors are PWM folks and the offerings are just the ETF for whatever the specific makeup of that ETF and what it consists of at that time.
Essentially, they operate in low-risk business dealings, with growth towards the custodial and Investor Services side. If you have nothing else take it, but don't be flattered into thinking it's the bees' knees.