Is Mizuho an EB now?
Since Mizuho bought Greenhill, is it an EB now? What happens with the existing Mizuho juniors? Will they get replaced?
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Because Mizuho acquired an EB, Mizuho is now at least an EB
What’s EB? Elite Bushi?
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GHL would most likely remain as a stand-alone entity and keep the same team, but can benefit from what Mizuho can offer, such as capital markets products etc
https://twitter.com/BlackSailsRsch/status/1660622519098019840?t=Dc9aodN…
Do you think they’d remain operating as an “independent advisor” or are they going to be more like a Jefferies now, with some sort of balance sheet capability?
https://www.globenewswire.com/news-release/2023/05/22/2673304/0/en/Mizu…
Why would Mizuho acquire Greenhill, only to fire Greenhill bankers? The value of the business is in the people that they acquired. If anything, they're paying retention plans to the new bankers.
Greenhill’s whole TMT team got poached by Gugg and the whole firm folded… lol
I think Mizuho might be a top 10 bank now.
Top 10 EB
Honestly a win-win for both firms imo. Greenhill gets the capital markets capabilities to serve a greater variety of clients and Mizuho makes a nice acquisition to continue bolstering its IB strategy after buying PE place agent Capstone recently.
Ghl on its own was slowly dying and probably facing a maturity cliff so it's a particularly good exit for them and their shareholders. Per Mizuho press release, looks like all 370 employees will be retained and the brand will be kept, so pretty ideal outcome for them.
For Mizuho, time will tell how well Greenhill can bolster their IB operations. It's still a very competitive space out there, but making this acquisition definitely positions them better than where they were before lol
As a former GHL junior, the b/s probably hurts more than it helps. These guys were pathetic in the first place… only winning deals in places where other banks were conflicted.
We were literally selling ourselves as “uniquely positioned” and raving about how we were conflict free. Basically only reason we were winning deals (90% of which were fairness opinions). Seniors there are washed and have zero idea how to use a balance sheet.
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How does the RX team fare at GHL?
They’ll be doing restructuring in that group
Confirming Mizuho is in fact an EB
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