Jeff Stute was a big loss for PWP
Took BD with him, PWP missed out on BD's $18B spin to Waters.
Citi, where Stute now is, is listed as lead financial advisor to BD.
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Based on the most helpful WSO content, Jeff Stute's departure from PWP was indeed significant, as he took BD (Becton Dickinson) with him. This move resulted in PWP missing out on BD's $18 billion spin-off to Waters. Citi, where Stute is now, is listed as the lead financial advisor to BD for this transaction. This highlights the impact of senior banker moves on deal flow and client relationships in the industry.
Sources: GS COO of M&A Leaves for PWP, Changing face of Investment Banks, Personal Experience with Houston Energy IBD - Thoughts on Industry Outlook? (Long Post), Blackstone / PJT Exit Opps, Why so many PWP shills?
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