Got this off Deloitte's Investment Banking division's website. According to Thomson Financial:
Mid-Market Financial Advisor No. of Deals KPMG Corporate Finance 382 PricewaterhouseCoopers 278 Deloitte Touche Tohmatsu – Corporate Finance 238 Rothschild 204 Citi 200 Ernst & Young LLP 177 UBS 164 IMAP 164 Credit Suisse 137 Lazard 134 JP Morgan 127 M&A International 123 Houlihan Lokey Howard & Zukin 121 BNP Paribas SA 120 ABN AMRO 115 Nomura 108 Jefferies & Co Inc 104 Goldman Sachs & Co 101 Morgan Stanley 98 Merrill Lynch 97
I was curious as to how the people on this board would interpret these rankings.
basically this deals only with middle market deals of course.. smaller boutiques like Rothschild are going to be on the top since this is what they mostly but banks like MS or ML that don't rank high are still going to better.. they do the big deals
if your looking to go work for a boutique i would say that Lazard, houlihan, Blackstone (if you count their M&A side as boutique) would all be strong
I was actually considering the Big4 corporate finance practices. Judging by the table, one would think they're pretty good; better than boutiques apparently. But being a newbie, I'm skeptical.
What is Deloitte's definition of "middle market?" Are these lead or sole advisor roles only?
and this ranking is based on no. of deals. Look at the ranking for deal value and the positions change dramatically. Thomson's ranking also categorizes middle market into 100M, 500M, 1B etc, so you will want to look at the right rankings depending on what your focus market is.
Thanks for your insights. Here is the full list.
http://www.deloitte.com/dtt/article/0,1002,cid=164775,00.html
I wouldn't go for Big4 corporate advisory based on this list alone. Average deal size of KPMG is 21 million, PwC is 27.5 million, Deloitte is 25.7 million, etc. Actually, even if you go down the list the average deal sizes are fairly low (~65-75 million). This list is obviously doctored to include only sub-100 million dollar deals. Believe me, you don't want to be doing 21 million dollar all cash tuck-in deals.
Also, it doesn't say what role Deloitte played. Did Deloitte just provide fairness opinion?
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