Rothschild RX in 2026?
Obviously Rothschild has strong historic reputation in the space but I never see anyone talk about them as being a strong restructuring practice. 9fin has them 4th in total volume in 2025 per LSEG. Are they just much stronger outside of the US?
Rothschild's restructuring (RX) practice has a strong historic reputation, particularly in Europe. Based on the most helpful WSO content, Rothschild is often recognized as a top RX firm in London over the long term. However, in the U.S., their RX presence is generally considered more middle-market (MM) and Tier 2 compared to elite boutiques like PJT, Houlihan Lokey (HL), and Lazard.
Their RX team in the U.S. has faced challenges, such as losing key employees to competitors like Greenhill and the formation of TRS. Despite this, Rothschild's RX franchise remains respected, with strong sovereign advisory capabilities and a strategic partnership with Intrepid, which has bolstered their presence in energy mandates.
While Rothschild may not dominate discussions in the U.S. RX space, their European strength and global reputation still make them a significant player, particularly for those seeking international exposure or opportunities in Europe.
Sources: Why You Should Consider Restructuring – Common Misconceptions/Insight on RX Groups, Why You Should Consider Restructuring – Common Misconceptions/Insight on RX Groups, RX Rankings 2022 - Can we please get restructuring rankings for the benefit of students and incoming interns looking to lateral, BEST Restructuring experience in London, Request for Restructuring League Tables 2018
One important distinction is whether these is in-court (ie Ch11) deal volume or overall. You only see public posting if they file for Ch11.
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