What is the difference between MM and Boutique?

I would appreciate if anyone can help me answer this question. I am wondering what the difference is between middle market and boutique investment banks. Thanks for the help.

5 Comments
 

the size of the deals ($1 billion), boutique is about the # of people in the firm. example - greenhill is a boutique cause its only 200 people but its not MM since it works on larger deals.

 

i thought boutique means the bank isn't multi-service--greenhill/evercore doesn't have all the services that GS/MS has

never heard about it having to do with employee size

 

usually boutique deals with the employee size. I know a couple banks that are small but actually have S&T,too.

MM just means it work on middle market delas, like anything below 1b or 2b depending on how you want to specify it. However, I know several " MMs" that actually worked on deals 2 bil or larger

 

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