Why are almost all Elite Boutiques American?
Question says it all. Interested to hear peoples' thoughts on why almost all of the top EBs are American, and the lack of European EBs.
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I guess in Europe the balance sheet just matters a lot so it's not as strong a model as it is in the US. That said, in the UK, the American EBs are now stronger than the European EBs.
Interesting discussion. Well let's ask a few similar questions...
Why are almost all top consulting firms American? (MBB) Why are almost all big tech companies American? Why are almost all BBs American? Why are almost all aircraft carriers American? Why are almost all stealth fighters American? Why are almost all investor activism American?
List goes on. Now, going back to your questions. I can think of a few reasons. 1) large single-market mature economy. 2) a more "conservative" economy. 3) More public disbursedly owned companies so there's more of a need for independent advice. This I suspect is the key reason for more activism as well 4) More more deal volume in general.
Feel free to correct me
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