The first half of the year was a rough one for many investment banks. Global investment banking revenue fell 19% year‐over‐year to $33.7bn, the biggest first-half drop since 2012, with M&A revenue down 11% to $10.5bn, according to Dealogic. But the trend of boutique investment banks muscling into the league tables continues, particularly in the U.S.
These boutiques have just brought in their analyst class of 2016. As you'd expect, these classes are not huge, and the entry level places are highly sought-after. What does it take to get in? We've analysed some of the recent junior hires at the small investment banks making waves currently.
Jill Dolowich just joined Centerview Partners as a full-time investment banking analyst after serving as a summer analyst at the bank last year. She recently graduated from Yale with a degree in economics. Previously she worked as a summer analyst at Lux Capital and Dynasty Financial Partners.
Aaron Weiner also converted a summer analyst role at Centerview into a full-time investment banking analyst position upon his graduation with a Bachelor of Business Administration, Finance and Accounting from Emory University’s Goizueta Business School, where he was the co-founder/chair of the Finance Group, the president of the Investment Management Group and the co-founder/president of the Investment Banking Academy.
Lazard hired Ali Soloff last month as an investment banking analyst after she graduated with a BBA from Emory’s Goizueta Business School, where she served as the VP of finance at the Delta Delta Delta Sorority. After internships at Meridian Bank, Liberty Property Trust and Brandywine Realty Trust, last year she was a summer analyst at Lazard.
Lazard also hired Elliot O’Reilly last month as an analyst in the M&A advisory group after he graduated from Yale. In addition to participating in Lazard’s summer analyst program, he also had summer internships at Egon Zehnder and McKinsey & Co.
Houlihan Lokey just hired Daniel Brenner as an investment banking analyst after he graduated with a B.A. in accounting and finance from Syracuse University, where he was a senior analyst at the Orange Value Fund of the Whitman School of Management and the Ballentine Investment Institute. Previously he was a sales and trading summer analyst at Credit Suisse..
Richard Shi recently joined Guggenheim Partners as an investment banking analyst after he graduated with a B.A. in accounting and finance from New York University’s Stern School of Business, where he worked as an accounting assistant in NYU’s information technology services procurement division. He was an investment banking summer analyst at Bank of America Merrill Lynch, an investment banking intern at StoneCastle Partners, a finance intern at Major League Gaming and a venture capital intern at International Data Group.
Guggenheim hired Wilson Wu this month as an investment banking analyst after he was a summer analyst at the bank last year and graduated with a B.A. in economics from the University of California, Los Angeles, where he participated in the Undergraduate Business Society’s investment banking workshop. Previously, he was an investment banking analyst in Imperial Capital’s internship program.
Allen & Co.
Allen & Co. hired Mathew Fogel in June as an investment banking analyst immediately after he graduated from Fordham University, where he studied finance and economics, participated in the Investment Banking Society and was the chief economist of the Student Managed Investment Fund. He was a summer analyst at Allen & Co. last year and prior to that did an internship at Wells Fargo.
Salmaan Javed joined Allen & Co. as an investment banking analyst in May right after he graduated from the University of Southern California’s Marshall School of Business, where he was a trader and portfolio manager at the Undergraduate Student Investment Fund, an executive board member of the Trojan Investing Society, a general member of the Value Investing Group and a teaching assistant in the university’s Investment Banking Peer Advisory. He is the co-founder of Forward Investor.
Sandler O'Neill & Partners
Carlos Velasquez was hired by Sandler O'Neill & Partners in May as an investment banking analyst after graduating with a Bachelor's degree from Kennesaw State University's Michael J. Coles College of Business, where he participated in the Student Managed Investment Fund. Previously he was a private equity intern at Ellsworth Partners and an equity research associate at FIG Partners.
Sandler O'Neill & Partners recently hired Mackenzie Boydston as an investment banking analyst after she served as a summer analyst at the bank last year. Boydston recently graduated with a Bachelor's degree from Georgetown University's McDonough School of Business with a double major in finance and international political economy and business. She completed a study abroad program in international finance and comparative strategic management at Oxford University's Trinity College and was the captain of Georgetown's varsity women's golf team.
Photo credit: Boutique by Orse is licensed under CC BY 2.0.b