Hey there,
I know Greenhill used to be one of the top boutiques, but I’ve heard mixed things about their recent performance. Does anyone have insights?
Hey there,
Good question! Greenhill used to be one of the top names in the boutique M&A space, but things have definitely changed in recent years. Their deal flow has slowed down quite a bit, especially compared to the likes of Evercore, Centerview, or PJT. A lot of that has to do with the fact that they haven’t been as aggressive in expanding or hiring top talent, while other boutiques have been outpacing them.
Also, they got acquired by Mizuho, which was a big shift. It’s still a respected name, but some folks see it as more of a mid-tier boutique these days rather than an elite one. That being said, deal flow can be cyclical, and some teams (like restructuring) might still have decent activity depending on the market.
If you're considering them for recruiting, I’d dig into the specific team/location you're targeting. Some offices might be busier than others. And as always, networking with recent analysts or associates will give you the best pulse on what’s happening right now.
Hope that helps!
Greenhill & Co., once a top-tier boutique investment bank known for high-profile M&A advisory, has seen a decline in performance over the past decade, though it retains a strong legacy brand. Recent data shows Greenhill’s deal volume has dropped significantly—e.g., $12B across 22 transactions in 2023, ranking 68th globally, and only $2.5B across 5 transactions in 2024 YTD, ranking 55th. This is a sharp fall from its peak when it advised on major deals like ABN AMRO’s $100B acquisition in 2007. The 2023 acquisition by Mizuho for $550M has bolstered its financial backing, but Greenhill struggles to compete with elite boutiques like Evercore or Moelis on large-cap deals, focusing instead on smaller, strategic advisory roles. Despite this, its culture remains collegial, with strong PE exit opportunities for juniors due to its brand, and analyst pay ($85k–$120k) is competitive, though below top boutiques like PJT. For your EMBA and background in corporate finance and entrepreneurship, Greenhill’s Dubai office could be a viable target for Associate roles, leveraging Mizuho’s Middle East presence, but its reduced deal flow may limit exposure compared to bulge brackets like J.P. Morgan.
