Tiny Firms Challenge The Big Banks

摘要

The townhouse in London's Mayfair neighborhood where Michael and Yoel Zaoui have their office is much more modest than the sprawling financial district headquarters where they spent most of their careers. Yet the brothers-former senior mergers-and-acquisitions bankers at Morgan Stanley (Michael) and Goldman Sachs (Yoel)-are becoming a major force in some of Europe's biggest corporate transactions. In April, Zaoui & Co. worked with drugmaker GlaxoSmithKline on a complex $23 billion asset swap with Novartis, and it advised cement manufacturer Lafarge on its $40 billion merger with Holcim to form the world's largest cement company.