After a year hunkered down in response to the Covid-19 pandemic, independent investment banks are again on the hunt for talent and looking to pull seasoned M&A bankers out of the top US and European banks. After a blowout quarter in advisory, independent banks, including EVERCORE and MOELIS, said hiring is a top objective coming out of the pandemic. But the task is challenging for at least three reasons: they all have the same idea and competition for talent is intense; M&A is humming along at record levels, making it harder to lure bankers away from home while they are helping clients navigate a transaction; and it is currently expensive.
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