Boutiques post record M&A revenue

摘要

Independent investment banks showed last week how they have been able to take full advantage of the rebound in merger and acquisition deal flow led by lazard. The firm posted record revenue in the fourth quarter and exceeded its 2014 adjusted operating margin goal of 25%, set three years ago. Evercore and moelis also reported strong performance in the period, sharply contrasting the performance of rival firm Greenhill, which had reported lacklustre results a week earlier.