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May 18, 2011

In praise of Boutique I-Banks

From the Economic Times article:
These are the ones who left the suffocating process-driven culture at giant firms, such as Morgan, Merrill and Goldman. They build relationships with entrepreneurs for years and get to experiment with ideas. Know them, identify what they want, comfort them and say they could be a lot bigger than they are, with a banker's advice. Boutique banks, such as MAPE, Collins Stewart Inga , Spark Capital and RippleWave Equity are thriving in a market where mergers and acquisitions last year doubled.

Some successful boutique firms such as Avendus Capital and Edelweiss are expanding into full-service financial firms taking their expertise to public markets such as initial public offerings. "Our approach is not transaction oriented but relationship oriented," said Jacob Mathew, managing director at MAPE Advisory.

"We keep going back to clients with ideas. We compete with top bankers with large balance sheets but we don't want to become large for the sake of it. We want to offer personalised services to our clients without compromising on quality," he added.


Arun Natarajan is the Founder & CEO of Venture Intelligence, the leading provider of data and analysis on private equity, venture capital and M&A deals in India. View free samples of Venture Intelligence newsletters and reports. Email the author at arun@ventureintelligence.in