Boutique Investment Banks

Small but mighty.

What are Boutique Investment Banks?

The boutique investment bank is different from its largest cousin, the bulge bracket investment bank, when it comes to size and services offered. Bulge bracket investment banks are often national or global in scale and offer a full range of financial services. In contrast, a boutique investment bank may only be regional or local, although there exist certain global boutique investment banks. The main criterion, however, for being defined as a boutique investment bank is that it does not offer full-service investment banking, but offers at least one financial service.

That being said, the size of the firm does not indicate performance. Boutique investment banks can be known to be reliable financial advisors and banks, especially when looking to the likes of Charles Schwabb or the Blackstone Group. Some firms may also only specialize in financial services for a specific industry, and this may be beneficial to clients looking for focus and quality. Cain Brothers, for example, is a boutique investment bank that has a focus for the healthcare industry.

list of boutique investment banks

 

Working at a Boutique

As an employee of a boutique firm, there are many benefits that one would not get at a bulge bracket bank. While compensation packages may not be as attractive as those offered at bulge brackets, training and experience are more on hand and direct for those at boutiques. Due to their size, i-bankers at the boutique are better able to take direct responsibility for tasks and have more direct interactions with other people involved in transactions. In other words, a boutique banker may feel less like a cog in the wheel than a bulge bracket banker. Finally, while hours are still long compared to other industries, boutique investment banks tend to have more predictable hours when compared to bulge-bracket.

 

List of Potential Financial Services:

  • Underwriting of debt and equity securities
  • Mergers and acquisitions advisory
  • Connecting clients, especially with regards to IPOs or further stock offerings
  • Capital raising (not as common due to size of firms)

 

List of Boutique Investment Banks:

(Non-exhaustive list)
  • Allegiance Capital Corporation
  • Arma Partners
  • Berkery, Noyes & Co.
  • BG Capital
  • C.W. Downer
  • Cain Brothers
  • Cantor Fitzgerald
  • Capstone Partners
  • Corporate Finance Associates
  • CSG Partners
  • Europa Partners
  • Fennebresque & Co
  • Financo
  • Foros
  • Gleacher & Company
  • Guggenheim Partners
  • Imperial Capital
  • Keefe, Bruyette, & Woods
  • Ladenburg Thalmann
  • Lancaster Pollard
  • Lincoln International
  • Marathon Capital
  • Marlin & Associates
  • McColl Partners
  • Miller Buckfire & Co.
  • Montgomery & Co.
  • Morgan Keegan & Co.
  • Needham & Co.
  • Panmure Gordon
  • PCE Investment Bankers, Inc.
  • Roth Capital Partners
  • Sagent Advisors
  • Sonenshine Partners
  • Stephens, Inc.
  • Stifel Financial
  • Sucsy, Fischer & Company
  • WR Hambrecht & Co.
  • Ziegler

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Additional resources

We hope this list of boutique investment banks has been helpful!  Please check out our other free investment banking resources to help advance your career.  Some of our most popular, and relevant resources include: