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Lots of misinformation |
| Message Name: |
Actually |
| Date Posted: |
05/27/2000 |
| In Reply To: |
your examples are not that relevant. tom hill worked at lehman in the 80s, at a time when it was at the top of ibanking. drexel was also greatly respected at the time. i'm sure if you go back 10 years you wont find any private equity shops with dlj employees either. thats because dlj was nothing then, however, dlj is now a strong firm and you'll definitley see them around these days. |
| Message: |
Shearson Lehman wasn't really considered to be a top M&A advisor in those days. Drexel had a top M&A department under Leon, and Bruce and Joe were great at First Boston. SLB's M&A business plan back in those days was to retain equity clients and leverage those relationships into M&A business, rather than winning stand-alone M&A duties. It's a very valid and effective way to do it, especially if your equity business runs like a machine.
But there were some pretty high profile deals that SLB was accused of running like amateur hour. Most likely, it was unfair criticism (the Halo Effect runs pretty deep when it comes to advisors), but for what it's worth, Tom Hill's troops were not generally regarded as 800-pound gorillas in the same way Chris Boisi's, Jeff Beck's, Rob Greenhill's and the Wasserella boys were.
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