2019 Vault Rankings
At a Glance
“Awesome culture and phenomenal colleagues—smart, hardworking, all around good people who positively challenge you and support your career development”
“Opportunities to take on a lot of responsibility while working on meaningful transactions and gaining a high level of client exposure”
“You have to work long hours”
“Occasionally some added stress from high level of responsibility and small deal teams”
“Classy, good boutique”
“Old school, elitist”
“Brutal work environment but interesting deal flow”
About Perella Weinberg Partners
Founded in June 2006 by Joseph Perella, Peter Weinberg and Terry Meguid, Perella Weinberg Partners provides advisory, asset management, and energy securities research, underwriting, and trading services. Its advisory business includes mergers and acquisitions, strategic advisory, financial restructuring, capital structure advisory, and private capital advisory initiatives. Its asset management unit focuses on alternative investment products (as of July 2018, the firm had $14.7 billion in assets under management).
Perella Weinberg Partners’ launch in 2006 was one of the most closely watched debuts in banking history. Today, the firm consists of approximately 650 employees, who work out of offices in New York, Houston, London, Abu Dhabi, Austin, Denver, Dubai, San Francisco, Calgary, Chicago and Los Angeles. Founder Joseph Perella made his name as a pioneer dealmaker at First Boston in the 1980s, then left to create Wasserstein, Perella & Co. with Bruce Wasserstein (the former chairman and CEO of Lazard). Perella’s last gig before founding Perella Weinberg Partners was as vice chairman of Morgan Stanley, where he became close with some of America’s top M&A talent. A shareholder revolt at Morgan Stanley-the ruckus that led to the 2005 resignation of chairman Philip Purcell-prompted Perella to leave the firm, sparking rumors that he would open his own boutique. Indeed he did, and several Morgan Stanley advisors jumped ship to join him, becoming Perella Weinberg Partners’ first hires. Prior to founding Perella Weinberg Partners, Peter Weinberg was the CEO of Goldman Sachs International and an accomplished banker as well, and Terry Meguid was Head of Worldwide Investment Banking at Morgan Stanley.
In its first 10 years, Perella Weinberg Partners has advised on transactions valued at more than $1 trillion, including monumental M&A deals like AT&T’s $108.7 billion acquisition of Time Warner, E.ON’s exchange of assets for REW’s stake in Innogy SE, followed by a public takeover offer for Innogy’s remaining float (€59 billion); Linde AG’s pending $67.2 billion merger with Praxair Inc.; Becton, Dickinson and Company’s pending $24.0 billion acquisition of C.R. Bard, Inc.; Altria in connection with AB InBev’s acquisition of SABMiller for more than $100 billion; Holcim’s amendments of key economic and governance parameters in relation to its €42 billion merger with Lagarge; Medtronic, Inc.’s $42.9 billion acquisition of Covidien plc.; Willis Group Holdings’s $18 billion merger with Towers Watson; and Numericable Group SA’s €15.5 billion acquisition of SFR Vivendi. In addition, Perella Weinberg Partners has worked on several high-profile restructuring engagements, including Seadrill, Fieldwood Energy, Memorial Production Partners, Bonanza Creek Energy, EnQuest Plc, Approach Resources, Atlas Resource Partners, California Resources Corporation, and Gulf Keystone Petroleum.
In 2014, Perella Weinberg Partners appointed Robert Steel as CEO. Steel’s career of almost 40 years in financial services includes both public and private sector experience. He is the former CEO of Wachovia Corporation, served as Under Secretary for Domestic Finance at the U.S. Department of the Treasury, and spent nearly 30 years at Goldman Sachs, where he ultimately became head of the global equities division, vice chairman and a member of the firm’s Management Committee. Most recently, he worked as New York City’s Deputy Mayor for Economic Development under Mayor Michael Bloomberg. Steel leads the firm alongside Joseph Perella, who continues to serves as Chairman; Peter Weinberg and Bobby Tudor, Co-Head’s of Advisory; and Terry Abdel-Meguid and Aaron Hood, Co-Heads of Asset Management.
In 2016, Perella Weinberg Partners combined with Tudor Pickering Holt & Co, a leading energy investment bank. The combination added an energy M&A advisory franchise along with an energy securities research, underwriting, and trading services business and $2 billion in assets under management to PWP. Prior to the combination, Tudor Pickering Holt & Co. had advised on more than $175 billion worth of energy services advisory assignments and more than $75 billion worth of capital markets transactions.
767 Fifth Avenue
New York, NY 10153
Phone: (212) 287-3200
Employer Type: Private
Chairman: Joseph Perella
CEO: Robert Steel
2018 Employees (All Locations): 650
San Francisco, CA
New York, NY
London, United Kingdom
Dubai, United Arab Emirated
Abu Dhabi, United Arab Emirates