Boutique Investment Banks

Boutique investment banks are non-full service investment banks that specialize in some particular aspects of investment banking. Following list shows the largest global boutique investment banks.

Blackstone Group L.P. – A premier global investment and advisory firm with over 2,100 employees in 20 offices worldwide. The company is the world's largest independent alternative asset manager with total assets under management of over $387 billion (September 30, 2017).

Brown Brothers Harriman (BBH) is the leading global asset servicing provider with assets under custody and administration of over $4.7 trillion.

Centerview Partners – Independent investment banking and advisory firm. It was founded in 2006 and is headquartered in New York with offices in London, Los Angeles and San Francisco.

Cowen Group, Inc. provides alternative investment management, investment banking and other services through Ramius LLC and Cowen and Company, LLC. As of November 1, 2017, the Group had assets under management of over $10 billion.

C.W. Downer & Co. is an independent global investment bank offering middle market M&A advisory services. The company was established in 1975 and is based in Boston, USA.

Duff & Phelps – A leading global financial advisory and investment banking firm with offices in North America, Europe and Asia.

Evercore Partners is a boutique advisory investment bank with more than $2 trillion in announced transactions and $9 billion in assets under management.

Greenhill & Co. – A leading boutique investment bank with offices in New York, San Francisco, London, Frankfurt, Stockholm, Sydney, Tokyo, Toronto, Chicago, Houston, Melbourne, Sao Paulo and Singapore.

Guggenheim Partners – A global financial services firm with 2,500 professionals in nine countries and over $295 billion in assets under management (September 2017). It provides investment banking, capital markets services, investment advisory solutions and other services.

Houlihan Lokey, Inc. – An independent, advisory-focused global investment bank. It is No.1 M&A Advisor for U.S. and No.1 Global Investment Banking Restructuring Advisor.

Investec – An international specialist bank and asset manager operating in the United Kingdom, South Africa, Australia and Europe. The company focuses on three core areas: Asset Management, Wealth & Investment and Specialist Banking. Investec has approx. £90 billion in total funds under management.

Jefferies LLC – A major global securities and investment banking firm headquartered in New York, United States.

Lazard Ltd – A leading financial advisory and asset management firm with offices in 27 countries. As of September 30, 2017, Lazard had assets under management (total AUM) of US$238 billion.

Lincoln International – An independent global investment bank with headquarters in Chicago, Illinois. It operates 16 offices in 14 countries in the Americas, Asia and Europe. The firm specializes in advisory services including sell-side M&A, buy-side M&A, debt advisory, growth equity, special situations, valuations and opinions, and pensions advisory.

Moelis & Company – A global investment bank based in New York, United States. As of August 3, 2017, it had a market capitalization of $2.7 billion.

Mediobanca – The leading Italian investment bank with branches in New York, Paris, Frankfurt, Istanbul, London, Madrid, Mexico City and Moscow.

N M Rothschild & Sons Ltd – A multinational investment banking company headquartered in London, the UK.

Oppenheimer & Co. – A leading investment bank and full-service investment firm. It operates as a subsidiary of Oppenheimer Holdings Inc, which hold client assets under administration of $80 billion.

Perella Weinberg Partners L.P. – A boutique investment banking firm with offices in New York, Denver, Austin, San Francisco, London, and Abu Dhabi. It provides advisory and asset management services to corporations, institutions and governments.

Piper Jaffray & Co. – A boutique investment banking and asset management firm with offices across the United States and in London, Hong Kong and Zurich.

Probitas Partners, L.P. – An independent global investment bank headquartered in San Francisco, USA, with additional offices in New York, Hong Kong and London.

Robert W. Baird & Co. – One of the largest full-service investment firms in the US with more than 100 offices around the globe. The company manages over $165 billion in client assets.

Sandler O'Neill Partners – A boutique investment bank established in 1988. It is headquartered in New York with offices in Boston, Chicago, San Francisco and Atlanta.

William Blair & Company – An independent and employee-owned global investment banking and wealth management firm with approximately $74 billion in assets under management (09/30/2017).

Top 10 Boutique Investment Banks

Blackstone
Brown Brothers Harriman
Lazard Ltd
Moelis & Co
Rothschild
Centerview Partners
Guggenheim Partners
Greenhill & Co
Houlihan Lokey, Inc
Jefferies LLC
Perella Weinberg Partners

Large and mid-sized Boutique Investment Banks

Allen & Company – A boutique investment bank headquartered in New York.
Alvarez & Marsal (A&M) – The consulting firm known for its turnaround and restructuring related practices.
Arma Partners – Located in London, the UK, the company provides corporate finance advisory services to CMT sector.
Berkery, Noyes & Co – A boutique investment banking firm providing debt and equity financing, M&A advisory and financial consulting services to companies in the middle-market.
BG Capital – With more than 20 years of experience, the firm provides mergers and acquisition advisory services for small and mid-cap clients.
BTG Pactual – The largest independent investment bank in Latin America.
Cain Brothers (medical services and medical technology industries)
Cantor Fitzgerald (capital markets investment bank)
Capstone Partners (independent middle market investment bank)
China International Capital Corp – One of China's largest investment banking companies.
CLSA Asia-Pacific Markets – Asia’s leading independent brokerage and investment group.
CSG Partners
Cantor Fitzgerald
Genesis Capital, LLC
CITIC Securities Company – A full-service investment bank in China.
Gleacher & Co.
Close Brothers Group
Cogent Partners
Guggenheim Partners
Corporate Finance Associates
Guosen Securities – A leading Investment Bank in China.
Daewoo Securities – The largest stock brokerage and investment banking firm by market cap in Korea.
Defoe Fournier & Cie
Edgeview Partners, L.P. – An investment banking firm serving middle-market clients.
Europa Partners
Financo, Inc. – A New York-based boutique investment bank.
Foros Group
FBR & Co (Friedman Billings Ramsey) was formerly known as FBR Capital Markets Corporation.
High Rock Partners – A boutique firm offering strategic and M&A advisory services, serving leaders of emerging growth and middle market companies.
Harris Williams & Co. – An investment bank specializing in advisory services for middle-market companies.
Imperial Capital, LLC
Keefe, Bruyette & Woods (KBW)
Ladenburg Thalmann
Lancaster Pollard
Marathon Capital
Marlin & Associates
McColl Partners
Miller Buckfire & Co. was acquired by Stifel Financial.
Montgomery & Co.
Morgan Keegan & Company was acquired by Raymond James Financial, Inc in 2012.
M. M. Warburg & Co. – A large German private investment bank.
Needham & Company, LLC
Pegasus Intellectual Capital Solutions LLC – A leading boutique investment bank engaged exclusively in corporate finance and specializes in crafting custom engineered solutions. Pegasus was named “2013 Investment Banking Boutique of the Year” by Acquisitions Finance Magazine.
Panmure Gordon & Co (PG&Co) – A British investment banking and institutional stockbroking firm.
Peter J. Solomon Company
Park Lane (sports finance advisory services)
Pottinger (Australia) – A leading independent financial and strategic advisory firm.
Roth Capital Partners
Raymond James Financial
Sagent Advisors
Sonenshine Partners
Sucsy, Fischer & Company
Stephens, Inc.
Stifel Financial
Stone Key Partners
Thomas Weisel Partners was acquired by Stifel Financial.
Vermilion Partners – An investment banking advisory firm based in China.
Wedbush Securities
WR Hambrecht & Co.