Investment Banking

When M&A music stops, these banks won’t have chairs

Some boutique bank stocks are positioned better than others for a downturn in M&A, so investors should take note

When M&A music stops, these banks won’t have chairs
Photo: iStockPhoto

On Wall Street, bankers know that merger booms come and go. Investors need to be aware of the risks when the music stops.

When activity dies down, a handful of boutique investment banks that specialise in M&A will be most exposed. But even among these firms, there are big differences that will matter.

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