Greenhill & Co. Inc. is a boutique investment bank based in New York, focusing on mergers, acquisitions and restructurings.
The company is publicly traded but it is owned mostly by its managing directors. Founder Robert F. Greenhill had been chairman and chief executive officer of Smith Barney Inc. and also former head of M&A at Morgan Stanley. The firm is known for keeping costs low -- both in operational expenses and employee compensation. Barron's magazine recently called Greenhill "arguably the best-managed firm in recent years" on Wall Street.
Greenhill has been a small player in the merger-advisory business with about a 2% marketshare. It recently created a financing advisory and restructuring group, adding bankers in New York and London. The company also plans to extend into new industry sectors and regions, taking advantage of the turmoil at its major competitors. Meantime, it is spinning off its merchant-banking unit.
The company has said that it sees the financial crisis as an opportunity to invest in and grow all its businesses. It had grown its investment banking roster by 40% since 2008, poaching recruits from top rivals, and now has about 70 in all.
Greenhill is known for what's been called its "disciplined" compensation policy. It typically pays out a below Street average compensation average: 46% of revenue in pay, compared with 50% or higher at other firms.