The WSJ noted in January 2016 that "boutique is a fuzzy label, defined as much by what these firms do (mostly give M&A advice) as what they don’t do (trading, lending, much in the way of underwriting).
[5] In September 2015 the FT wrote, "The concept of an advisory boutique dates back to the 1980s, when some of Wall Street’s biggest names ditched established banks to set up their own firms — often after legendary bust-ups.
Evercore Partners was founded in 1996 by Roger Altman and has a broader investment banking business than most independent firms, including equity research and underwriting services.
[7] In March 2012 the FT wrote, "a long-term and fundamental trend is coming back to the fore: the perennial fight between smaller boutique advisers and their bulge-bracket rivals has picked up pace.
[10] In March 2015 the Financial Post wrote, "in a coup that grabbed headlines ... Centerview Partners and another U.S. independent advisory firm, Lazard, shut out the majors in the year’s biggest deal [until that point]: the US$75 billion merger of Kraft Foods and H.J.
[7] Hugh McGee of Barclays (formerly Lehman Brothers), who earned a $13m bonus in 2013, told the FT in September 2015 that “between regulatory compliance and internal bureaucracy I found myself spending 80 per cent of my time on non-client activities, which is really not fun”.