Rothschild takes independent path
Lina Saigol - September 23 2008
The turmoil in the financial services industry is proving to be a major opportunity for two blue-chip institutions that stayed focused on providing independent advice, Lazard and NM Rothschild.
They steered clear of the complex financing deals that have left their bulge-bracket rivals with wounded balance sheets and preserved their reputations for providing strong strategic counsel, untainted by cross-selling.
Now, both groups are prospering as rivals seek help and the economic cycle brings their other great strength, restructuring practices, to the fore.
As jobs in the sector are shed by the thousands, Rothschild and Lazard are seeing advisory revenues soar.