Explainer Mergers & Acquisitions

Why boutique banks have come of age for M&A

There was a time for bankers working in M&A where big was beautiful. But this all changed after the financial crisis, as the FT’s James Fontanella-Khan explains. Tougher regulations and more controls on pay packages prompted a wave of bankers to set up their own boutique firms, which today control over 30 per cent of M&A fees.