Boutique bank paying €580k average is trying again in Paris
More than three years after its aborted attempt to open a Paris office after the people it wanted to hire decided against joining, Financial News reports today that Evercore is back at it and plans a Paris launch with 15 people, under Laurence Hainault, the former head of Credit Suisse’s European technology media and telecoms dealmaking team who it hired in June.
15 people may not be a surge of hiring, but it's still good news for Paris bankers who get the jobs. Evercore is on track to pay its 2,245 global employees an average of $628k (€580k) in 2023. While Paris bankers might receive slightly less and many of Hainault's new colleagues will be juniors, compensation is still likely to be comparatively generous: in the US, Evercore pays its junior bankers starting salaries of $120k, plus bonuses.
Elite boutique Centerview has also been building in Paris under Matthieu Pigasse from Lazard. In the past few years Pigasse has recruited a range of other Lazard bankers to the Paris office, including Pierre Pasqual, Nicolas Constant. Last October, he branched out and hired ex-Barclays head of French M&A, Yann Krychowski.
Despite Centerview's hiring, it doesn't rank among the top Paris M&A houses for the first half, according to Dealogic. The only boutique ranking in the top 10 in France by M&A revenue this year is PJT Partners, which launched a Paris office last September under Emmanuel Guillemet, whom it hired from Rothschild.
If you want to work for a Paris boutique and can't get into PJT, Centerview or Evercore, there are alternatives. Dealogic says boutiques like Sycomore Corporate Finance (based in Paris), Altamoda (a new French boutique), William Blair, and Finexsi (based in Paris) are also big on the Paris advisory scene this year.
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