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BofA Grows Research Platform

July 21, 2008 - Bank of America heeded investor demand by hiring nine additional analysts for its equity research division, the firm's head of equity research, Michael Rietbrock, told IDD.

Merrill Snags UBS Muni Bankers

July 7, 2008 - Merrill Lynch has scooped up nearly 30 public finance bankers from the ranks of the now-shuttered municipal group at UBS Securities--taking advantage of a 'once-in-a-decade opportunity' as its Wall Street neighbors shed staff to cope with subprime market-related losses, according to the firm's municipal chairman.

M&Ain't

July 7, 2008 - By now, it's a well-worn tale, this one relayed by an investment banker: A private equity firm in the process of acquiring a company in a deal that would normally take six months will now spend a year hoping to get it done. But at least they're trying. Extended deal time frames and the falloff by private equity firms in buying companies have been the hallmark of the first half of this year, and while industry participants predict a slight uptick, overall not much will change in the remaining six months of the year. Regardless, Wall Street banks, which have laid off thousands of bankers due to the market slowdown, will continue to feel pressure in their M&A business the remainder of the year.

Standing Out

June 30, 2008 - In IDD's latest roundtable, a group of seasoned buyout market dealmakers convened in the magazine's New York offices to explore various aspects of the M&A market and the topic of buyer differentiation. Transaction structures, seller expectations, deal sourcing, private equity firm marketing and the value of operations talent were issues that took center stage in the discussion attended by Benesch, Friedlander, Coplan & Aronoff executive chairman James Hill, Red Diamond Capital managing director Bret Russell, Lazard Middle Market co-chief executive David Solomon, Altus Capital Partners senior partner Elizabeth Burgess and Wynnchurch Capital managing director Charles 'Chip' Grace.

Do IPOs Lead To M&A?

June 30, 2008 - In order to win targets, it might pay for buyers to consider an option not always associated with the M&A market--IPOs. A recent academic study concludes that many companies close acquisitions within a few years of going public.

Appetite For PE Funds Still Strong

June 23, 2008 - It's no secret that private equity firms have been putting their money to work in a variety of investment avenues in 2008 other than leveraged buyout transactions. Investments in distressed debt, specialty finance companies and troubled businesses, coupled with growth capital infusions in banks have been commanding headlines, apparently to the consternation of institutional investors in private equity funds.

Healthcare Providers Need Care, Too

June 16, 2008 - A variety of factors are causing more hospitals and other healthcare organizations to seek turnaround and restructuring services.

Financial Services: Looking Ahead To The Hereafter

June 9, 2008 - Throughout the financial services space, companies are struggling to develop a going-forward plan that adjusts to life after easy credit. For some it's a struggle for survival, and for others it's about figuring out a niche in the new world. But for investors in the sector, with the new landscape has come opportunity.

M&A Lite

June 2, 2008 - If M&A is like a marriage, a joint venture is akin to a live-in courtship, and as many companies are discovering, the less-binding alternatives do have their advantages. This is especially true in a market in which companies are desperately seeking growth but remain hesitant to bet the farm on a particular combination.

UBS Alters I-Bank, Risk Leadership

May 19, 2008 - UBS announced new investment banking and risk management appointments last week.

Stepping Back

May 19, 2008 - It's been all too easy of late to get down in the dumps about what's going on with the economy, the credit mess and the M&A market, or lack thereof. But I experienced something in recent days that, in no uncertain terms, assured me that things can indeed get much worse, and it has nothing to do with the financial-services sector.

IPOs Poised For Slight Uptick

May 19, 2008 - Professionals at brokerages hope the pace of new initial public offering issuance will pick up now that the worst of the credit storm seems to have abated. This year Wall Street completed just over one-third of the number of IPOs it assembled in the first five months of 2007, but there is evidence that the market is changing course.

Morgan Stanley's Barnett Joins BofA

May 12, 2008 - As first reported by IDD, Phil Barnett is joining Bank of America after a 20-year career at Morgan Stanley, most recently as managing director and head of the firm's global insurance business.

Summit Raises First European Fund

May 5, 2008 - Summit Partners said last week it closed a new European private equity fund with euros 1 billion of commitments, marking the Boston firm's first exclusively-dedicated European investment vehicle, and wrapped up fundraising for its latest mezzanine debt fund at $825 million.

Catching Up, With Stefan Selig

May 5, 2008 - Stefan Selig, vice chairman of investment banking and global head of M&A at Bank of America, recently sat down with IDD to discuss his outlook on deal making and his plans for Bank of America's M&A business, among other things.