Some managers and investment bankers create their own boutique solo, others decide to partner with external shareholders.
The reduced activity on the mergers and acquisitions (M&A) market has not hindered his desire for emancipation. Last summer, Dominique Bazy, 58, left his job as Vice-Chairman Europe at UBS Investment Bank to launch Barber Hauler Capital Advisers with Pascal Hervé, 34, a pure product of the Swiss bank. At the steering wheel of a boutique which takes its name from sailing vocabulary and its initials from its founders, the two men value their address book … and benefit from Ricol Lasteyrie’s initial support via a private office left at their disposal.
For them, benefiting from a light and flexible structure is the key to their strategy. “We do not have to deal with decision centers external to our business but to focus on working together, which is what we have been doing for the past ten years at UBS,” says Dominique Bazy. “The structure we put in place allows us, to be more flexible and more responsive vis-à-vis our clients in downturns and to be structurally more creative in ideas generation”, says Pascal Hervé. Instead of starting solo, they could have enter Gruppo Banca Leonardo, with whom they had discussions.