UBS energy banker lured by boutique with big aspirations
Convincing a banker to join a boutique investment bank is never a hard sell. They pay better than the big banks, and their usually leaner organizational structures mean that promotion is more guaranteed. It could even have as part of the moving package.
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Dolly Meena joined boutique bank Greenhill & Co. in London earlier this week as a principal in the firm’s energy infrastructure and transition team. Meena joined the firm from UBS in the city, where she spent four years and was most recently an executive director in the Swiss bank’s energy and new energies team.
It’s never particularly difficult to lure a banker from a big bank to a boutique. Although Mizuho acquired Greenhill back in 2023, it kept the brand and its senior leadership team, including co-heads Kevin Costantino and David Wyles, as well as COO Patrick Suehnholz. Greenhill’s latest accounts, for FY2023, suggest that it paid an average of £307k per head in London that year.
The Greenhill acquisition is an important part of Mizuho's big plans. Financial News reported that the bank intended to break into the top 10 for investment banks in America - and it's already in the top 10 globally. Shiny new investment bankers are an important part of that strategy.
Leaving UBS doesn't take much convincing, either. Distracted by its digestion of Credit Suisse and an ongoing and extensive cost cutting program, its existing bankers have fallen by the wayside - with bonuses a disappointment for those that have been there since before the merger, as Meena was.
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