List of Boutique Investment Banks

Boutique investment banks are specialized financial institutions that focus on providing a range of financial services to a specific group of clients or industries. They usually offers M&A advisory services, capital raising, financial restructuring and other types of corporate finance advice. In addition, they can offer research and analysis, trading and asset management services. Here's a list of boutique investment banks in the U.S. and worldwide.

Global Boutique Investment Banks

PJT Partners Inc, founded by Paul J. Taubman, is a global advisory-focused elite boutique investment bank. Formerly it was a M&A advisory arm of Blackstone Inc.
Cantor Fitzgerald is a global financial services firm and middle-market investment bank with more than 5,000 institutional clients worldwide. The company was established in 1945 and is one of the few remaining private partnerships left on Wall Street.
Cowen Inc is an international investment bank with full year revenue of over $2.1 billion and assets under management (AUM) of $16 billion. It was founded in 1918 and is headquartered in New York City. Today, it operates as a subsidiary of TD Securities.
Evercore Inc (formerly known as Evercore Partners) is a global boutique investment bank with more than 1,900 employees and over $5 trillion in announced M&A transactions.
Centerview Partners is an independent investment banking firm headquartered in New York, with additional offices in Los Angeles, San Francisco, Chicago, Palo Alto and London.
Guggenheim Partners is a global investment firm with over 2,200 professionals and assets under management (AUM) of more than $330 billion as of December 31, 2024.
Houlihan Lokey Inc is an independent advisory-focused boutique investment bank. It was established in 1972 and is headquartered in Los Angeles, California. It has more than 1,700 restructuring transactions in excess of $3.5 trillion. Currently, the company employs more than 2,600 people.
Lazard Inc, headquartered in Hamilton, Bermuda, is one of the leading investment banks with locations in 43 cities around the world. Lazard shares are listed on the New York Stock Exchange (NYSE) under the ticker symbol LAZ, with a market capitalization of over $6.0 billion as of February 2025.
Greenhill & Co is one of the leading boutique investment banks with headquarters at Manhattan, New York City and locations in Dallas, Chicago, Houston, San Francisco, London, Toronto, Melbourne, Sydney, Frankfurt, Madrid, Tel Aviv, Tokyo, Sao Paulo, Singapore, Stockholm and Hong Kong. It was founded in 1996 by M&A veteran Robert Greenhill, a pioneer of the modern M&A advisory business on Wall Street.
Moelis & Company, founded in 2007, is an independent investment bank with global headquarters in New York and over 20 offices worldwide. The company employs more than 1,000 staff.
Oppenheimer Holdings is a New York based investment bank and broker-dealer with an annual gross revenue of $1.25 billion, net income of $30 million, AUM of $44 billion and client assets under administration of $118 billion as of December 2023.
Established in 2006, Perella Weinberg Partners (Nasdaq: PWP) is a global advisory firm and boutique investment bank providing advisory and asset management products and services to institutions, corporations, governments and sovereign wealth funds. The company has offices in New York, Los Angeles, Chicago, Houston, San Francisco, Austin, Denver, Paris, Abu Dhabi, Munich and London.
Piper Sandler Companies, established in 1895, is an independent investment bank headquartered in Minneapolis, Minnesota. The company’s shares are listed on the New York Stock Exchange (NYSE).
Rothschild & Co, established in 1810, is an international investment bank and financial services firm headquartered in Paris and London. It was named world's best independent investment bank by Euromoney.

Middle Market & Industry-Focused Investment Banks

Allen & Company, headquartered in New York, is a boutique investment bank specializing in real estate, technology, healthcare, media, entertainment and sports sector.
Berkery, Noyes & Co LLC is one of the leading middle market investment banks with a focus on mergers and acquisitions and financial consulting services. The company has experience in the following segments: education, entertainment and leisure, financial technology, healthcare, media and marketing, online and mobile, and software.
Brown Brothers Harriman (BBH), established in 1818 in Philadelphia, is one of the largest and oldest private banks in the United States.
Allegiance Capital, based in Dallas, Texas, is the investment banking firm serving primarily privately-owned middle market companies.
Alantra Partners S.A. is an international investment bank and alternative asset manager with a focus on the mid-market.
Cain Brothers & Company is a healthcare investment bank operating as a division of KeyBanc Capital Markets. It focuses exclusively on the healthcare, medical technology and life sciences sector.
Capstone Headwaters is one of the biggest middle-market investment banks with 18 offices the United States and branches in the UK and Brazil.
Corporate Finance Associates (CFAW) is an investment banking firm providing M&A advisory services through more than 30 locations in the U.S., United Kingdom, Belgium, France, Switzerland, Netherlands, Denmark and Ireland.
CSG Partners LLC is an American boutique investment bank with offices in New York, San Francisco and Washington DC. It is a nation’s leader in ESOPs (employee stock ownership plans), mergers and acquisitions and capital advisory services for middle-market businesses.
Arma Partners LLP – An investment banking firm and M&A adviser specializing in the CMT sector (communications, media and technology). The company maintains offices in London (UK), New York, Palo Alto and Munich (Germany).
DCS Advisory – A leading North America-based M&A advisory firm created through integration of Sagent Advisors and Signal Hill LLC by Daiwa Securities Group. Sagent Advisors is a major independent investment bank with offices in Chicago, New York and Tysons Corner.
Europa Partners Ltd, based in London, is a boutique bank that provides a range of financial services, including mergers and acquisitions (M&A) advisory, capital raising and financial restructuring to a range of clients. It has a focus on the technology, healthcare and energy sectors and has completed a number of M&A transactions in these industries.
Fennebresque & Co, based in Charlotte, North Carolina, is active in technology sector, life sciences, food, nutrition & agriculture, government services (ADGS), manufacturing & industrial and consumer & retail.
Financo LLC, established in 1971 by Gilbert Harrison, is a retail and consumer boutique investment bank.
Foros Group, headquartered in New York, is an American M&A advisory firm. Financial Times called Foros one of the big fish among the boutique investment banks.
Keefe, Bruyette & Woods is an investment bank with locations in New York, Atlanta, Austin, Chicago, San Francisco, Richmond (Virginia), Boston (Massachusetts), Columbus, Ohio and Hartford, Connecticut.
Ladenburg Thalmann, based in Miami, provides brokerage and financial advisory services. The company also maintains offices in Boca Raton, Naples (Florida), New York, Melville and Calabasas, California.
Lancaster Pollard is mortgage and investment banking firm focused on serving healthcare and senior living sectors. The company was established in 1988 and is headquartered in Columbus, Ohio, with regional offices in California, Colorado, Texas, Minnesota, Kansas, Georgia and Pennsylvania.
Lincoln International LLC is an international boutique investment bank headquartered in Chicago, Illinois.
Marathon Capital LLC is a North American investment bank specializing in the global power and infrastructure markets. It has locations in New York, San Francisco and Chicago and representative office in Halifax, Canada.
Marlin & Associates (M&A) is an investment bank with numerous awards including Middle-Market Investment Bank of the Year, Boutique Investment Bank of the Year and Capital Raising Advisory Firm of the Year.
Miller Buckfire & Co is a specialist boutique focused on corporate restructurings and recapitalizations. It operates as a subsidiary of Stifel Financial Corp.
Montgomery & Co (formerly Digital Coast Partners), headquartered in Santa Monica, California, was a leading investment bank for media and technology companies.
Needham & Co. is an American boutique investment bank and asset management company with focus on growth companies. It was established in 1985 by George Needham, Raymond Godfrey and David Townes.
Panmure Gordon & Co – The UK-based stockbroker and investment bank. The firm is known for its close connection with the family of David Cameron. In 2017 Panmure Gordon was acquired by Ellsworthy Ltd, a division of Qatari investment bank QInvest.
PCE Investment Bankers, based in Orlando, Florida, is an investment firm offering financial advisory services to mid-market businesses. It has branches Atlanta, Chicago and New York.
Qatalyst Partners LP, founded in 2008, is the Silicon Valley technology-focused boutique investment bank headquartered in San Francisco. Qatalyst donated $500,000 to fight COVID 19.
Raymond James Financial, headquartered in St. Petersburg, Florida, has about 8,000 financial advisors in the U.S., Canada and abroad.
Roth Capital Partners, based in Newport Beach, California, specializes in the small-cap public market. It is a member of FINRA (Financial Industry Regulatory Authority) and SIPC (Securities Investor Protection Corporation).
Sandler O'Neill Partners, founded in 1988, was an investment banking firm with offices in New York, San Francisco, Atlanta, Chicago and Boston. In 2019, it was acquired by Piper Sandler.
Stifel Financial Corporation, headquartered in Saint Louis, Missouri, is an American wealth management and investment banking firm.
Ziegler & Company specializes in healthcare, education, senior living, general municipal and structured finance. The firm is licensed in all 50 states, D.C. and Puerto Rico.
Sonenshine Partners – A private boutique investment bank with offices in New York and London. The firm executed on more than $100 billion in transactions.
Stephens Inc, based in Little Rock, Arkansas, is one of the largest private investment banks in the United States with 28 offices nationwide.
Sucsy, Fischer & Company, established in 1972, was a middle market investment banking firm headquartered in Highland Park, Illinois.
WR Hambrecht + Co is a San Francisco-based investment bank founded by William Robert Hambrecht in 1998.

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Last updated April 30, 2025