Earnings season in the summer of 2009 had made it clear that Goldman Sachs and JP Morgan are emerging as the two giants of the banking world.
But there is another trend in banking that’s gaining steam: Boutique investment banks are continuing to snatch market share in the aftermath of the Wall Street implosion that destroyed giants such as Lehman Brothers, Merrill Lynch and Bear Stearns.
According to the latest figures from Dealogic, Lazard and Evercore Partners seem to be emerging as big winners on the new Wall Street. In the first half of 2009, Lazard ranked as the 7th biggest bank in the global mergers and acquisitions deal market, up from the 11th spot in 2008. In addition, Evercore took the 11th spot, up from the 15th spot last year.