Greenhill

Robert Greenhill founded Greenhill in 1996 as a boutique advisory firm, the thesis investment banks were conflicted. They earned from underwriting, advisory and trading. When Goldman advised a company to acquire another, Goldman wanted the deal to close because Goldman earned underwriting fees. Goldman's advice was contaminated by its own financial interest. Greenhill built the firm with pure advisory focus. No underwriting, no trading, no proprietary positions, just advice. Greenhill earned fees only from clients who paid for advice at 1% of transaction value. A 100 million deal earned 1 million in fees. The alignment was clean. Greenhill wanted deals to close, but only if right for the client.