Thermonuclear hot take: the league tables don't mean as much as they used to

Before you all start throwing monkey shit, hear me out...

I argue the boutique model has changed things. Currently CITIC and Bank of China are in the top 10: https://markets.ft.com/data/league-tables/tables-and-trends

That said, would you rather be there or Moelis, Evercore, Qatalyst, etc.? Not sure how the new CSFB will shake out but that will be interesting to watch. Perhaps a better way forward is the ratio of deal revenue to employees, not just deal revenue in absolute. This would reward heavy hitters like Allen & Co or M. Klein. It might also be a way to evaluate middle market players if you're looking for better lifestyle, instead of just blind asking this forum and hearing back "yeah I heard from a guy who's friend's sister's cousin is at ____ that they're a good shop".

The nice thing about banking is that results are quantifiable, meaning we're either winning the trust of companies to earn mandates or we're not.

What do you think? Is revenue/employees a better way to look at things than just revenue?

 

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