Goldman Sachs Group and Citigroup Inc, which took the lead in advising Pioneer and Exxon, respectively, are expected to garner the biggest share of the fees ...
FILE PHOTO: The Exxon logo is displayed agove the floor of the New York Stock Exchange shortly after the opening bell in New YorkNEW YORK - Petrie Partners, a boutique advisory firm known to few outside the energy industry, advised on Pioneer Natural Resources Co's $60 billion sale to Exxon Mobil, this year's biggest deal, alongside major investment banks.
A transaction of this size typically results in tens of millions of dollars worth of fees for advisory firms. For instance, earlier this year Centerview was paid about $88 million in fees for advising Seagen Inc on its $43 billion sale to Pfizer Inc, while buyside advisor Guggenheim Securities received roughly $49 million, according to data compiled by LSEG.
Denver-based Petrie, which is focused on advising on M&A in the shale industry, traces its roots back to Petrie Parkman & Co, an energy-focused boutique bank founded in 1989 that was acquired by Merrill Lynch in 2006. The firm was carved out from Bank of America in 2011. Inflation could come roaring back 1970s-style. Here are 4 reasons why markets should be concerned, according to Deutsche Bank. -- Bank of Nova Scotia is partnering with Sun Life Financial Inc.’s asset-management division to give the lender’s affluent clients in Canada the chance to tap into private credit and other alternative assets growing in popularity.
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