Bud Light maker Anheuser-Busch InBev announced Wednesday that it wants to buy SABMiller.

The deal could be valued at as much as $100 billion, and if successful would be the biggest takeover this year.

Combined, the companies would be worth an estimated $275 billion.

That's great news for Wall Street.

Both Anheuser-Busch InBev and SABMiller have reached out to a handful of advisers at investments banks large and small, and the fees are likely to be hefty if the deal goes ahead.

Consultant Freeman and Co. estimates that if a formal bid of around $100 billion materializes, advisory fees for those working with the bidder — AB InBev — would be between $95 million and $115 million.

Advisers to SABMiller would be in line for between $100 million and $120 million.

So who's getting all the work?

Lazard is the lead advisor to Anheuser-Busch InBev. Three banks are advising SABMiller: JPMorgan, Morgan Stanley and, notably, Robey Warshaw, a 3-year-old, nine-person advisory boutique.

Here's what we know so far about which bankers are in on the deal:

Lazard

Alexander Hecker

Hecker is co-head of consumer and retail investment banking at independent investment bank Lazard.

He worked on the InBev-Anheuser Busch deal in 2008 in addition to the more recent Warren Buffett-3G Capital acquisition of Heinz. He has also previously worked on AB InBev’s acquisition of Grupo Modelo, and AmBev’s acquisition of Cerveceria Nacional Dominicana.

Hecker has a history of working with 3G Capital, the Brazilian private equity giant behind AB InBev. He also worked with the firm to take Burger King and Playboy Industries private.

Robey Warshaw

Simon Robey

Robey co-heads the London-based boutique with Simon Warshaw. Before founding his boutique advisory firm three years ago, he was head of UK investment banking and co-head of global mergers and acquisitions at Wall Street giant Morgan Stanley.

In addition to being a star dealmaker, he's also a professional standard singer, according to Financial News. He's chairman of the Royal Opera House board.

Simon Warshaw

Warshaw was the head of investment banking at UBS before joining Robey to form their boutique advisory firm.

He also worked on another giant transaction involving a US company and a UK-listed firm, working with Vodafone on the sale of its stake in Verizon Wireless to Verizon. That deal was valued at $130 billion.

JPMorgan

John Muncey

Muncey is head of JPMorgan's corporate finance team in the UK. He joined the bank from UBS. He was a managing director in the European consumer team at that bank.

Muncey has a history of expertise in the liquor and beverage industry. According to the FT, his clients include liquor giant Diageo and UK brewer Scottish and Newcastle, in addition to Cadbury Schweppes, Kraft, and Germany's Tchibo.

Dwayne Lysaght

Lysaght is JPMorgan's head of UK mergers and acquisition.

He has worked on a number of deals involving North American buyers and UK targets. He advised UK insurer Brit on its sale to Canadian peer Fairfax earlier this year, and previously worked with AbbVie on its aborted deal with UK pharmaceutical company Shire.

Morgan Stanley

Henry Stewart

Stewart runs UK and Irish investment banking for Morgan Stanley. He is a specialist in the consumer sector and a longtime adviser to SABMiller.

Paul Baker

Baker is an old-school British banker who heads corporate broking for Morgan Stanley. He assumed that role in 2004. Corporate broking is a practice unique to the UK, where public companies name one or more companies as retained advisers.

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Budweiser owner AB InBev has reached an agreement with Miller maker SABMiller to combine forces in the biggest beer deal of the decade.

AB InBev raised its offer for SABMiller to £44 ($67.62) a share, valuing the brewer at £71.2 billion ($109.4 billion).

Combined, the companies would be worth an estimated $275 billion.

The means a lot of work for Wall Street firms who are advising the companies on both sides.

Lazard is the lead advisor to Anheuser-Busch InBev.

Three banks are advising SABMiller: JPMorgan, Morgan Stanley and, notably, Robey Warshaw, a 3-year-old, nine-person advisory boutique.

Deutsche Bank is acting as corporate broker.

Here's what we know so far about which bankers are in on the deal:

Lazard

Alexander Hecker

Hecker is co-head of consumer and retail investment banking at independent investment bank Lazard.

He worked on the InBev-Anheuser Busch deal in 2008 in addition to the more recent Warren Buffett-3G Capital acquisition of Heinz. He has also previously worked on AB InBev’s acquisition of Grupo Modelo, and AmBev’s acquisition of Cerveceria Nacional Dominicana.

Hecker has a history of working with 3G Capital, the Brazilian private equity giant behind AB InBev. He also worked with the firm to take Burger King and Playboy Industries private.

Jean Greene

Green is a managing director at Lazard. She joined the firm in 1999, and has worked on deals involving Tyco, ITT, and Bon-Ton's acquisition of Saks. Before joining Lazard, Greene covered oil and gas companies at Smith Barney.

William Rucker

Rucker is the head of Lazard in London, and is known as one of UK's top advisers. In the past year alone he has worked on transactions involving UK companies Aldermore, Greene King, Quintain Estates and Polyus Gold, according to filings. He often gets involved in cross-border deals with the firm’s New York arm.

Charlie Foreman

Foreman joined Lazard in 2009 from Deutsche Bank, and typically focuses on capital markets transactions. He has also been working on the initial public offering of payment processing company World Pay, which listed in the UK Tuesday morning, making it a busy few days.

Robey Warshaw

Simon Robey

Robey co-heads the London-based boutique with Simon Warshaw. Before founding his boutique advisory firm three years ago, he was head of UK investment banking and co-head of global mergers and acquisitions at Wall Street giant Morgan Stanley.

In addition to being a star dealmaker, he's also a professional standard singer, according to Financial News. He's chairman of the Royal Opera House board.

Simon Warshaw

Warshaw was the head of investment banking at UBS before joining Robey to form their boutique advisory firm.

He also worked on another giant transaction involving a US company and a UK-listed firm, working with Vodafone on the sale of its stake in Verizon Wireless to Verizon. That deal was valued at $130 billion.

JPMorgan

John Muncey

Muncey is head of JPMorgan's corporate finance team in the UK. He joined the bank from UBS. He was a managing director in the European consumer team at that bank.

Muncey has a history of expertise in the liquor and beverage industry. According to the FT, his clients include liquor giant Diageo and UK brewer Scottish and Newcastle, in addition to Cadbury Schweppes, Kraft, and Germany's Tchibo.

Dwayne Lysaght

Lysaght is JPMorgan's head of UK mergers and acquisition.

He has worked on a number of deals involving North American buyers and UK targets. He advised UK insurer Brit on its sale to Canadian peer Fairfax earlier this year, and previously worked with AbbVie on its aborted deal with UK pharmaceutical company Shire.

Morgan Stanley

Henry Stewart

Stewart runs UK and Irish investment banking for Morgan Stanley. He is a specialist in the consumer sector and a longtime adviser to SABMiller.

Paul Baker

Baker is an old-school British banker who heads corporate broking for Morgan Stanley. He assumed that role in 2004. Corporate broking is a practice unique to the UK, where public companies name one or more companies as retained advisers.

Goldman Sachs

Gilberto Pozzi

London-based Pozzi is a consumer sector specialist and was promoted earlier this year from his role as head of M&A in Europe, the Middle East and Africa to global cohead of mergers and acquisitions. He joined Goldman in 1995 as an associate, and made partner in 2008. He has previously worked on deals for Unilever, Kraft Foods and Jimmy Choo.

Mark Sorrell

Sorrell is cohead of UK investment banking at Goldman Sachs, and is known as an excellent M&A technician. His father, Martin, is the chief executive of advertising giant WPP, while his two brothers also worked at Goldman Sachs for a period. Jonathan Sorrell is now chief financial officer at hedge fund man Group, while Robert Sorrell joined Moelis & Co in London last year.

Deutsche Bank

Ben Lawrence

Lawrence has worked on deals involving Shire, BTG, DP World, and Hammerson.

Simon Hollingsworth

Hollingsworth is a vice-president at Deutsche Bank. He joined the firm in June from Credit Suisse.

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Bud Light maker Anheuser-Busch InBev announced Wednesday that it has agreed a deal to buy SABMiller.

The deal is worth around $108 billion, and is set to be the biggest takeover so far this year.

That's great news for Wall Street.

Both Anheuser-Busch InBev and SABMiller have reached out to a handful of advisers at investments banks large and small, and the fees are going to be hefty.

Consultant Freeman and Co. previously estimated that advisory fees for those working with the bidder — AB InBev — would be between $95 million and $115 million.

Advisers to SABMiller would be in line for between $100 million and $120 million.

That doesn't include all the banks working on the financing of the transaction. AB InBev has obtained $75 billion of loans for the deal, in what is the biggest loan deal on record. 

So who's getting all the work?

Lazard is the lead adviser to Anheuser-Busch InBev, and there are another five banks advising on the deal, several of which are involved in the financing. They include Deutsche Bank, Barclays, Bank of America Merrill Lynch, BNP Paribas, and Standard Bank. 

Four banks are advising SABMiller: JPMorgan, Morgan Stanley, Goldman Sachs, and, notably, Robey Warshaw, a 3-year-old, nine-person advisory boutique.

Here's what we know about the bankers on the deal:

Lazard

Alexander Hecker

Hecker is cohead of consumer and retail investment banking at independent investment bank Lazard.

He worked on the InBev-Anheuser Busch deal in 2008 in addition to the more recent Warren Buffett-3G Capital acquisition of Heinz. He has also previously worked on AB InBev’s acquisition of Grupo Modelo, and AmBev’s acquisition of Cerveceria Nacional Dominicana.

Hecker has a history of working with 3G Capital, the Brazilian private equity giant behind AB InBev. He also worked with the firm to take Burger King and Playboy Industries private.

Jean Greene

Greene is a managing director at Lazard. She joined the firm in 1999 and has worked on deals involving Tyco, ITT, and Bon-Ton's acquisition of Saks. Before joining Lazard, Greene covered oil and gas companies at Smith Barney.

William Rucker

Rucker is the head of Lazard in London, and is known as one of UK's top advisers. In the past year alone he has worked on transactions involving UK companies Aldermore, Greene King, Quintain Estates, and Polyus Gold, according to filings. He often gets involved in cross-border deals with the firm’s New York arm.

Charlie Foreman

Foreman joined Lazard in 2009 from Deutsche Bank, and typically focuses on capital-markets transactions. He has also been working on the initial public offering of payment-processing company World Pay, which listed in the UK on Tuesday morning, making it a busy few days.

Other bankers on the deal at Lazard include Mario Skoff in New York, and Richard Shaw and Marcus Taylor in London.

Deutsche Bank

The Deutsche Bank team includes Bruce Evans, Bob Douglas, Simon Denny, Ben Lawrence, Andrew Tusa, and Simon Hollingsworth. Evans is one of the bank's most senior dealmakers, having previously coheaded M&A in the Americas. Denny runs investment banking in South Africa, while Tusa joined Deutsche Bank from Bank of America Merrill Lynch earlier this year as cohead of corporate broking. 

Lawrence has worked on deals involving Shire, BTG, DP World, and Hammerson, while Hollingsworth is a vice president at Deutsche Bank. He joined the firm in June from Credit Suisse.

Barclays

Barclays' team is made up of Wilco Faessen, Gary Posternack, and Mark Todd. Faessen is a consumer-sector specialist, while Posternack is global head of M&A. Todd is a Europe-based M&A specialist.

BNP Paribas

The team at the French bank is made up of Eric Jacquemot, who coheads M&A in Europe, and Bjorn De Carro, who is a consumer-goods specialist.

Bank of America Merrill Lynch

The team is made up of veteran consumer and retail-banking specialist Federico Aliboni and Michael Findlay, who coheads UK investment banking. Geoff Iles, an M&A banker who was promoted to managing director last year, also worked on the deal.

Standard Bank

Fradreck Shoko, Ian Carton, and Clive Potter are advising AB Inbev in relation to African matters. 

Robey Warshaw

Simon Robey

Robey coheads the London-based boutique with Simon Warshaw. Before founding his boutique advisory firm three years ago, he was head of UK investment banking and cohead of global mergers and acquisitions at Wall Street giant Morgan Stanley.

In addition to being a star dealmaker, he's also a professional standard singer, according to Financial News. He's chairman of the Royal Opera House board.

Simon Warshaw

Warshaw was the head of investment banking at UBS before joining Robey to form their boutique advisory firm.

He also worked on another giant transaction involving a US company and a UK-listed firm, working with Vodafone on the sale of its stake in Verizon Wireless to Verizon. That deal was valued at $130 billion.

JPMorgan

John Muncey

Muncey is head of JPMorgan's corporate-finance team in the UK. He joined the bank from UBS. He was a managing director in the European consumer team at that bank.

Muncey has a history of expertise in the liquor and beverage industry. According to the FT, his clients include liquor giant Diageo and UK brewer Scottish and Newcastle, in addition to Cadbury Schweppes, Kraft, and Germany's Tchibo.

Dwayne Lysaght

Lysaght is JPMorgan's head of UK mergers and acquisition.

He has worked on a number of deals involving North American buyers and UK targets. He advised UK insurer Brit on its sale to Canadian peer Fairfax earlier this year, and previously worked with AbbVie on its aborted deal with UK pharmaceutical company Shire.

Morgan Stanley

Henry Stewart

Stewart runs UK and Irish investment banking for Morgan Stanley. He is a specialist in the consumer sector and a longtime adviser to SABMiller.

Paul Baker

Baker is an old-school British banker who heads corporate broking for Morgan Stanley. He assumed that role in 2004. Corporate broking is a practice unique to the UK, where public companies name one or more companies as retained advisers.

Goldman Sachs

Gilberto Pozzi

London-based Pozzi is a consumer-sector specialist and was promoted earlier this year from his role as head of M&A in Europe, the Middle East, and Africa to global cohead of mergers and acquisitions. He joined Goldman in 1995 as an associate, and made partner in 2008. He has previously worked on deals for Unilever, Kraft Foods, and Jimmy Choo.

Mark Sorrell

Sorrell is cohead of UK investment banking at Goldman Sachs, and is known as an excellent M&A technician. His father, Martin, is the chief executive of advertising giant WPP, while his two brothers also worked at Goldman Sachs for a period. Jonathan Sorrell is now chief financial officer at hedge fund Man Group, while Robert Sorrell joined Moelis & Co. in London last year.

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Boutique banks have had a good run recently.

In the past year, small shops like Centerview Partners and Robey Warshaw have taken the lead on deals like the Kraft-Heinz merger last March and more recently bids by Deutsche Boerse and the Intercontinental Exchange for the London Stock Exchange.

The conventional thinking on the rise of tiny banks is that it reflects the power of relationships that bankers like Blair Effron and Paul Taubman built over long careers at big Wall Street firms. They also promise a level of focus — working on only a handful of deals a year — that huge banks can't offer.

The Wall Street Journal's Liz Hoffman this week fleshed out another explanation for the rise of the boutiques — and it has less to do with those firms themselves than with a looming problem within their larger rivals.

Essentially, Hoffman reports, bigger banks are ceding major deals to the boutiques because, amid a takeover boom, they face too many conflicts of interest with other clients.

Sometimes that's because the bank's own reputational risk committee or other overseers of key relationships know to stay away from a potential client. A bank that values its relationship with a big client won't risk that by working for a rival.

But often it is the clients that make that decision.

One example Hoffman gave was JPMorgan, which the drugmaker Perrigo last year hired as an adviser to help dodge a takeover bid from Mylan. JPMorgan lost Perrigo's business after working on a separate deal — Allergan's sale of its generic drug unit to Teva — that in a convoluted way had a positive impact on Mylan. Perrigo wasn't pleased.

The fact that some industries have seen a lot of consolidation recently doesn't help the bigger banks, either. Hoffman writes that one thing companies look at when hiring advisers is the past work they've done, and that gets messier and messier as companies combine or compete for fewer assets.

Boutiques aren't quite so sprawled out, and they face less of these problems.

Read the full WSJ story here»

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LONDON – Robey Warshaw, a Mayfair-based M&A advisory firm with around 20 employees, made $105 million (£85 million) in fees in 2016, according to figures from Dealogic.

The firm, set up by former Morgan Stanley and UBS bankers Simon Robey and Simon Warshaw, advised on four mega-deals worth a total of $67 billion (£54.1 million) in 2016 against a backdrop of a cooling M&A market.

The boutique is growing fee revenue rapidly. It earned £23.9 million in the year ended March 31, 2015, according to accounts filed last year. The partners didn't draw a salary, but accounts show the "a profit of £9,414,881 is provisionally attributable"to the highest-earning member of the firm.

In 2016, Robey Warshaw advised Softbank on its £24 billion ($29.7 billion) takeover of chipmaker ARM as well as on the National Grid's sale of a majority shareholding in its UK gas distribution business. The firm declined to comment on the Dealogic data.

Here's the Dealogic table for global M&A boutiques: Meanwhile, total global deal volume dropped to $3.7 trillion (£2.9 trillion) from last year's record high of $4.7 trillion (£3.8 trillion). The dip follows three year-on-year rises.

Here's how that looks in context:UK M&A plunged more than 50% in 2016, as political uncertainty and currency volatility hit dealmaking:The value of withdrawn M&A topped $839 billion (£677.9 billion) globally in 2016, the highest since 2008.

"Two of the top five $100bn+ withdrawn deals on record, were pulled in 2016, led by Pfizer’s $160bn bid for Allergan, withdrawn in April 2016 – the largest withdrawn deal on record," Dealogic said.

The fourth quarter of 2016 was more promising. The average deal size was $304 million (£245.6 million) – the highest quarterly average on record.

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LONDON – The three partners of Robey Warshaw, a Mayfair-based M&A advisory firm, shared a profit pool of £36.6 million ($42.9 million), according to accounts filed on Tuesday.

The firm brought in £43.2 million in revenue in the year ended March 31, 2016, after scoring roles on a series of huge takeover deals, including advising SABMiller on its proposed tie up with Anheuser Busch InBev. 

The firm, set up by senior trio Simon Robey, Simon Warshaw and Philip Apostolides in 2013, paid out £6.1 million in expenses, including £5 million to 11 members of staff. 

The three partners do not draw salaries but instead take a slice of the profits, with the highest earner making £18.2 million. The Times reported the story earlier, naming Simon Robey as the partner who earned the most.

The boutique is growing fee revenue rapidly. It earned £23.9 million in the year ended March 31, 2015, according to accounts filed last year.  And Robey Warshaw looks set to continue its stunning form, earning a place in the top 10 M&A boutiques in the world.

Former Morgan Stanley and UBS bankers Simon Robey and Simon Warshaw advised on at least four mega-deals worth a total of $67 billion (£54.1 million) in 2016 against a backdrop of a cooling M&A market, according to figures from Dealogic, earning more than £80 million in fees.

In 2016, Robey Warshaw advised Softbank on its £24 billion ($29.7 billion) takeover of chipmaker ARM as well as on the National Grid's sale of a majority shareholding in its UK gas distribution business. The firm has declined to comment on the Dealogic data.

Here is the Dealogic table for global M&A boutiques: Meanwhile, total global deal volume dropped to $3.7 trillion (£2.9 trillion) from last year's record high of $4.7 trillion (£3.8 trillion). The dip follows three year-on-year rises.

Here is how that looks in context:UK M&A plunged more than 50% in 2016, as political uncertainty and currency volatility hit dealmaking:

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Reckitt Benckiser, the British maker of Durex condoms, is buying the baby-formula maker Mead Johnson Nutrition for about $17 billion — and a handful of banks stand to earn tens of millions of dollars in fees.

The London-based boutique bank Robey Warshaw and Bank of America Merrill Lynch were the joint lead advisers to Reckitt. Along with Deutsche Bank and HSBC, they could earn $40 million to $50 million in advisory fees, according to the consultant Freeman & Co.

On the sell side, Goldman Sachs and Morgan Stanley could split $50 million to $60 million for their work advising Mead Johnson.

The deal is one of the largest announced this year. And for Robey Warshaw, landing a role on it is part of a strong run the firm has had in the past year.

The firm earned $105 million in fees in 2016, according to data from Dealogic, advising on $67 billion worth of deals.

Robey Warshaw advised Softbank on its $30 billion deal for the chipmaker ARM, the London Stock Exchange on its sale to Deutsche Boerse, and SABMiller on its deal for Anheuser-Busch InBev.

It was founded in 2013 by the ex-Morgan Stanley banker Simon Robey and the ex-UBS banker Simon Warshaw. It has about 20 employees, who do not draw salaries but instead take a slice of profits.

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• Three partners of M&A boutique Robey Warshaw shared profits of more than £63 million, according to latest accounts.
• Profits up by around 75% on the previous year after bagging roles on series of huge takeover deals.
• Partner with the biggest share made £37 million.

LONDON – The three partners of Robey Warshaw, a Mayfair-based M&A advisory firm, shared a profit pool of £63.3 million ($85.2 million) last year, according to accounts filed on Wednesday.

The firm brought in £72.7 million in revenue in the year ended March 31, 2017, an increase of around 70% on the previous year, after scoring roles on a series of huge takeover deals. The firm advised Reckitt Benckiser on its $17 billion offer for baby-formula maker Mead Johnson Nutrition, among others.

Robey Warshaw paid out £8.9 million in salaries to just 13 members of staff, giving an average pay packet of £684,000.

• The firm was set up by senior trio Sir Simon Robey, Simon Warshaw, and Philip Apostolides in 2013, who established books of business after careers at top global investment banks including Morgan Stanley.
• Last year the partners split a profit pot of more than £36 million.
• The three partners do not draw salaries but instead take a slice of the profits. The highest earner took home £37.3 million last year, according to the accounts, which is more than the firm's total profit of £36.6 million in 2016. 

The boutique is growing fee revenue rapidly. It earned £23.9 million in the year ended March 31, 2015, according to accounts filed in 2016. Robey Warshaw looks set to continue its stunning form, earning a place in the top 10 M&A boutiques in the world last year.

Former Morgan Stanley and UBS bankers Sir Simon Robey and Simon Warshaw advised on at least four mega-deals worth a total of $67 billion (£54.1 million) in 2016, the period captured by the latest accounts, against a backdrop of a cooling M&A market, according to figures from Dealogic.

Robey Warshaw did not immediately respond to an email seeking comment.

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• Three-partner boutique Robey Warshaw scored a mandate on Comcast's £22 billion offer for Sky.
• The firm's profits were up by around 75% last year after bagging roles on series of huge takeover deals.

LONDON – Life is busy for the three partners and 13 employees at London boutique Robey Warshaw.

The tiny advisory firm, founded just four years ago by former Morgan Stanley and UBS bankers Sir Simon Robey and Simon Warshaw, has landed a series of huge deals in recent years. The latest is a role advising Comcast on its £22 billion ($30.9 billion) bid for Sky.

Comcast officially offered £12.50 per share for the British-based European broadcaster on Wednesday. Investment banks Evercore and Bank of America Merrill Lynch are working on the deal alongside Robey Warshaw. Comcast's bid represents a premium of £1.45 on Monday's closing price for Sky shares and a 16% premium on the current offer from Murdoch's 21st Century Fox.

Robey Warshaw's role on the offer suggests 2018 could be another bumper year for the Mayfair-based partnership. The firm brought in £72.7 million in revenue in the year ended March 31, 2017, an increase of around 70% on the previous year, after scoring roles on a series of huge takeover deals. The firm advised Reckitt Benckiser on its $17 billion offer for baby-formula maker Mead Johnson Nutrition, among others.

The performance translated to huge sums for employees.The firm paid out £8.9 million in salaries to its 13 staff members last year, giving an average pay packet of £684,000. Meanwhile, the three partners do not draw salaries but instead take a slice of the profits.

The highest earner took home £37.3 million last year, according to accounts filed in January, which is more than the firm's total profit of £36.6 million in 2016. The partners shared a total profit pool of £63.3 million ($85.2 million) last year.

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Bud Light maker Anheuser-Busch InBev announced Wednesday that it wants to buy SABMiller.

The deal could be valued at as much as $100 billion, and if successful would be the biggest takeover this year.

Combined, the companies would be worth an estimated $275 billion.

That's great news for Wall Street.

Both Anheuser-Busch InBev and SABMiller have reached out to a handful of advisers at investments banks large and small, and the fees are likely to be hefty if the deal goes ahead.

Consultant Freeman and Co. estimates that if a formal bid of around $100 billion materializes, advisory fees for those working with the bidder — AB InBev — would be between $95 million and $115 million.

Advisers to SABMiller would be in line for between $100 million and $120 million.

So who's getting all the work?

Lazard is the lead advisor to Anheuser-Busch InBev. Three banks are advising SABMiller: JPMorgan, Morgan Stanley and, notably, Robey Warshaw, a 3-year-old, nine-person advisory boutique.

Here's what we know so far about which bankers are in on the deal:

Lazard

Alexander Hecker

Hecker is co-head of consumer and retail investment banking at independent investment bank Lazard.

He worked on the InBev-Anheuser Busch deal in 2008 in addition to the more recent Warren Buffett-3G Capital acquisition of Heinz. He has also previously worked on AB InBev’s acquisition of Grupo Modelo, and AmBev’s acquisition of Cerveceria Nacional Dominicana.

Hecker has a history of working with 3G Capital, the Brazilian private equity giant behind AB InBev. He also worked with the firm to take Burger King and Playboy Industries private.

Robey Warshaw

Simon Robey

Robey co-heads the London-based boutique with Simon Warshaw. Before founding his boutique advisory firm three years ago, he was head of UK investment banking and co-head of global mergers and acquisitions at Wall Street giant Morgan Stanley.

In addition to being a star dealmaker, he's also a professional standard singer, according to Financial News. He's chairman of the Royal Opera House board.

Simon Warshaw

Warshaw was the head of investment banking at UBS before joining Robey to form their boutique advisory firm.

He also worked on another giant transaction involving a US company and a UK-listed firm, working with Vodafone on the sale of its stake in Verizon Wireless to Verizon. That deal was valued at $130 billion.

JPMorgan

John Muncey

Muncey is head of JPMorgan's corporate finance team in the UK. He joined the bank from UBS. He was a managing director in the European consumer team at that bank.

Muncey has a history of expertise in the liquor and beverage industry. According to the FT, his clients include liquor giant Diageo and UK brewer Scottish and Newcastle, in addition to Cadbury Schweppes, Kraft, and Germany's Tchibo.

Dwayne Lysaght

Lysaght is JPMorgan's head of UK mergers and acquisition.

He has worked on a number of deals involving North American buyers and UK targets. He advised UK insurer Brit on its sale to Canadian peer Fairfax earlier this year, and previously worked with AbbVie on its aborted deal with UK pharmaceutical company Shire.

Morgan Stanley

Henry Stewart

Stewart runs UK and Irish investment banking for Morgan Stanley. He is a specialist in the consumer sector and a longtime adviser to SABMiller.

Paul Baker

Baker is an old-school British banker who heads corporate broking for Morgan Stanley. He assumed that role in 2004. Corporate broking is a practice unique to the UK, where public companies name one or more companies as retained advisers.

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Budweiser owner AB InBev has reached an agreement with Miller maker SABMiller to combine forces in the biggest beer deal of the decade.

AB InBev raised its offer for SABMiller to £44 ($67.62) a share, valuing the brewer at £71.2 billion ($109.4 billion).

Combined, the companies would be worth an estimated $275 billion.

The means a lot of work for Wall Street firms who are advising the companies on both sides.

Lazard is the lead advisor to Anheuser-Busch InBev.

Advising SABMiller are JPMorgan, Morgan Stanley, Goldman Sachs, and Robey Warshaw, a 3-year-old, nine-person advisory boutique.

Deutsche Bank is acting as corporate broker.

Here's what we know so far about which bankers are in on the deal:

Lazard

Alexander Hecker

Hecker is co-head of consumer and retail investment banking at independent investment bank Lazard.

He worked on the InBev-Anheuser Busch deal in 2008 in addition to the more recent Warren Buffett-3G Capital acquisition of Heinz. He has also previously worked on AB InBev’s acquisition of Grupo Modelo, and AmBev’s acquisition of Cerveceria Nacional Dominicana.

Hecker has a history of working with 3G Capital, the Brazilian private equity giant behind AB InBev. He also worked with the firm to take Burger King and Playboy Industries private.

Jean Greene

Greene is a managing director at Lazard. She joined the firm in 1999, and has worked on deals involving Tyco, ITT, and Bon-Ton's acquisition of Saks. Before joining Lazard, Greene covered oil and gas companies at Smith Barney.

William Rucker

Rucker is the head of Lazard in London, and is known as one of UK's top advisers. In the past year alone he has worked on transactions involving UK companies Aldermore, Greene King, Quintain Estates and Polyus Gold, according to filings. He often gets involved in cross-border deals with the firm’s New York arm.

Charlie Foreman

Foreman joined Lazard in 2009 from Deutsche Bank, and typically focuses on capital markets transactions. He has also been working on the initial public offering of payment processing company World Pay, which listed in the UK Tuesday morning, making it a busy few days.

Robey Warshaw

Simon Robey

Robey co-heads the London-based boutique with Simon Warshaw. Before founding his boutique advisory firm three years ago, he was head of UK investment banking and co-head of global mergers and acquisitions at Wall Street giant Morgan Stanley.

In addition to being a star dealmaker, he's also a professional standard singer, according to Financial News. He's chairman of the Royal Opera House board.

Simon Warshaw

Warshaw was the head of investment banking at UBS before joining Robey to form their boutique advisory firm.

He also worked on another giant transaction involving a US company and a UK-listed firm, working with Vodafone on the sale of its stake in Verizon Wireless to Verizon. That deal was valued at $130 billion.

JPMorgan

John Muncey

Muncey is head of JPMorgan's corporate finance team in the UK. He joined the bank from UBS. He was a managing director in the European consumer team at that bank.

Muncey has a history of expertise in the liquor and beverage industry. According to the FT, his clients include liquor giant Diageo and UK brewer Scottish and Newcastle, in addition to Cadbury Schweppes, Kraft, and Germany's Tchibo.

Dwayne Lysaght

Lysaght is JPMorgan's head of UK mergers and acquisition.

He has worked on a number of deals involving North American buyers and UK targets. He advised UK insurer Brit on its sale to Canadian peer Fairfax earlier this year, and previously worked with AbbVie on its aborted deal with UK pharmaceutical company Shire.

Morgan Stanley

Henry Stewart

Stewart runs UK and Irish investment banking for Morgan Stanley. He is a specialist in the consumer sector and a longtime adviser to SABMiller.

Paul Baker

Baker is an old-school British banker who heads corporate broking for Morgan Stanley. He assumed that role in 2004. Corporate broking is a practice unique to the UK, where public companies name one or more companies as retained advisers.

Goldman Sachs

Gilberto Pozzi

London-based Pozzi is a consumer sector specialist and was promoted earlier this year from his role as head of M&A in Europe, the Middle East and Africa to global cohead of mergers and acquisitions. He joined Goldman in 1995 as an associate, and made partner in 2008. He has previously worked on deals for Unilever, Kraft Foods and Jimmy Choo.

Mark Sorrell

Sorrell is cohead of UK investment banking at Goldman Sachs, and is known as an excellent M&A technician. His father, Martin, is the chief executive of advertising giant WPP, while his two brothers also worked at Goldman Sachs for a period. Jonathan Sorrell is now chief financial officer at hedge fund man Group, while Robert Sorrell joined Moelis & Co in London last year.

Deutsche Bank

Ben Lawrence

Lawrence has worked on deals involving Shire, BTG, DP World, and Hammerson.

Simon Hollingsworth

Hollingsworth is a vice-president at Deutsche Bank. He joined the firm in June from Credit Suisse.

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Bud Light maker Anheuser-Busch InBev announced Wednesday that it has agreed a deal to buy SABMiller.

The deal is worth around $108 billion, and is set to be the biggest takeover so far this year.

That's great news for Wall Street.

Both Anheuser-Busch InBev and SABMiller have reached out to a handful of advisers at investments banks large and small, and the fees are going to be hefty.

Consultant Freeman and Co. previously estimated that advisory fees for those working with the bidder — AB InBev — would be between $95 million and $115 million.

Advisers to SABMiller would be in line for between $100 million and $120 million.

That doesn't include all the banks working on the financing of the transaction. AB InBev has obtained $75 billion of loans for the deal, in what is the biggest loan deal on record. 

So who's getting all the work?

Lazard is the lead adviser to Anheuser-Busch InBev, and there are another five banks advising on the deal, several of which are involved in the financing. They include Deutsche Bank, Barclays, Bank of America Merrill Lynch, BNP Paribas, and Standard Bank. 

Four banks are advising SABMiller: JPMorgan, Morgan Stanley, Goldman Sachs, and, notably, Robey Warshaw, a 3-year-old, nine-person advisory boutique.

Here's what we know about the bankers on the deal:

Lazard

Alexander Hecker

Hecker is cohead of consumer and retail investment banking at independent investment bank Lazard.

He worked on the InBev-Anheuser Busch deal in 2008 in addition to the more recent Warren Buffett-3G Capital acquisition of Heinz. He has also previously worked on AB InBev’s acquisition of Grupo Modelo, and AmBev’s acquisition of Cerveceria Nacional Dominicana.

Hecker has a history of working with 3G Capital, the Brazilian private equity giant behind AB InBev. He also worked with the firm to take Burger King and Playboy Industries private.

Jean Greene

Greene is a managing director at Lazard. She joined the firm in 1999 and has worked on deals involving Tyco, ITT, and Bon-Ton's acquisition of Saks. Before joining Lazard, Greene covered oil and gas companies at Smith Barney.

William Rucker

Rucker is the head of Lazard in London, and is known as one of UK's top advisers. In the past year alone he has worked on transactions involving UK companies Aldermore, Greene King, Quintain Estates, and Polyus Gold, according to filings. He often gets involved in cross-border deals with the firm’s New York arm.

Charlie Foreman

Foreman joined Lazard in 2009 from Deutsche Bank, and typically focuses on capital-markets transactions. He has also been working on the initial public offering of payment-processing company World Pay, which listed in the UK on Tuesday morning, making it a busy few days.

Other bankers on the deal at Lazard include Mario Skoff in New York, and Richard Shaw and Marcus Taylor in London.

Deutsche Bank

The Deutsche Bank team includes Bruce Evans, Bob Douglas, Simon Denny, Ben Lawrence, Andrew Tusa, and Simon Hollingsworth. Evans is one of the bank's most senior dealmakers, having previously coheaded M&A in the Americas. Denny runs investment banking in South Africa, while Tusa joined Deutsche Bank from Bank of America Merrill Lynch earlier this year as cohead of corporate broking. 

Lawrence has worked on deals involving Shire, BTG, DP World, and Hammerson, while Hollingsworth is a vice president at Deutsche Bank. He joined the firm in June from Credit Suisse.

Barclays

Barclays' team is made up of Wilco Faessen, Gary Posternack, and Mark Todd. Faessen is a consumer-sector specialist, while Posternack is global head of M&A. Todd is a Europe-based M&A specialist.

BNP Paribas

The team at the French bank is made up of Eric Jacquemot, who coheads M&A in Europe, and Bjorn De Carro, who is a consumer-goods specialist.

Bank of America Merrill Lynch

The team is made up of veteran consumer and retail-banking specialist Federico Aliboni and Michael Findlay, who coheads UK investment banking. Geoff Iles, an M&A banker who was promoted to managing director last year, also worked on the deal.

Standard Bank

Fradreck Shoko, Ian Carton, and Clive Potter are advising AB Inbev in relation to African matters. 

Robey Warshaw

Simon Robey

Robey coheads the London-based boutique with Simon Warshaw. Before founding his boutique advisory firm three years ago, he was head of UK investment banking and cohead of global mergers and acquisitions at Wall Street giant Morgan Stanley.

In addition to being a star dealmaker, he's also a professional standard singer, according to Financial News. He's chairman of the Royal Opera House board.

Simon Warshaw

Warshaw was the head of investment banking at UBS before joining Robey to form their boutique advisory firm.

He also worked on another giant transaction involving a US company and a UK-listed firm, working with Vodafone on the sale of its stake in Verizon Wireless to Verizon. That deal was valued at $130 billion.

JPMorgan

John Muncey

Muncey is head of JPMorgan's corporate-finance team in the UK. He joined the bank from UBS. He was a managing director in the European consumer team at that bank.

Muncey has a history of expertise in the liquor and beverage industry. According to the FT, his clients include liquor giant Diageo and UK brewer Scottish and Newcastle, in addition to Cadbury Schweppes, Kraft, and Germany's Tchibo.

Dwayne Lysaght

Lysaght is JPMorgan's head of UK mergers and acquisition.

He has worked on a number of deals involving North American buyers and UK targets. He advised UK insurer Brit on its sale to Canadian peer Fairfax earlier this year, and previously worked with AbbVie on its aborted deal with UK pharmaceutical company Shire.

Morgan Stanley

Henry Stewart

Stewart runs UK and Irish investment banking for Morgan Stanley. He is a specialist in the consumer sector and a longtime adviser to SABMiller.

Paul Baker

Baker is an old-school British banker who heads corporate broking for Morgan Stanley. He assumed that role in 2004. Corporate broking is a practice unique to the UK, where public companies name one or more companies as retained advisers.

Goldman Sachs

Gilberto Pozzi

London-based Pozzi is a consumer-sector specialist and was promoted earlier this year from his role as head of M&A in Europe, the Middle East, and Africa to global cohead of mergers and acquisitions. He joined Goldman in 1995 as an associate, and made partner in 2008. He has previously worked on deals for Unilever, Kraft Foods, and Jimmy Choo.

Mark Sorrell

Sorrell is cohead of UK investment banking at Goldman Sachs, and is known as an excellent M&A technician. His father, Martin, is the chief executive of advertising giant WPP, while his two brothers also worked at Goldman Sachs for a period. Jonathan Sorrell is now chief financial officer at hedge fund Man Group, while Robert Sorrell joined Moelis & Co. in London last year.

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Boutique banks have had a good run recently.

In the past year, small shops like Centerview Partners and Robey Warshaw have taken the lead on deals like the Kraft-Heinz merger last March and more recently bids by Deutsche Boerse and the Intercontinental Exchange for the London Stock Exchange.

The conventional thinking on the rise of tiny banks is that it reflects the power of relationships that bankers like Blair Effron and Paul Taubman built over long careers at big Wall Street firms. They also promise a level of focus — working on only a handful of deals a year — that huge banks can't offer.

The Wall Street Journal's Liz Hoffman this week fleshed out another explanation for the rise of the boutiques — and it has less to do with those firms themselves than with a looming problem within their larger rivals.

Essentially, Hoffman reports, bigger banks are ceding major deals to the boutiques because, amid a takeover boom, they face too many conflicts of interest with other clients.

Sometimes that's because the bank's own reputational risk committee or other overseers of key relationships know to stay away from a potential client. A bank that values its relationship with a big client won't risk that by working for a rival.

But often it is the clients that make that decision.

One example Hoffman gave was JPMorgan, which the drugmaker Perrigo last year hired as an adviser to help dodge a takeover bid from Mylan. JPMorgan lost Perrigo's business after working on a separate deal — Allergan's sale of its generic drug unit to Teva — that in a convoluted way had a positive impact on Mylan. Perrigo wasn't pleased.

The fact that some industries have seen a lot of consolidation recently doesn't help the bigger banks, either. Hoffman writes that one thing companies look at when hiring advisers is the past work they've done, and that gets messier and messier as companies combine or compete for fewer assets.

Boutiques aren't quite so sprawled out, and they face less of these problems.

Read the full WSJ story here»

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LONDON – Robey Warshaw, a Mayfair-based M&A advisory firm with around 20 employees, made $105 million (£85 million) in fees in 2016, according to figures from Dealogic.

The firm, set up by former Morgan Stanley and UBS bankers Simon Robey and Simon Warshaw, advised on four mega-deals worth a total of $67 billion (£54.1 million) in 2016 against a backdrop of a cooling M&A market.

The boutique is growing fee revenue rapidly. It earned £23.9 million in the year ended March 31, 2015, according to accounts filed last year. The partners didn't draw a salary, but accounts show the "a profit of £9,414,881 is provisionally attributable"to the highest-earning member of the firm.

In 2016, Robey Warshaw advised Softbank on its £24 billion ($29.7 billion) takeover of chipmaker ARM as well as on the National Grid's sale of a majority shareholding in its UK gas distribution business. The firm declined to comment on the Dealogic data.

Here's the Dealogic table for global M&A boutiques: Meanwhile, total global deal volume dropped to $3.7 trillion (£2.9 trillion) from last year's record high of $4.7 trillion (£3.8 trillion). The dip follows three year-on-year rises.

Here's how that looks in context:UK M&A plunged more than 50% in 2016, as political uncertainty and currency volatility hit dealmaking:The value of withdrawn M&A topped $839 billion (£677.9 billion) globally in 2016, the highest since 2008.

"Two of the top five $100bn+ withdrawn deals on record, were pulled in 2016, led by Pfizer’s $160bn bid for Allergan, withdrawn in April 2016 – the largest withdrawn deal on record," Dealogic said.

The fourth quarter of 2016 was more promising. The average deal size was $304 million (£245.6 million) – the highest quarterly average on record.

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LONDON – The three partners of Robey Warshaw, a Mayfair-based M&A advisory firm, shared a profit pool of £36.6 million ($42.9 million), according to accounts filed on Tuesday.

The firm brought in £43.2 million in revenue in the year ended March 31, 2016, after scoring roles on a series of huge takeover deals, including advising SABMiller on its proposed tie up with Anheuser Busch InBev. 

The firm, set up by senior trio Simon Robey, Simon Warshaw and Philip Apostolides in 2013, paid out £6.1 million in expenses, including £5 million to 11 members of staff. 

The three partners do not draw salaries but instead take a slice of the profits, with the highest earner making £18.2 million. The Times reported the story earlier, naming Simon Robey as the partner who earned the most.

The boutique is growing fee revenue rapidly. It earned £23.9 million in the year ended March 31, 2015, according to accounts filed last year.  And Robey Warshaw looks set to continue its stunning form, earning a place in the top 10 M&A boutiques in the world.

Former Morgan Stanley and UBS bankers Simon Robey and Simon Warshaw advised on at least four mega-deals worth a total of $67 billion (£54.1 million) in 2016 against a backdrop of a cooling M&A market, according to figures from Dealogic, earning more than £80 million in fees.

In 2016, Robey Warshaw advised Softbank on its £24 billion ($29.7 billion) takeover of chipmaker ARM as well as on the National Grid's sale of a majority shareholding in its UK gas distribution business. The firm has declined to comment on the Dealogic data.

Here is the Dealogic table for global M&A boutiques: Meanwhile, total global deal volume dropped to $3.7 trillion (£2.9 trillion) from last year's record high of $4.7 trillion (£3.8 trillion). The dip follows three year-on-year rises.

Here is how that looks in context:UK M&A plunged more than 50% in 2016, as political uncertainty and currency volatility hit dealmaking:

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Reckitt Benckiser, the British maker of Durex condoms, is buying the baby-formula maker Mead Johnson Nutrition for about $17 billion — and a handful of banks stand to earn tens of millions of dollars in fees.

The London-based boutique bank Robey Warshaw and Bank of America Merrill Lynch were the joint lead advisers to Reckitt. Along with Deutsche Bank and HSBC, they could earn $40 million to $50 million in advisory fees, according to the consultant Freeman & Co.

On the sell side, Goldman Sachs and Morgan Stanley could split $50 million to $60 million for their work advising Mead Johnson.

The deal is one of the largest announced this year. And for Robey Warshaw, landing a role on it is part of a strong run the firm has had in the past year.

The firm earned $105 million in fees in 2016, according to data from Dealogic, advising on $67 billion worth of deals.

Robey Warshaw advised Softbank on its $30 billion deal for the chipmaker ARM, the London Stock Exchange on its sale to Deutsche Boerse, and SABMiller on its deal for Anheuser-Busch InBev.

It was founded in 2013 by the ex-Morgan Stanley banker Simon Robey and the ex-UBS banker Simon Warshaw. It has about 20 employees, who do not draw salaries but instead take a slice of profits.

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• Three partners of M&A boutique Robey Warshaw shared profits of more than £63 million, according to latest accounts.
• Profits up by around 75% on the previous year after bagging roles on series of huge takeover deals.
• Partner with the biggest share made £37 million.

LONDON – The three partners of Robey Warshaw, a Mayfair-based M&A advisory firm, shared a profit pool of £63.3 million ($85.2 million) last year, according to accounts filed on Wednesday.

The firm brought in £72.7 million in revenue in the year ended March 31, 2017, an increase of around 70% on the previous year, after scoring roles on a series of huge takeover deals. The firm advised Reckitt Benckiser on its $17 billion offer for baby-formula maker Mead Johnson Nutrition, among others.

Robey Warshaw paid out £8.9 million in salaries to just 13 members of staff, giving an average pay packet of £684,000.

• The firm was set up by senior trio Sir Simon Robey, Simon Warshaw, and Philip Apostolides in 2013, who established books of business after careers at top global investment banks including Morgan Stanley.
• Last year the partners split a profit pot of more than £36 million.
• The three partners do not draw salaries but instead take a slice of the profits. The highest earner took home £37.3 million last year, according to the accounts, which is more than the firm's total profit of £36.6 million in 2016. 

The boutique is growing fee revenue rapidly. It earned £23.9 million in the year ended March 31, 2015, according to accounts filed in 2016. Robey Warshaw looks set to continue its stunning form, earning a place in the top 10 M&A boutiques in the world last year.

Former Morgan Stanley and UBS bankers Sir Simon Robey and Simon Warshaw advised on at least four mega-deals worth a total of $67 billion (£54.1 million) in 2016, the period captured by the latest accounts, against a backdrop of a cooling M&A market, according to figures from Dealogic.

Robey Warshaw did not immediately respond to an email seeking comment.

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• Three-partner boutique Robey Warshaw scored a mandate on Comcast's £22 billion offer for Sky.
• The firm's profits were up by around 75% last year after bagging roles on series of huge takeover deals.

LONDON – Life is busy for the three partners and 13 employees at London boutique Robey Warshaw.

The tiny advisory firm, founded just four years ago by former Morgan Stanley and UBS bankers Sir Simon Robey and Simon Warshaw, has landed a series of huge deals in recent years. The latest is a role advising Comcast on its £22 billion ($30.9 billion) bid for Sky.

Comcast officially offered £12.50 per share for the British-based European broadcaster on Wednesday. Investment banks Evercore and Bank of America Merrill Lynch are working on the deal alongside Robey Warshaw. Comcast's bid represents a premium of £1.45 on Monday's closing price for Sky shares and a 16% premium on the current offer from Murdoch's 21st Century Fox.

Robey Warshaw's role on the offer suggests 2018 could be another bumper year for the Mayfair-based partnership. The firm brought in £72.7 million in revenue in the year ended March 31, 2017, an increase of around 70% on the previous year, after scoring roles on a series of huge takeover deals. The firm advised Reckitt Benckiser on its $17 billion offer for baby-formula maker Mead Johnson Nutrition, among others.

The performance translated to huge sums for employees.The firm paid out £8.9 million in salaries to its 13 staff members last year, giving an average pay packet of £684,000. Meanwhile, the three partners do not draw salaries but instead take a slice of the profits.

The highest earner took home £37.3 million last year, according to accounts filed in January, which is more than the firm's total profit of £36.6 million in 2016. The partners shared a total profit pool of £63.3 million ($85.2 million) last year.

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• Boutique advisory Robey Warshaw is beating out the likes of Goldman Sachs, Bank of America, and Deutsche Bank in the UK M&A market.
• According to Bloomberg's global M&A ranking, Robey Warshaw has a market share of 20.4% in the UK.
• The firm has only three partners, but is involved in some of the biggest mergers around, including Comcast's bid for Sky.

LONDON — Robey Warshaw, a boutique advisory firm based in London, is beating the likes of Goldman Sachs, Bank of America, and Deutsche Bank in the UK M&A market, according to the latest rankings from Bloomberg.

According to Bloomberg's global M&A ranking, Robey Warshaw has a market share of 20.4% in the UK, behind only Barclays, JPMorgan and Morgan Stanley. The firm, which has just three partners and just over a dozen staff, has advised on just three deals so far in 2018, but those deals have a combined value of more than $65 billion.

Robey Warshaw's performance is so impressive that it is ranked 18th globally in dealmaking in 2018, with a 3.2% market share.

The boutique, founded four years ago by former Morgan Stanley and UBS bankers Sir Simon Robey and Simon Warshaw, has landed a series of huge deals in recent years.

Most recently it got a slice of the $21.7 billion deal between Vodafone and "cable cowboy" John Malone's Liberty Global, which saw Vodafone buy up Liberty's assets in Germany, the Czech Republic, Hungary, and Romania.

Robey Warshaw is also involved in advising US telecoms giant Comcast on its £22 billion ($30.9 billion) bid for Sky. That deal is subject to a bidding war between Comcast and Fox for the right to buy Sky.

Another successful year

The firm appears to be going from strength to strength. Last year it brought in £72.7 million in revenue, an increase of around 70% on the previous year, after scoring roles on a series of huge takeover deals. The firm advised Reckitt Benckiser on its $17 billion offer for baby-formula maker Mead Johnson Nutrition, among others.

The performance translated to huge sums for employees.The firm paid out £8.9 million in salaries to its 13 staff members last year, giving an average pay packet of £684,000. Meanwhile, the three partners do not draw salaries but instead take a slice of the profits.

The highest earner took home £37.3 million last year, according to accounts filed in January, which is more than the firm's total profit of £36.6 million in 2016. The partners shared a total profit pool of £63.3 million ($85.2 million) last year.

SEE ALSO: The 3 partners of a boutique Mayfair M&A firm made £63 million between them last year

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• The London Stock Exchange has agreed a $27 billion deal to buy data provider Refinitiv, just a year after the company was spun out of Thomson Reuters by Blackstone. 
• The deal is being led by some of the biggest names in M&A in London, with the likes of Goldman Sachs, Morgan Stanley, and Evercore all landing roles on the deal. 
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The London Stock Exchange has agreed a $27 billion deal to buy data provider Refinitiv, just a year after the company was spun out of Thomson Reuters by Blackstone. 

London Stock Exchange CEO David Schwimmer is a former Goldman Sachs banker with close ties to Blackstone. He moved in on the deal after negotiations slowed in rival exchange Deutsche Boerse's plans to buy Refinitiv's foreign-exchange trading business for $3 billion, according to Reuters. 

Blackstone could be set to double its money just 10 months after the private equity firm secured its initial deal last year. Refinitiv shareholders will ultimately hold around a 37% stake in LSE.

The deal was led by some of the biggest names in M&A in the London banking market. Here's what you need to know:

London Stock Exchange 

The London Stock Exchange was advised by Goldman Sachs, Morgan Stanley, Robey Warshaw, Barclays, and RBC Capital Markets, with consultancy Oliver Wyman and communications firm Teneo working on the deal. 

Goldman Sachs 

Goldman Sachs was a lead adviser on the deal, with a team made up of Francois Xavier de Mallmann, Mark Sorrell, James Lucas, and Charlie Lytle. 

De Mallmann is chairman of the investment banking division, and has long worked for the LSE, advising the exchange group on the sale of Russell Investments in 2015. He recently worked on the failed FCA-Nissan talks earlier this year, Reuters reported.

Sorrell is a mainstay of the UK M&A market as head of the bank's European M&A team. He is the son of Martin Sorrell, the founder of advertising agency WPP.

Lytle is cohead of the bank's corporate broking team and joined Goldman from Citi in 2016. His previous deals include Worldpay's tie up with Vantiv in 2018 and Standard Life's combination with Aberdeen Asset Management in 2017. 

Lucas was promoted to MD in 2017. 

Morgan Stanley

Morgan Stanley also served as a lead adviser on the deal with its team including Matthew Jarman, Mark Rawlinson, Vipin Chhajer, and Ben Grindley. 

Jarman  knows the LSE well, having been part of the NYSE's parent company ICE's bid to takeover the exchange in 2016. 

Rawlinson is a key figure at Morgan Stanley. Having previously been one of the UK's most respected M&A lawyers, he now heads up the bank's UK investment banking division as chairman. He advised Unilever on its defence when Kraft Heinz made an offer to buy the firm. 

Chhajer joined Morgan Stanley as an executive director from Deutsche Bank in 2018 where he was head of European fintech investment banking. And Grindley was part of the Morgan Stanley team which advised on the Comcast-Fox-Sky deal last year. 

Robey Warshaw

Robey Warshaw is an advisory firm based in London set up by veteran dealmakers Simon Robey and Simon Warshw, known in London advisory circles as "the two Simons." The Robey Warshaw team was comprised of Robey and Phillip Apostolides, both former Morgan Stanley bankers.

Robey used to be global head of M&A at Morgan Stanley while Apostolides was a senior investment banker. Last year the company punched well above its weight to be the 18th largest dealmaker globally, according to Firmex.

Barclays

British bank Barclays worked as an adviser, broker and sponsor on the LSE side of the deal, having been the main corporate broker to the exchange for some time. Its team was composed of Kunal Gandhi, Francesco Ceccato, Neal West, and Ben Plant.

Gandhi was a key advisor to the LSE on its failed merger with Deutsche Boerse in 2017 and is head of corporate broking at the bank. He also advised on the LSE's acquisition of a group of bond indices and an analytics platform from Citigroup for $685 million last year, according to Financial News.

Ceccato is co-head of Barclays' financial institutions group in Europe, the Middle East and Africa. 

West is an managing director at Barclays in its corporate broking division while Plant is head of corporate finance transaction governance at the bank. 

RBC Capital Markets 

RBC Capital Markets worked as corporate broker on the LSE team with bankers Oliver Asplin Hearsey and Marcus Jackson leading their side. Asplin Hearsey is a veteran financial institutions banker while Jackson is in corporate broking.

Oliver Wyman

John Romeo and Hiten Patel served as consultants for LSE from Oliver Wyman. 

Teneo

Lucas van Praag, Philip Gawith, and Doug Campbell served as communications advisors to LSE. 

Refinitiv 

Evercore

Evercore served as a financial advisor to Refinitiv. The team there included Jane Gladstone, Julian Oakley, and David Cox.

Gladstone is a senior managing director at Evercore based in New York and runs the firm's financial services corporate advisory team. She advised ICAP on the merger of its £1.1 billion ($1.3 billion) global voice broking and information business with Tullett Prebon.

Oakley is a former JPMorgan banker whose own firm, Braveheart, was bought by Evercore in 2006. He advises on a variety of M&A as well as equity and capital markets deals from London.

Cox is a New York-based managing director who formerly worked in M&A at Morgan Stanley. 

Canson Capital Partners

Canson Capital Partners is a boutique led by former HSBC bankers that came to prominence when the then-three-month-old firm advised Blackstone on its deal with Thomson Reuters. Matteo Canonaco and James Simpson worked as financial advisors to Refinitiv on behalf of Canson. 

Canonaco was formerly the head of financial sponsors at HSBC while Simpson was the former co-head of advisory for EMEA at the bank. 

Jefferies

Jefferies' financial institutions investment banking group managing director Alexander Yavorsky served as a financial advisor for Refinitiv. 

Eterna Partners

Eterna Partners' partner and cofounder Serra Balls and former G4S communications director Nigel Fairbrass served as communications advisor to Refinitiv.

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