For those actually in the industry

aworldapart
Mon, 05 May 2008 15:07:39 +0000

Actually, let me break it down to you some more, nodnard, because you seem to lack basic understanding of the investment banking field.

A ‘boutique’ in the truest sense of the word refers to a pure advisory house with no trading operations or asset management functions. It does no principal investing work; a ‘boutique’ only does M&A and Restructuring advisory.

You admitted yourself that LAM is indeed a big revenue-generating service that LAZ offers. Hence, not a pure advisory house. Thus, not a boutique.



“The people providing investment advice, whether it’s people like ourselves or some of the boutiques, have certainly gained market share,” Steven J. Golub, company vice chairman, said.



http://www.nytimes.com/2006/08/03/business/03lazard.html?adxnnl=1&adxnnlx=1210014150-BWHlTmudTcIkFpVo2cUF6Q

Furthermore, they have offices in over 15 countries, making them too large to be labeled a boutique. They’re certainly not a bulge-bracket, but not a boutique either.