Investment Banking

Paul Taubman fails to follow stellar earnings of boutique rivals

8% drop in fourth-quarter revenues contrasts with much better results at Lazard, Evercore and Moelis

Thursday 7 February 2019 at 13:27

PJT Partners, the independent investment bank launched five years ago by former Morgan Stanley dealmaker Paul Taubman, posted weaker-than-expected results for the fourth quarter of last year.

The boutique made $175.4m in the final quarter of 2018, an 8% reduction on the previous year and below analysts’ expectations of more than $200m.