DealZone

Evercore gets league table boost; Lazard left in the cold

Pfizer Inc’s $68 billion deal to buy Wyeth gave boutique investment banking firm Evercore Partners a huge jump in the rankings of merger advisers, while Lazard Ltd got left on the sidelines.

One mega-deal was enough to catapult Evercore, which advised Wyeth along with Morgan Stanley, into the list of Top 10 advisers. Evercore now stands at No. 7 for the global and U.S. rankings, up from No. 24 and No. 16 in 2008, according to data from Thomson Reuters.

Morgan Stanley stands at No. 2 globally with 15 deals, and No. 3 in the United States with 10 deals, according to Thomson Reuters.

Pfizer had an army of advisers that included Bank of America, Merrill Lynch, Goldman Sachs, JP Morgan, Barclays and Citigroup. Bank of America Merrill Lynch leads the global league tables, while Barclays Capital leads in the United States, according to Thomson Reuters.

One name missing from today’s news was Lazard, which has been Pfizer’s most active adviser going back to the early 1990s, according Thomson Reuters.

Thanks, Hank

dimon.jpgPoor Jamie Dimon. He bought Bear Stearns like he was told to by the Fed back when the financial crisis was just a shadow and a threat. Now JPMorgan, the bank he heads, is being lumped in with the rest of the herd in being put on $250 billion of bailout steroids that he probably doesn’t need or want. At best, this may just save the other players. At worst, it makes them stronger just when he’s in a position to run them over.

The New York Times said four of the banks getting injected will receive investments of $25 billion each: Citi, JPMorgan Chase, Bank of America and Wells Fargo. Goldman Sachs and Morgan Stanley will get $10 billion each, it said.

The U.S. banks had to be convinced to participate in the plan. “There was some arm twisting,” a source tells us. The non-voting, preferred shares being sold to taxpayers don’t directly challenge management, but they do come with executive comp restrictions. Perhaps bank CEOs fear the whole thing could be rewritten to be more expensive under a more liberal or maverick White House.