This quote in the FT from an unnamed Wall St executive about the future of Joseph Perella’s boutique bank is hilarious:

“‘Is Joe Perella a great banker? Yes,’” one Wall Street executive ranted last week, fists rapping the conference table. (emphasis added)

‘Has he hired other great bankers? Yes. Will he make money? Of course he will. Will he revolutionise investment banking and drive full-service firms out of business? I don’t think so.’”

Nevertheless, could be a ground floor opp for those willing to forsake gleaming espresso machines to get their coffee from the Starbucks from across the street. According to the FT, bankers (doesn’t say who, but think they mean senior bankers) are being offered $500,000, made up by an equity stake in the company and opportunities in PE deals.

They’re also looking for 25-30 junior bankers for their NY and London offices…