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PJT Partners hikes pay by 19% as M&A boom rolls on at boutique bank

The firm put aside $159.2m in compensation costs in the first quarter, an increase of 19%

‘2022 is shaping up to be a year of strong performance for our firm as we delivered record first quarter results and enjoyed broad-based strength across all of our businesses,’ said Paul Taubman
‘2022 is shaping up to be a year of strong performance for our firm as we delivered record first quarter results and enjoyed broad-based strength across all of our businesses,’ said Paul Taubman Photo: Paul Bruinooge/Getty Images

Boutique investment bank PJT Partners’ fees from M&A work surged by 19% during the first quarter despite concerns that the conflict in Ukraine has stalled dealmaking.

The bank, started by former Morgan Stanley investment banker Paul Taubman in 2015, made $181.7m in advisory fees during the first quarter, it said in a 26 April statement announcing its results.

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