Greenhill/Lazard Tale of two advisers

Earlier this month, two of the finest mergers advisers on Wall Street and in the City sold stock to the public. One of those deals, the $855m initial public offering of Lazard, garnered all the headlines. But Greenhill racked up the more enviable performance – outperforming its rival by about 20%. How come? After all, these are very similar companies more or less dependent on the same general market conditions. Both specialise in advising chief executives in the US and Europe on deals. Superfi...