Greenhill’s Profit Tumbles 90% – Deal Journal – WSJ

Greenhill’s Profit Tumbles 90% – Deal Journal – WSJ.

Nader Nazemi-Greehill & Co.

Greenhill & Co.

Any firm that competes with Wall Street is welcome and should be able to strike a balance with the unfair advantages that Wall Street as a whole has. I will definitely invest in Greenhill & Co. 
 
Greenhill & Co. said its second-quarter profit fell 90% to $2.2 million on  significantly lower revenue from advisory services compared to last year’s strong quarter.
In after-hours trading, Greenhill shares fell as much as 14% before recovering to about even at $37.69.
Advisory revenue fell 47%, to $45 million in the quarter. Greenhill, an independent firm that competes with big Wall Street firms to win assignments advising companies on mergers and other activities, said the decline was due to fewer closed transactions in the quarter. Deal advisers typically collect the bulk of their fees at closing.
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