- REUTERS/Jason Reed
- Three partners of M&A boutique Robey Warshaw shared profits of more than £63 million, according to latest accounts.
- Profits up by around 75% on the previous year after bagging roles on series of huge takeover deals.
- Partner with the biggest share made £37 million.
LONDON – The three partners of Robey Warshaw, a Mayfair-based M&A advisory firm, shared a profit pool of £63.3 million ($85.2 million) last year, according to accounts filed on Wednesday.
The firm brought in £72.7 million in revenue in the year ended March 31, 2017, an increase of around 70% on the previous year, after scoring roles on a series of huge takeover deals. The firm advised Reckitt Benckiser on its $17 billion offer for baby-formula maker Mead Johnson Nutrition, among others.
Robey Warshaw paid out £8.9 million in salaries to just 13 members of staff, giving an average pay packet of £684,000.
- The firm was set up by senior trio Sir Simon Robey, Simon Warshaw, and Philip Apostolides in 2013, who established books of business after careers at top global investment banks including Morgan Stanley.
- Last year the partners split a profit pot of more than £36 million.
- The three partners do not draw salaries but instead take a slice of the profits. The highest earner took home £37.3 million last year, according to the accounts, which is more than the firm’s total profit of £36.6 million in 2016.
The boutique is growing fee revenue rapidly. It earned £23.9 million in the year ended March 31, 2015, according to accounts filed in 2016. Robey Warshaw looks set to continue its stunning form, earning a place in the top 10 M&A boutiques in the world last year.
Former Morgan Stanley and UBS bankers Sir Simon Robey and Simon Warshaw advised on at least four mega-deals worth a total of $67 billion (£54.1 million) in 2016, the period captured by the latest accounts, against a backdrop of a cooling M&A market, according to figures from Dealogic.
Robey Warshaw did not immediately respond to an email seeking comment.