Avoid Conflicts of Interest with Activist Hedge Funds and Private Equity Investors: the CEO of Greenhill & Company, Scott L. Bok, Reveals His Firm Strategy for 2013 and Beyond: an Exclusive Interview with the Wall Street Transcript

Wall Street Transcript

67 WALL STREET, New York - April 9, 2013 - The Wall Street Transcript has just published its Investment Banks and Asset Management Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

Topics covered: Increase In Investor Risk Tolerance - Asset Growth - Capital Flow Into Equities - Fixed Income Bonds

Companies include: Greenhill & Co Inc. (GHL)

In the following excerpt from the Investment Banks and Asset Management Report, the CEO of Greenhill & Company discusses the outlook for his company for investors:

TWST: You recently decided to focus more on the insurance sector. Tell us about your strategy behind that decision and how that increased focus will manifest.

Mr. Bok: We're always looking to add more talent to build up our capability in areas where we've already had success. The history of our firm is that we started 17 years ago as a group of generalist M&A bankers who didn't have any particular industry specialties. Starting about five or six years ago, we began to hire a number of partners who had spent 20-plus years in a particular sector. Insurance is one of those areas where we've had dedicated coverage for several years now.

We had quite a lot of success with some significant transactions, and so it seemed like a good area to add some new talent so we can cover a broader range of companies in the life as well as the property and casualty insurance sectors.

TWST: What key competitive advantages do you believe you have over firms comparable to yours?

Mr. Bok: I think our biggest advantage is that we are a pure advisory firm. We have no conflicts of interest that come from investing or trading or research or underwriting. Furthermore, since we have no products to sell a company, we have no reason to push for a particular outcome that allows us to sell a long list of services or products to a company, so we're really aligned with our clients, and I think that's a big selling point.

A further advantage is that we focus very much on the major corporations, the Fortune 500 in the U.S. and the global equivalent of that as well, so we don't do any work for activist hedge funds, for example. We very rarely even get involved advising private equity funds, so our clients can rest assured that we don't have a strong relationship with, for example, the activist hedge fund they may be having a dispute with or even with a private equity fund they're looking to sell something to...

For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

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