Banchetti’s boutique nets 1bn
RICCARDO Banchetti, the former Lehman Brothers European boss, has landed restructuring contracts worth over €1bn (£911m) for his new boutique advisory firm.
Banchetti, who is suing Lehman for $26m of bonuses and share options that the investment bank failed to pay him after it collapsed spectacularly last year, has secured a slew of work within just three months of operation.
The mandates have been won by his London boutique Pactum Advisers, the firm he launched with several former colleagues from Lehman which focuses on advising Italian corporate clients.
The firm provides advice to companies on unwinding complex derivative positions and restructure their debts, drawing on Banchetti’s experiences during the Lehman collapse.
Banchetti is thought to be confident the firm can sustain the stellar levels of growth in the coming months.
He joined Lehman in 1993 and rapidly ascended the company’s fixed income derivatives arm.
He later became head of European liquid market sales at the investment bank before being tasked with setting up an Italian fixed income sales team.