For the past two decades, the investment banking ecosystem in fintech has been dominated by one player: Steve McLaughlin’s FT Partners.
Now, that is not to say that other investments have not done deals. The really big deals are often done by the likes of Goldman Sachs, Morgan Stanley, or JPMorgan Chase. And boutique investment banks are arranging some of the smaller deals. But FT Partners has become synonymous with fintech investment banking.
Enter Cross River Bank. The fintech pioneer announced today that they are launching a specialist investment banking arm focused on fintech. The new division will be led by former Morgan Stanley and SVB executives.
We all know that fintech deal-making has been in a lull since the peak in 2021 but there are signs things are picking up a little in 2024.
The new investment bank will be part of CRB Securities and will offer equity fundraising, M&A, and other corporate advisory functions.
If deal-making does pick up later this year there is certainly room for a new initiative like this. And Cross River Bank has clients across a variety of fintech niches so they will be well-positioned to take advantage of increased deal-making activity.
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