Investment bank Greenhill & Co. hired Eric Mendelsohn away from Lazard at the end of June to be a new managing director in the restructuring group, as part of a larger effort to grow the restructuring practice.
In an interview with LCD, Mendelsohn said with his addition he hopes to help Greenhill become more proactive in competing for larger deals, on top of harvesting proprietary dealflow.
“Greenhill’s restructuring group now has [five managing directors] and will be looking to expand market share more aggressively using a combination of our network of industry bankers and relationships in the restructuring and fund community,” Mendelsohn said in an email. Prior to Mendelsohn, the firm recruited Sylvia Wiggins, who joined last October in Australia, and is looking to do more in both the US and Europe.
Mendelsohn noted Greenhill is unique in having a restructuring advisory practice with wide industry coverage, as well as a large M&A practice and a global presence – that also does not have an asset management business that could pose material conflicts.
Bradley Robins, head of the restructuring advisory at Greenhill, said in a statement that Mendelsohn’s hire will help drive the “stature in the restructuring business to a new level.”
On the company side, Greenhill’s restructuring team has advised BearingPoint and Chrysler in connection with their bankruptcies, as well as NCI Building Systems and US Shipping Partners on other financial restructurings. But importantly, Mendelsohn brings considerable debtor-side experience, Robins told LCD in an interview.
Mendelsohn was a founding member of Lazard’s restructuring group, joining in 1999, according to the announcement. He arrived there via the restructuring group at BT Alex Brown that ultimately moved to Lazard. Previously he was a fixed income research analyst at CS First Boston.
Mendelsohn has represented companies and stakeholders in over 35 restructuring transactions encompassing over $125 billion of obligations.
Lazard has not yet replaced Mendelsohn, according to sources. – Max Frumes