Robey Warshaw, the investment banking boutique that advises on some of the top UK deals, has paid its senior dealmakers £26.4m as former UK chancellor George Osborne was included in the top ranks for the first time.
The boutique, which has carved out a role as a key adviser to FTSE 100 firms despite having just 13 staff, paid out £26.4m to its four partners in the year ending 31 March 2022, according to newly-published accounts on Companies House.
Osborne, the former UK chancellor, gave up a number of roles including editor of the Evening Standard to become an investment banker at Robey Warshaw in April 2021, meaning he was not included in last year’s accounts.
He was the firm’s first partner hire since launching in 2013. The highest paid partner, believed to be Sir Simon Robey, received £17.2m.
The Mayfair-based advisory firm is run by dealmakers Robey, Simon Warshaw, Philip Apostolides and Osborne. It has brought in £263.5m in profits, divided between the partners, since it was founded in 2013, making them some of the best-paid bankers in the City.
Robey Warshaw has 13 employees, a figure that has stayed consistent for years. They were paid a total of £6.6m for the year ending 31 March 2022, an average payment of £511,474 and broadly level with a year earlier.
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The boutique has continued to land roles on high-profile deals this year including advising on the acquisition of Chelsea Football Club by American businessman Todd Boehly and investment firm Clearlake Capital for £4.3bn in May after former owner, Russian billionaire Roman Abramovich, was forced to put it up for sale in the wake of Russia’s invasion of Ukraine. Robey is a lifelong Arsenal fan.
Robey Warshaw also worked on the £6bn sale of Vantage Towers to Vodafone in November.
Revenue at the boutique was £39.8m for the year, largely in line with the £40.1m brought in in 2021. The figure remains below the £59m in revenue for 2019, but well ahead of 2020 when Brexit uncertainty weighed on UK activity.
Robey worked at Morgan Stanley for 25 years, rising to co-head of global mergers and acquisitions before going it alone, while Warshaw was previously co-head of Emea investment banking at UBS. Apostolides was also a senior investment banker at Morgan Stanley.
In a rare interview, Robey told Financial News in May that they had no plans to slow down.
“People think there’s a natural end to starting your own boutique — run down your client list, make some money, and then retire after five years,” he said.
“That’s not us. We have the relationships we brought with us, but with some clients we’ve been through two or three full management transitions. It’s not just about exhausting our Rolodex — we are constantly trying to replenish our relationships and develop new ones as we grow the firm.”
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