The John Doe firm is finally named.
After months of calling former
banker Joseph Perella's boutique investment bank the "no name" firm, Perella said Thursday that he named the firm after himself and his partner, Peter Weinberg.
Perella Weinberg Partners was unveiled Thursday after weeks of fanfare and guessing; this marks the launch of his bank.
"We are pleased to open the doors of our firm for business, and we look forward to serving our clients around the world," Perella says.
The Morgan Stanley veteran is partnering with Peter Weinberg, a former
executive who comes from a legacy of Goldman leaders. The firm currently has 11 partners and another to start soon, and 30 employees who are either working at the firm or who have signed on. So far, it has raised over $1 billion from 11 investors, including three institutions and eight family investor groups, according to the firm's release.
"We are successfully building our corporate advisory business person by person, and our team of professionals is second to none," Perella says in the release. "We anticipate an equally high-quality team in investment management as we round out our group of professionals in that area."
Perella left Morgan Stanley last year in a high-profile management shakeup and decided to start his own boutique investment-banking firm. He has lured a number of Morgan Stanley investment bankers, as well as executives from Merrill Lynch and elsewhere. One of his recruits, Jon Anda, signed on to the firm in January and then recently did an about-face, leaving Perella's firm and returning to Morgan Stanley, the Wall Street firm said last week.