Centerview Partners posts record revenues in UK arm

Centerview moved to new offices on Pall Mall during the year

Revenues rose to £40.9 million in the year ended March 31, 2016, from £26.3 million during the year to March 31, 2015, according to accounts filed at Companies House for Centerview Partners UK LLP. Operating profits rose to £26.5 million from £18.6 million a year earlier.

Revenues and operating profits were the highest since Centerview established its UK business in 2009.

The partnership had eight members during the period: former Merrill Lynch banker Richard Girling, who helped to establish Centerview’s UK business in 2009; fellow former Merrill Lynch banker Cathal O’Reilly; ex-UBS bankers Roland Phillips, Robin Budenberg, Nicholas Reid and James Hartop; chief operating officer Jeremy Miller and a corporate entity called Centerview Partners UK Holdings Limited.

The accounts including a warning about the impact of the UK’s “unprecedented” vote to leave the EU: “Until such time as formal terms are agreed, there is a high degree of uncertainty and consequently market volatility is expected. The impact of this volatility and uncertainty on the partnership is yet to be determine.”

Dealogic figures show that Centerview ranked 11th on the 2016 European mergers and acquisitions advisory tables as of December 14, a higher position than it has ever finished in a year. Globally it is 12th, having finished 2015 ranked 11th.

Recent large deals for Centerview have included a string of big-ticket transactions during October, a bumper month for M&A.

As well as being lead adviser to General Electric on its $ 32 billion deal to combine its oil and gas business with Baker Hughes, Centerview also advised US wireless technology group Qualcomm on its $ 47 billion agreed offer for Dutch firm NXP Semiconductors, announced on October 27, and the proposed purchase by British American Tobacco of the remaining majority stake in Reynolds American that it doesn’t already own.

Centerview did not respond to requests for comment.

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