M&A Awards 2017

Acquisition International - M&A Awards 2017 17 Best M&A & Corporate Strategist 2017 Hines Associates Limited Based in London, Hines Associates Limited work primarily on UK financial services deals. The firm have worked in its core sector for over twenty years. It acts on the sell-side for the shareholders or on the buy-side for UK and international buyers. Over the past year, the company has worked with Chinese, Taiwanese, US and Middle Eastern Investors. Staff are increasingly working with private equity firms both on the buy and sell side. Richard outlines to us what services the firm provides and why he believes they have achieved their current success. “Here at Hines Associates we invest time in building trusted relationships with management and shareholders to understand the dynamics of their sector and our client’s position in that market. We advise on growth options and on timing of any sale process. “Increasingly our privately-owned clients are looking for long term advice on retirement planning and on transitioning ownership to either the management or to a sympathetic purchaser. As such, we aim to provide this service and ensure that we provide them with the services they need.” There aremany different attributes that companies in the financial industry possess and Richard remarks on which skills differentiate Hines Associates from its competitors, noting that the firm does not rely on third party accounting and law firms. “Like our sector focused boutique competitors, we have very deep knowledge of the sub-sectors within financial services. Like them we apply senior resource to complex mandates to ensure best execution. We are differentiated in two ways. Firstly, our service is more complete, relying less on third party accounting and law firms. This ensures our advice is more efficient and provided at lower cost to our clients. Secondly, we are prepared to create bi-lateral processes and to work on the buy-side. This is extraordinarily valuable to both international investors and to UK based PE investors.” Commenting on the internal culture of the firm, Richard points out that there is very little staff turnover, as well as providing two partners to each project. This contributes greatly to client service quality, ensuring staff can meet client’s requirements and demands. Hines Associates Limited are a corporate finance boutique providing mergers and acquisitions advice and advice on funding options. We invited Richard Hines to tell us more about the firm and what makes it successful. MA170042 “Client service quality is maintained by having very low staff turnover and having two partners on each project plus more junior resource. The internal culture of the firm is to work as a team on each client and on each firm initiative. The wisdom in the firm is the shared experience and knowledge gained over fifteen years working together at Hines and before in Citigroup’s European investment bank (the merger of Salomon Smith Barney and Schroders). “In our staff, we look for highly competent bankers with experience and the ability and desire to help clients make progress with their businesses. The ability to engage with the client and to analyse and explore their issues is paramount.” Observing that being an agent is not always easy, Richard discusses what the future holds for Hines Associates, noting that clients do not always execute the ideas that they are given by the business. However, he does comment on the fact that Hines are close to several investors which could potentially open up new avenues for the firm to pursue around the world. “One of the disadvantages of being an agent as opposed to a principal is that we can only monetise our best ideas through advisory fees. Worse still, we often give these ideas to clients who fail to then execute. We are close to several investors with whom we will co-invest in specific situations. We are also contemplating setting up an office in HK to get closer to the Chinese market either or our own or, more likely, with a local partner.” Ultimately, Richard tells us what developments the firm foresees and discusses how the firm will adapt to these changes. He also acknowledges that Hines Associates are looking to expand their franchise with suitable teams from larger firms. “At Hines Associates, we have long expected that there would be a shift of M&A advisory work from the full-service banks to the unconflicted advisory firms. Whilst this is happening, and indeed compensation consistently declines within the large banks, large corporate clients often cling to inherited relationships. We need a further, savage round of cuts within the larger banks to transfer these relationships to the boutique firms. I suspect this will happen soon. We would be delighted to expand our franchise with suitable team lifts from larger firms.” Company: Hines Associates Limited Name: Richard Hines Email: [email protected] Web Address: www.hinesassociates.com Address: 64 Knightsbridge, London, SW1X 7JF Telephone: 0207 590 3072