Centerview's MDs did wonderfully in London. They got a pay cut for it
Working for a boutique bank is a good way to make a lot of money. Doing so as a managing director or partner is an even better way. And at a boutique like Centerview, even when your pay declines, you’re still making millions.
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Accounts were published today for Centerview’s main UK-based subsidiary, Centerview Partners UK LLP, for the year ending 31 March 2025. Top line figures were good – revenue increased from £80m ($108m) to £87m ($117m) across that period.
The firm’s revenue-generating staff might be patting themselves on their backs for that, but probably not with (more) expensive gloves. The average pay for Centerview’s members – UK legal jargon for partners in a partnership – declined, from £7m ($9m) average in the period ending March 2024 to just £5m ($7m) in the next.
That decrease is partly due to an increase in members, from eight to nine, but their overall pay pot declined from £55m ($75m) to £45m ($61m) despite the revenue increase.
The money went to a huge increase in compensation for the firm’s non-member employees. They went from 57 in number to 61 for the year ending March 2025, and their average pay went from £267k ($352k) in the period ending March 2024 to £480k ($647k) in the next.
The decline in pay for partners was probably related to Centreview’s performance in Q1 of 2025. Across the entirety of 2024, the firm captured a rather excellent 5.7% of M&A market share in EMEA according to market intelligence provider LSEG (formerly Refinitiv), but at the start of Q1 in 2025 it had decline to 2.1%.
Still, Centerview’s partners probably won’t complain too much about the situation. There was talk this time last year about the firm IPOing, with a $10bn valuation on the cards to be distributed among the firm’s 60ish partners. That valuation won’t be distributed equally, but it’s a payout of $167m.
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