Departures at Rothschild Canada show history means nothing in investment banking

News Snapshot:

Rothschild & Co. has one of the great names in finance, a rich history of advising kings and captains of industry for more than 200 years. That legacy means nothing in domestic investment banking circles. In the latest sign of an industry that has come to value merit over bloodlines, Rothschild and several other long-established platforms have dropped off the league tables that demonstrate which banks are winning takeover and financing assignments from Canadian companies. As storied franchises fade, employee-owned boutique firms are winning an increasing number of mandates. Paris-based Rothschild’s commitment to Canada is in doubt after Alex Graham,...