Green Hill
Product brand
UnclaimedAn independent investment-banking advisory firm focused on complex mergers, acquisitions, restructurings, financings, and capital raisings.
Last updated August 31, 2026
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Overview
Greenhill & Co. is a New York-based investment-banking advisory firm established in 1996 by Robert F. Greenhill, a former Morgan Stanley president and an early architect of Wall Street's modern mergers-and-acquisitions business. Rather than operating as a full-service securities house, Greenhill built its identity around advice on complex corporate transactions, including mergers and acquisitions, divestitures, restructurings, strategic alternatives, financings, capital raisings, and valuation matters. Its clients have included corporations, private-equity firms, partnerships, financial institutions, governments, and other large organizations. The firm's heritage is closely associated with Robert Greenhill, who had previously founded Morgan Stanley's first dedicated M&A group and later served as chairman and chief executive of Smith Barney. Greenhill sought to reproduce the senior-level, conflict-conscious advisory model of an independent investment bank while attracting experienced managing directors from larger financial institutions. The business expanded from New York into a global network spanning North and South America, Europe, the Middle East, Asia, and Australia. At its broadest scale, the firm reported 17 offices and advised on transactions across numerous industries and jurisdictions. Greenhill's work has included some of the largest and most consequential transactions of the past several decades. Examples cited in public descriptions of the firm include advice on the 2007 acquisition of ABN AMRO, the U.S. Treasury's sale of its AIG stake, Roche's purchase of the publicly held interest in Genentech, and the merger of Delta Air Lines and Northwest Airlines. Later assignments covered pharmaceuticals, food distribution, consumer products, payments, energy, nuclear services, telecommunications, and other sectors. The firm's advisory role has generally involved strategic analysis, valuation, negotiation support, transaction structuring, or board-level advice rather than lending, underwriting, asset management, or retail financial services. Greenhill became publicly traded on the New York Stock Exchange through an initial public offering in 2004. It subsequently broadened its capabilities through international hiring and the 2015 acquisition of Cogent Partners, a specialist in secondary-market advisory for private-equity interests. This added a dedicated private-markets and secondary-transactions capability to Greenhill's traditional M&A and restructuring practice. In May 2023, Mizuho agreed to acquire Greenhill in an all-cash transaction valued at $550 million. The transaction was completed on December 1, 2023. Following completion, Greenhill became part of the Mizuho group while continuing to operate as an independent M&A and restructuring advisory arm. The acquisition ended Greenhill's status as an independently listed company but preserved its specialist advisory identity within a larger Japanese financial group.
History
Greenhill & Co. was founded in New York City in 1996 by Robert F. Greenhill. Greenhill had been president of Morgan Stanley and chairman and chief executive officer of Smith Barney. During his Morgan Stanley career, he established the firm's first dedicated M&A group and became an influential figure in the development of institutional merger advice on Wall Street. The new firm adopted an independent advisory model centered on senior bankers, strategic analysis, valuation, and transaction execution. During its early growth, Greenhill recruited managing directors and other senior professionals from major investment banks and related institutions. Its business model emphasized advice on significant transactions rather than the broad range of lending, underwriting, sales, trading, and asset-management activities associated with universal banks. The firm gradually developed an international footprint, opening offices and hiring professionals across North and South America, Europe, the Middle East, Asia, and Australia. Public descriptions of the business have cited a network of 17 offices at its global peak. The firm participated in prominent assignments across multiple sectors. Its cited work included advice on the $100 billion acquisition of ABN AMRO in 2007, the $17 billion merger of Northwest Airlines and Delta Air Lines in 2008, Roche's $46.9 billion acquisition of the publicly held interest in Genentech in 2009, and the U.S. Treasury's 2012 divestiture of its $51 billion stake in AIG. Greenhill also advised a group of former Morgan Stanley partners in their campaign that contributed to the departure of Morgan Stanley chief executive Philip J. Purcell in 2005, an episode that attracted substantial attention because of its connection to governance and leadership at a major financial institution. Greenhill entered the public markets in May 2004 through an initial public offering of common stock on the New York Stock Exchange. It continued to extend its geographical presence, including the opening of a São Paulo office in 2013. In 2014, the firm advised on Actavis's acquisition of Forest Laboratories and the merger of Safeway and Albertsons. In 2015, it agreed to purchase Cogent Partners, a specialist investment bank serving the secondary market for private-equity investments. The transaction broadened Greenhill's private-markets advisory capabilities. Further notable assignments included advising Teva Pharmaceuticals on the 2015 acquisition of Allergan's generics business, Tesco on its 2017 acquisition of Booker, Ladbrokes Coral in connection with a takeover approach by GVC, International Flavors & Fragrances on its combination with DuPont's Nutrition & Biosciences business in 2019, and Total System Services on its merger with Global Payments in the same year. In 2022, Greenhill advised Brookfield Corporation on the acquisition of control of Westinghouse Electric Company, with Cameco retaining the other significant ownership interest. Greenhill's independent public-company era ended when Mizuho agreed in May 2023 to purchase the firm for $550 million in cash. The transaction was completed on December 1, 2023. Greenhill thereafter operated within Mizuho as an independent M&A and restructuring advisory arm. Its post-acquisition structure retained the firm's specialist focus while giving it access to the resources and international platform of a larger Japanese financial group.
- 2023
Mizuho acquisition completed
[1]Mizuho completes its cash acquisition of Greenhill on December 1, 2023.
- 2015
Cogent Partners acquisition
[1]Greenhill agrees to acquire Cogent Partners, adding specialist advice for secondary-market private-equity transactions.
- 2013
São Paulo expansion
[1]Greenhill opens a São Paulo office and hires Daniel Wainstein to strengthen its Brazilian advisory presence.
- 2005
Advises Morgan Stanley dissident partners
[1]The firm advises a group of former Morgan Stanley partners during their successful campaign for the departure of Morgan Stanley chief executive Philip J. Purcell.
- 2004
Initial public offering
[1]Greenhill completes an IPO and lists its common stock on the New York Stock Exchange.
- 1996
Greenhill & Co. is founded
[1]Robert F. Greenhill establishes the investment-banking advisory firm in New York City.
Products and positioning
A specialist, senior-led investment bank positioned around independent advice on complex transactions rather than broad securities distribution or commercial banking.
Investment banking advisory · 1996
Mergers and acquisitions advisory
Greenhill advises corporations, financial sponsors, institutions, and governments on acquisitions, mergers, divestitures, takeover approaches, and other strategic transactions. The work can include target evaluation, valuation, negotiation, transaction structure, board advice, and execution support, with particular emphasis on large or complex cross-border assignments.
Financial advisory
Restructuring advisory
The restructuring practice provides advice to companies and stakeholders facing financial or strategic stress. Its work may cover liability and capital-structure analysis, negotiations, recapitalization alternatives, distressed transactions, and other measures intended to address complex financial situations.
Corporate finance advisory
Valuation and fairness opinions
Greenhill offers valuation analysis and independent opinions in connection with corporate transactions and strategic decisions. These services support boards, special committees, and other fiduciaries assessing consideration, alternatives, and the financial implications of proposed transactions.
Private-markets advisory · 2015
Private-equity secondary-market advisory
Following the acquisition of Cogent Partners, Greenhill added specialist advice on secondary-market transactions involving private-equity interests. The capability supports investors and institutions evaluating sales, purchases, portfolio liquidity, and other transactions in the private-markets secondary market.
Brand decisions
2023
Join Mizuho as an advisory subsidiaryM&ABackground
Greenhill accepted an offer from Japanese financial group Mizuho after operating as a publicly listed independent investment bank.
Action taken
Mizuho agreed to acquire Greenhill in an all-cash transaction valued at $550 million; completion occurred on December 1, 2023.
Aftermath
Greenhill ceased to be an independently listed company and continued as an independent M&A and restructuring advisory arm within Mizuho.
Transaction value. $550 million acquisition consideration (May 2023 announcement)
2015
Acquire Cogent PartnersM&ABackground
Greenhill sought to expand beyond traditional M&A and restructuring work into the secondary market for private-equity investments.
Action taken
The firm agreed to purchase Cogent Partners, a specialist investment bank focused on secondary-market advisory.
Aftermath
The transaction broadened Greenhill's private-markets advisory offering.
Recent events
Reported
GreenHill and the GiftingNetwork enter strategic partnership[3]
GreenHill and the GiftingNetwork announced that they had entered a strategic partnership to expand GreenHill's presence in the nonprofit institutional market and offer integrated investment performance reporting to the GiftingNetwork's clients.
Sources3 sources
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