Greenhill Sees Departures as Advisers Are Paid in Sliding Stock

Greenhill & Co., the investment bank founded by Robert Greenhill, is facing an increase in departures of top advisers after it boosted the share of compensation paid in company stock, which is down 43 percent this year.

Greenhill’s stock dropped 12 percent yesterday, the most since the company went public, after it lost its third managing director since early June. Chief Executive Officer Scott Bok, 52, said in February the firm is making a more “permanent” shift toward paying employees stock instead of cash. Members of senior management didn’t take cash bonuses for 2010, according to a Greenhill statement in January.