Ex-Morgan Stanley Banker Taubman Dismisses Idea of Starting Firm

Paul J. Taubman, who ran investment banking at Morgan Stanley (MS) as part of a 27-year career at the firm before leaving last year, said he doesn’t see a need to start his own advisory firm.

“Retirement is fun, so I’m not sure there’s a reason to change,” Taubman, 53, said today at a breakfast discussion sponsored by Reuters in New York, responding to a question about whether he would build an advisory boutique.

Taubman began PJT Capital LLC last year as part of his role as an individual adviser in Verizon Communication Inc.’s $130 billion buyout of partner Vodafone Group Plc. (VOD)’s 45 percent stake in Verizon Wireless, the largest U.S. mobile carrier. The acquisition, the largest announced in the past five years, pushed PJT into the top 20 deal advisers of 2013, according to data compiled by Bloomberg.

Corporate chief executive officers and boards of directors are more willing to rely on boutique firms than in the past, Taubman said today. Some advisory firms may try to expand their lines of businesses as they grow, he said.

To contact the reporter on this story: Michael J. Moore in New York at mmoore55@bloomberg.net

To contact the editor responsible for this story: Peter Eichenbaum at peichenbaum@bloomberg.net

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