Greenhill Adds Ex-Analyst Trone to Revive Wall Street ConfidenceBy
Trone named bank’s first dedicated head of investor relations
He worked more recently for PHH, was previously at MKM
Greenhill & Co., the merger-advisory firm founded by Robert Greenhill, hired former banking analyst David Trone to help the company win support from Wall Street.
Trone joined as the first dedicated head of investor relations for New York-based Greenhill, which had an initial public offering in 2004. The duties were previously handled by Chris Grubb along with his role as chief financial officer. Grubb moved to an investment-banking position this year, while Chief Operating Officer Harold Rodriguez took on responsibility for finances.
Chief Executive Officer Scott Bok has been adding talent and reshaping management, hiring Steve Mayer from Goldman Sachs Group Inc. in June to lead Canadian operations and naming co-heads of mergers and acquisitions in the U.S. in January. Greenhill has dropped about 22 percent since Dec. 31, heading for its third straight annual decline. Rivals including Lazard Ltd. and PJT Partners Inc. have also slipped this year amid a weakening outlook for M&A.
“We are pleased to recruit someone of David’s experience and expertise,” Bok said in the statement. “He knows our firm and its senior leadership well, given his past coverage of our sector, and has a broad network of relationships with our current shareholder group as well as a wide range of prospective investors.”
Trone covered Greenhill as an analyst at MKM Partners, and had a neutral rating on Bok’s company before leaving last year for a role in investor relations at mortgage-services provider PHH Corp., according to data compiled by Bloomberg. He also provided research on larger banks including Goldman Sachs and JPMorgan Chase & Co.
Trone previously worked at Fox-Pitt Kelton Cochran Caronia Waller, JMP Securities, Prudential Securities and Credit Suisse First Boston. The analyst in 2013 said there would be “plenty of interested buyers, no doubt,” if Greenhill decided to sell itself. At the time he worked for JMP.