“Boutique” banks triumph in Google’s Motorola deal

NEW YORK, (Reuters) – Former employees of elite Wall  Street firms are triumphing over their previous investment  banks in Google Inc’s blockbuster $12.5 billion deal to buy  Motorola Mobility Holdings Inc.

Motorola hired Centerview Partners and Qatalyst Partners as  its advisers on a deal expected to generate $30 million to $35  million for the bankers, according to sources close to the  matter.

Centerview was founded in 2006 by former bankers at Morgan  Stanley and UBS AG, while Qatalyst is the bastion of tech deals  founded in 2008 by Frank Quattrone, who earned his spurs at  Credit Suisse First Boston and Morgan Stanley.

Lazard Ltd, the blue-blooded advisory firm that was  transformed into a Wall Street power by the late Bruce  Wasserstein — another First Boston veteran — is counseling  Google for a fee that could reach $32 million based on the deal  value, according to Freeman & Co.

Paul Haigney, a Lazard vice chairman who is based in San  Francisco, and the firm’s technology banking head Antonio Weiss  are leading the Google team.

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Morgan Stanley and Credit Suisse, which were lead  underwriters on Google’s landmark initial public offering in  2004, apparently have no place in the deal. Morgan Stanley  ranks as the top M&A adviser on U.S. technology deals this  year, according to Thomson Reuters.

The deal will boost Qatalyst, Lazard and Centerview to  12th, 13th and 14th place respectively in the tech, media and  telecommunication sector deal tables.

David Handler, who joined Centerview in 2008 to head its  global tech practice and who helped Motorola in January split  into two companies, is the chief adviser to Motorola Mobility,  sources said. He previously worked at UBS and the now-defunct  Bear, Stearns & Co.

The lead banker for Qatalyst, whose split of the Motorola  advisory assignment could not be determined, is former Credit  Suisse technology banking co-head George Boutros.

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