Chicago has emerged as a major financial center in the US, with a growing number of investment banks choosing to set up offices here. In 2020, several new investment banks have established a presence in Chicago, adding to an already impressive list of financial institutions in the Windy City. This article will provide an updated list of the top investment banks in Chicago as of 2020.
Citi launches new Chicago investment banking office focusing on industrials sector
A major addition in 2020 is Citi, which opened a new Chicago office dedicated to serving clients in the industrials sector. This allows Citi to leverage Chicago’s strength as a hub for industrial and manufacturing companies. The bank plans to offer a full suite of investment banking services including M&A advisory, equity and debt financing across the industrials landscape.
Boutique investment banks continue to expand Chicago presence
Several boutique investment banks known for their sector expertise have set up new offices in Chicago or expanded existing teams in 2020. These include PJT Partners boosting its services for healthcare and consumer retail clients, and Moelis & Company bulking up its industrial-focused group to pursue more Chicago-based mandates.
Chicago likely to see more new entrants in investment banking
Industry analysts predict Chicago will continue to attract additional investment banking players, as companies appreciate the talent pool and growth potential offered by Chicago and the Midwest. More boutique banks may look to establish a foothold, while global banks are likely to shift resources from New York and San Francisco to tap into new business from Chicago.
The investment banking landscape in Chicago expanded in 2020 with several notable new entrants like Citi setting up offices to leverage the city’s strengths. More firms are likely to follow suit as Chicago cements its position as an attractive alternative financial hub.