Boutique banks are taking a bigger bite out of Wall Street's top line this year.
Boutique investment banks took 17 percent of United States M&A revenue in the first half of 2016, according to data kept by financial services analysis firm Dealogic.
That's a slight increase over where it stood at this time last year, when Dealogic pegged boutique's M&A disruption at 16 percent of the market. It was once as high as 18 percent, meaning that smaller banks could be on track for a banner year on Wall Street if they pick up their pace even just a little bit. And some boutique bankers are optimistic that's what will happen in the second half of the year.
But, more importantly for the boutiques — and perhaps for Wall Street as well — the smaller banks' share of deal revenue is up big, over a longer time-frame. In 2008, before the global financial crisis was in full swing, boutiques had a mere 8 percent wallet share.