By Svea Herbst-Bayliss
NEW YORK (Reuters) - Two top Wall Street bankers, Duncan Herrington and Peter da Silva Vint, are teaming up with Jasper Street Partners to strengthen the firm's ability to assist clients in defending against activist investors. Their expertise lies in identifying vulnerabilities, navigating proxy contests, and managing public pressure campaigns.
Herrington and da Silva Vint, who previously worked as activism-defense bankers at Moelis and Barclays, respectively, will lead this new venture at Jasper Street. They will be joining forces with the firm's founders, Robert Main, Jessica Wirth Strine, Marc Lindsay, and Amy Hernandez Slowik, who are former Vanguard executives.
Established in 2020 as Sustainable Governance Partners, the firm underwent a name change this month and operates out of offices in Pennsylvania and New York. The idea for the firm was born in a coffee shop on Jasper Street in Media, Pennsylvania.
"With the increasing overlap between economic activism and issue activism, we see tremendous potential for an advisor who can navigate this complex landscape," said Strine in an interview with Reuters.
Both Herrington and da Silva Vint bring a wealth of experience to Jasper Street, with backgrounds in law and finance. Their reunion at Jasper Street comes at a time when companies are facing heightened pressure from activist investors such as Carl Icahn and Nelson Peltz, as well as other stakeholders like unions. The first half of the year saw a surge in activist campaigns, targeting companies like Southwest Airlines, JetBlue, and Walt Disney.
Jasper Street aims to provide ongoing support to its clients, offering both offensive and defensive strategies, not just crisis management services. The firm will be competing with established players in the industry such as Goldman Sachs and JPMorgan, as well as independent firms like Spotlight Advisors and Strategic Governance Advisors.
Analysis:
This article highlights the growing trend of companies facing pressure from activist investors and the increasing need for specialized advisory services to navigate these challenges. Jasper Street Partners, with the addition of experienced bankers Herrington and da Silva Vint, is positioning itself as a key player in this space. By offering year-round support and a comprehensive approach to activism defense, the firm aims to differentiate itself from competitors and provide value to clients in an increasingly complex market environment. Investors and companies alike should take note of these developments and consider the implications for their own strategies and decision-making processes.
