NEW YORK, Sept 3 (Reuters) - Two Wall Street bankers are
joining Jasper Street Partners to build the firm's practice
helping clients defend against activist investors by identifying
vulnerabilities, navigating proxy contests and managing public
pressure campaigns.
Duncan Herrington and Peter da Silva Vint, who worked as
activism-defense bankers most recently at Moelis ( MC ) and
Barclays ( JJCTF ) respectively, are spearheading the new
business, Jasper Street executives told Reuters.
Herrington and da Silva Vint will be managing partners and
join founders Robert Main, Jessica Wirth Strine, Marc Lindsay
and Amy Hernandez Slowik, former Vanguard executives.
Started in 2020, the firm, which this month changed its name
from Sustainable Governance Partners, was conceived in a coffee
shop on Jasper Street in Media, Pennsylvania, and has offices in
Pennsylvania and New York.
"As the gray space between economic activism and issue
activism continues to converge, we see huge potential for an
adviser that can cross all of that terrain," Strine told
Reuters.
Herrington, who trained as a lawyer before entering banking,
left Moelis ( MC ) over the summer and previously worked at Raymond
James Financial. Da Silva Vint, who also holds a law degree and
an MBA, worked at Moelis ( MC ), overseeing governance at portfolio
companies for BlackRock ( BLK ) and, most recently, at Barclays ( JJCTF ).
The two men reunite at Jasper Street as demand picks up from
companies facing agitators like Carl Icahn and Nelson Peltz as
well as other interests like unions. A record number of activist
campaigns were launched in the first half of the year including
at Southwest Airlines, JetBlue and Walt Disney.
Jasper Street expects to form relationships to provide
year-round "offense" and "defense" support, Strine said, not
just crisis services.
Competitors include big banks like Goldman Sachs and
JPMorgan and independent firms such as Spotlight Advisors and
Strategic Governance Advisors.