Centerview Partners posts record revenues in UK arm
| December 15, 2016
Centerview Partners, the US-headquartered advisory house, reported record revenues and profits at its UK arm in its last financial year, but said it was too early to know what impact volatility caused by the UK's Brexit vote would have on its business. Revenues rose to £40.9 million in the year ended March 31, 2016, from £26.3 million during the year to March 31, 2015, according to accounts filed at Companies House for Centerview Partners UK LLP. Operating profits rose to £26.5 million from £18.6 million a year earlier. Revenues and operating profits were the highest since Centerview established its UK business in 2009. The partnership had eight members during the period: former Merrill Lynch banker Richard Girling, who helped to establish Centerview's UK business in 2009; fellow former Merrill Lynch banker Cathal O'Reilly; ex-UBS bankers Roland Phillips, Robin Budenberg, Nicholas Reid and James Hartop; chief operating officer Jeremy Miller and a corporate entity called Centerview Partners UK Holdings Limited. The accounts including a warning about the impact of the UK's "unprecedented" vote to leave the EU: "Until such time as formal terms are agreed, there is a high degree of uncertainty and consequently market volatility is expected. The impact of this volatility and uncertainty on the partnership is yet to be determine."