Tim George Quits Investment Bank Greenhill, The Stock Falls 12%

Tim George, formerly of Greenhill

News of Tim George’s departure from Greenhill & Co, an investment bank, sent the company’s shares down 12% today.George, a Founding Partner at Greenhill, is headed to Lazard.

CEO Jeff Bok said it’s rare for an exit to have such an effect.

“Over the course of our history, we have had a few retirements, sometimes we ask people to leave, sometimes separation is a mutual decision, and least common are cases where we simply lose a valuable asset to a competitor,” Bok said in an e-mailed statement following George’s exit. “It is extremely rare when the departure of an MD from our firm has any meaningful impact on our business.”

George’s leaving seems to have had such an effect because he’s been there for so long, and because he’s one of a few people to leave recently. Bloomberg says Greenhill’s stock has fallen 41% this year.

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