Piper Sandler has entered talks to buy rival advisory firm Perella Weinberg. The discussions could create a larger player on Wall Street.
Both firms focus on providing merger and acquisition advice to corporate clients. A deal would combine two established names in the advisory space.
Piper Sandler is known for its work with mid-sized companies and financial institutions. Perella Weinberg serves large corporations and private equity firms on major transactions.
The talks remain in early stages and may not lead to an agreement. Terms of a potential deal have not been disclosed.
A merger would expand Piper Sandler’s reach into higher-value advisory work. Perella Weinberg would gain access to a broader client base and more resources.
Wall Street advisory firms have faced pressure to scale up as competition intensifies. Consolidation allows smaller players to challenge larger investment banks.
Shares of both companies could react if a deal is confirmed. Neither firm has commented publicly on the discussions.
