A seasoned Wall Street veteran is striking out on his own. After more than two decades in investment banking, including a high-profile tenure at Jefferies, David Przygoda has launched a boutique advisory firm aimed at offering independent, conflict-free advice to corporations, private equity funds, and entrepreneurs navigating increasingly complex financial markets.
A Strategic Move in a Shifting Banking Landscape
Przygoda’s decision to start his own advisory practice comes at a time when demand for independent, client-centric financial advisors is rising. Large investment banks often face conflicts of interest due to their lending, trading, and capital markets businesses. Boutique firms, by contrast, are able to provide tailored strategic guidance without the same balance sheet entanglements.
“This is about returning to the fundamentals of investment banking—trusted, bespoke advice and long-term client relationships,” Przygoda said in a statement announcing the launch. “Our focus is on aligning directly with clients’ interests, free from the pressures of product-pushing and balance sheet deployment.”
Leveraging Deep Jefferies Experience
At Jefferies, Przygoda established himself as a dealmaker with expertise spanning mergers & acquisitions, capital raising, and restructuring. He advised clients across a wide range of sectors, from technology and industrials to healthcare and consumer businesses. His track record includes advising on multi-billion-dollar M&A transactions and guiding clients through volatile market cycles.
Industry insiders note that this background gives his new firm instant credibility with both corporate executives and financial sponsors. “David has seen virtually every type of transaction in every type of market environment,” one private equity partner familiar with his work said. “That depth of experience is a huge asset for clients who want judgment and perspective, not just execution.”
The Rise of Boutique Advisory Firms
Przygoda’s launch reflects a broader structural shift in global investment banking. Over the past decade, boutiques such as Evercore, Centerview Partners, Moelis & Company, and PJT Partners have won market share from bulge-bracket rivals by focusing solely on advisory work. Their lean structures, high-caliber senior talent, and independence from lending activities appeal to clients seeking trusted counsel during high-stakes deals.
According to industry data, boutiques now account for more than 40% of U.S. M&A advisory fees, a remarkable climb from less than 20% fifteen years ago. As deal activity becomes increasingly global and specialized, the appeal of niche firms with targeted expertise is expected to grow further.
Areas of Focus
While details of Przygoda’s new firm are still emerging, sources close to the venture indicate that the advisory shop will initially target:
- Middle-market M&A – Providing sell-side and buy-side advice to companies valued between $100 million and $5 billion.
- Private Equity Partnerships – Supporting financial sponsors with acquisition strategy, portfolio company sales, and recapitalizations.
- Capital Structure Advisory – Helping companies evaluate financing options, including private debt placements and structured capital.
- Cross-Border Deals – Assisting international companies entering the U.S. market and U.S. firms expanding abroad.
The firm is also expected to leverage Przygoda’s network of institutional investors and corporate executives to create unique deal opportunities.
Market Outlook
Przygoda’s entrepreneurial move comes as global M&A activity shows signs of recovery after a slowdown in 2022–2023. With interest rates stabilizing and corporate balance sheets flush with cash, strategists predict that dealmaking will accelerate, particularly in technology, energy transition, and healthcare.
Independent advisory firms are well-positioned to benefit from this rebound. Clients are increasingly valuing advisors who can provide candid, conflict-free perspectives in a complex, high-stakes environment.
A Personal Bet on Independence
For Przygoda, launching a boutique is both a professional and personal bet on the future of banking. It signals confidence that a new generation of advisory firms can compete head-to-head with global institutions by prioritizing expertise, independence, and agility.
“The market is at an inflection point,” Przygoda said. “Clients don’t just want execution—they want trusted advice from people who have been in the trenches. That’s the gap we intend to fill.”
