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Draft:Larry Grafstein

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Larry Grafstein
Born
Laurence Stephen Grafstein
NationalityAmerican
EducationJuris Doctor
Alma materUniversity of Toronto
Occupation(s)M&A advisor, investor, banker
Known forDeputy Chairman, RBC Capital Markets
SpouseRebecca Weatherhead
RelativesJerry Grafstein (father)

Larry Grafstein (born Laurence Stephen Grafstein) is an American lawyer, investor, and mergers and acquisitions (M&A) advisor. He serves as Deputy Chairman of the Global Investment Bank at RBC Capital Markets, where he oversees complex M&A transactions and offers regular commentary on market trends.[1]

Early life and education

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Grafstein is the son of Canadian lawyer and former senator Jerry Grafstein.[1] He earned his BA from Harvard University in 1982,[2][3] his master's degree from University of Oxford in 1984, and a Juris Doctor from the University of Toronto Faculty of Law in 1988.[4]

Career

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Grafstein began his investment banking career in the 1990s and joined Lazard in 2001 as managing director and co-head of the technology group.[5] He was quoted during the 2008 financial crisis regarding Wall Street's responsibility in market failures.[6]

In 2009, he co-led a group of investors with Martin Peretz to acquire The New Republic from CanWest,[7][8] and served as chairman of the group until the publication's leadership collapsed in 2014.[9]

Grafstein then joined Rothschild & Co, and in 2012 he was appointed Co-Head of M&A for the Americas at UBS.[10][11][12] During his tenure, he was called the "$600 billion man" by *Financial News London*.[13] He also appeared in a *Vanity Fair* feature on the legacy of Bruce Wasserstein.[14]

He contributed to UBS's U.S. expansion by hiring Solon Kentas to lead the consumer and retail M&A group.[15][16] He was also quoted during policy shifts, such as U.S. tax reforms affecting debt deductions.[17]

In 2018, he was hired by RBC as Deputy Chairman.[1][18][19]

Thought leadership

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Grafstein has frequently appeared in financial media. He explained the 2019 M&A rebound in *Business Insider*[20] and was featured by *Bloomberg* discussing market caution.[21] He appeared in *CNBC* during discussions on large-cap deal flow.[22] In 2016, he told *Bloomberg* that slow growth was a catalyst for M&A.[23]

Grafstein was cited in 2021 by *Bloomberg* for commentary on boutique bank performance during the AT&T–Discovery deal.[24] He also appears in the 2020 edition of *Investment Banking* by Rosenbaum & Pearl.[25] In 2018, he was listed among top investment banker hires by *Business Insider*.[26]

Global M&A downturn

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In late 2023, Grafstein was widely quoted on the decline in global M&A, which dipped below US$3 trillion for the first time in a decade.[27][28][29][30]

Other roles

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Grafstein serves as Chairman of the Board of Trustees at the Horace Mann School[2] and sits on the executive committee of the Wall Street Division of UJA-Federation of New York.[31] In 2023, he was interviewed by Altrum on leadership and deal team dynamics.[32]

Personal life

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Grafstein is married to Rebecca Weatherhead.[33] He is also referenced in a personal essay by journalist Nell Scovell.[34]

References

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  1. ^ a b c Posadzki, Alexandra (2018-06-25). "RBC snags UBS banker Larry Grafstein as deputy chairman". The Globe and Mail. Retrieved 2023-07-18.
  2. ^ a b Sweet, Vivien. "Larry Grafstein becomes the new Chairman of Board of Trustees". Retrieved 2023-07-18.
  3. ^ "Issue 25 – The Horace Mann Record". Retrieved 2024-05-01.
  4. ^ "Grafstein Lecture in Communications 2023". Retrieved 2023-07-18.
  5. ^ Sidel, Robin (2001-07-18). "Grafstein Joins Lazard In Coup for the Bank". The Wall Street Journal. Retrieved 2023-07-18.
  6. ^ "Two Bankers Put the Blame on Wall Street". Retrieved 2023-07-18.
  7. ^ Koblin, John (2009-03-06). "Marty Peretz, Larry Grafstein in Discussions to Buy The New Republic". Retrieved 2023-07-18.
  8. ^ "Canwest sells magazine to meet debt payments". 2009-03-09. Retrieved 2023-07-18.
  9. ^ Lizza, Ryan (2014-12-12). "Inside the Collapse of The New Republic". The New Yorker. Retrieved 2023-07-18.
  10. ^ Merced, Michael J. de la (2012-08-21). "UBS Hires Grafstein as Co-Head of M.&A. in the Americas". Retrieved 2023-07-18.
  11. ^ "UBS AG Appoints Laurence Grafstein". Retrieved 2023-07-18.
  12. ^ "UBS holt sich neuen M&A-Chef". Retrieved 2023-07-18.
  13. ^ Basar, Shanny. "Investment banker of the Week". Retrieved 2023-07-18.
  14. ^ "Bruce Wasserstein's Last Surprise". Retrieved 2023-07-18.
  15. ^ Brumpton, Harry (2018-06-05). "UBS hires Solon Kentas". Reuters. Retrieved 2023-07-18.
  16. ^ "UBS hires Solon Kentas". Retrieved 2024-05-01.
  17. ^ "U.S. tax curbs on debt deduction". 2017-12-21. Retrieved 2023-07-18.
  18. ^ "DealBook Briefing: Inside McKinsey's Biggest Crisis". The New York Times. 2018-06-27. Retrieved 2023-07-18.
  19. ^ "Duluth Holdings Q4 results". Retrieved 2023-07-18.
  20. ^ "RBC's deputy chairman explains M&A rebound". Retrieved 2023-07-18.
  21. ^ "RBC's Grafstein Sees Market Caution". 2023-03-08. Retrieved 2023-07-18.
  22. ^ "Global M&A volume down". Retrieved 2023-07-18.
  23. ^ "M&A Being Spurred by Slow Economic Growth". 2016-08-15. Retrieved 2023-07-18.
  24. ^ "AT&T-Discovery Megadeal". Retrieved 2023-07-18.
  25. ^ Rosenbaum, Joshua (2020-03-20). Investment Banking: Valuation, LBOs, M&A, and IPOs. John Wiley & Sons. ISBN 978-1-119-70658-8.
  26. ^ "Top 40 investment bankers of 2018". Retrieved 2023-07-18.
  27. ^ "Dealmakers to Miss $3 Trillion". Retrieved 2024-05-01.
  28. ^ "Long Slog Back to $3 Trillion". Retrieved 2024-05-01.
  29. ^ "SCMP on $3T M&A miss". Retrieved 2024-05-01.
  30. ^ "M&A decade low – Saigon Times". Retrieved 2024-05-01.
  31. ^ "Wall Street Dinner Dais". Retrieved 2023-07-18.
  32. ^ "Interview with Larry Grafstein – Altrum". Retrieved 2024-05-01.
  33. ^ Rabines, Amanda (2017-06-02). "UBS honcho buys $5.2M unit". Retrieved 2023-07-18.
  34. ^ "Long Strange Journey of Nell Scovell". Retrieved 2024-05-01.
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Category:Living people Category:American lawyers Category:American investors Category:American bankers Category:University of Toronto alumni Category:Alumni of the University of Oxford Category:Harvard University alumni Category:RBC Capital Markets people