Looking Ahead
We’ve traced the evolution of the merchant bank, starting with trade, then financing, and then on to new issues as the capital markets evolved. Throughout this process, we see merchant banks stretching to do what it takes to serve their clients. Like these venerable institutions, Next Street continues to evolve in order to address the needs of its clients.
Many of today’s merchant banks have strayed from their roots as the cornerstone of modern finance. The traditional financial institutions that once served the inner cities have also abandoned this market as they underwent their own transitions in the last decade. As a consequence, smaller businesses have languished. By reviving and refining this powerful model, Next Street brings a creative approach to a unique market with high potential that has never had access to “the wisdom stuff”, as Jeff Swartz calls it, on this level. Based on the track record of the merchant bank over hundreds of years, we expect that the market will respond, replicating the model around the country.
For us, the most important ingredient of Next Street’s merchant bank model is serving the whole client, whatever that takes. We believe that’s how to make a difference with each client, and ultimately with the cities and communities that are their homes.
