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Personal touch lets boutique banks run with big dogs of Wall Street

They are unburdened by larger trading and financing operations that can create conflicts of interest

Mr Pruzan (left) and Mr Effro personally select their summer analysts, and try to promote a collaborative culture by taking analysts on cultural outings.

New York

IN a pink marble skyscraper across from the Museum of Modern Art, 20 summer analysts at the investment bank Centerview Partners listened while Robert Rubin, the former Treasury secretary, opined on the state of the world.

The analysts had been selected from a few thousand...