Perella Weinberg CEO Says Bank Considering Buybacks, Dividend
(Bloomberg) -- Perella Weinberg Partners is willing to look at potential buybacks or special dividends after the investment bank went public earlier this year, Chief Executive Officer Peter Weinberg said.
“We are going to consider, for sure, special dividends and repurchases over time,” he said Tuesday at the Goldman Sachs Group Inc. conference. “Repurchases are particularly important, as you rightly say, to address the dilution created by stock-based compensation.”
The boutique investment bank merged with a special purpose acquisition company earlier this year, taking the business public. Weinberg said that the bank hasn’t bought back its own stock yet this year because of a lack of liquidity. That could soon change, he said.
“We are having some shares that will become unlocked this month and we’ll see what happens with respect to that but it will likely improve liquidity in some way,” Weinberg said.
Perella Weinberg shares gained 3.6% to $12.53 at 2:17 p.m. in New York.
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