Piper Sandler in Talks to Acquire Perella Weinberg Partners in Boutique Bank Merger

Piper Sandler is in discussions to acquire Perella Weinberg Partners, according to reports from The Wall Street Journal and Bloomberg published September 29, 2026. A deal could be finalized in the coming weeks, though nothing has been signed, according to people familiar with the matter. Piper Sandler carries a market capitalization of roughly $4.9 billion, while Perella Weinberg is valued at nearly $1.6 billion. Shares of Perella Weinberg, traded on Nasdaq under the ticker PWP, rose on the news.

A combination would bring together two prominent independent Wall Street advisory firms with overlapping strengths in mergers and acquisitions advisory. Perella Weinberg has been expanding aggressively in 2026, completing the acquisition of UK advisory firm Gleacher Shacklock to strengthen its European presence, and having previously acquired Devon Park Advisors in late 2025 to build a secondaries advisory capability. The firm reported first-quarter 2026 revenues of $149 million, down 30% from a record year-ago period, amid a broader M&A slowdown.

Representatives for both firms did not immediately respond to requests for comment.