Wall Street is preparing for a wave of mergers and acquisitions, as the 'Trump effect' gives rise to another billionaire.

On November 20, Golden Ten Data reported that the ‘Trump effect’ on Wall Street has pushed the value of Paul Taubman’s stake in PJT Partners to over $1 billion for the first time. The boutique investment bank, which has been established for 10 years, is preparing to benefit from the expected surge in corporate activities after the election. Since Trump won the election at the beginning of this month, PJT Partners’ stock price has pumped nearly 10%. Bankers and investors are preparing for the next wave of mergers and acquisitions during the next presidential term. Taubman holds about 15% of the company’s publicly traded shares, currently valued at $1.1 billion. JMP Securities analyst Devin Ryan said that PJT is in an unprecedented favorable position to achieve revenue growth, and as the M&A market recovers from its current sluggish level, the company’s significant investments in strategic consulting should increasingly pay off.