1282977--2/26/2009--GREENHILL_&_CO

related topics

{interest, director, officer}

{stock, price, share}

{acquisition, growth, future}

{regulation, government, change}

{competitive, industry, competition}

{stock, price, operating}

{investment, property, distribution}

{loan, real, estate}

{loss, insurance, financial}

{financial, litigation, operation}

{system, service, information}

{tax, income, asset}

{condition, economic, financial}

{personnel, key, retain}

{customer, product, revenue}

{debt, indebtedness, cash}

Our business has been adversely affected by difficult market conditions and may continue to be adversely affected by market uncertainty, disruptions in the credit markets and other unfavorable economic, geopolitical or market conditions In the event of a continued economic downturn, revenues from mergers and acquisitions advisory activities may decline further, and revenues from financing advisory and restructuring activities may not fully offset any such decline Our merger and acquisition and financing advisory and restructuring engagements are singular in nature and do not provide for subsequent engagements A high percentage of our financial advisory revenues are derived from a few clients and the termination of any one financial advisory engagement could reduce our revenues and harm our operating results Investment gains from our merchant banking portfolio vary from period to period; these gains may not recur and may not be replaced by other gains; our investments may lose money There will not be a consistent pattern in our financial results from quarter to quarter, which may result in increased volatility of our stock price We are continuing to expand our merchant banking business, which will entail increased levels of investments in high-risk, illiquid assets We value our merchant banking portfolio and other investments each quarter using a fair value methodology, which could result in gains or losses to the firm; the fair value methodology may over- or under-state the ultimate value we will realize; clawbacks and losses could affect our stock price adversely Investors in our merchant banking funds may elect to remove us as the general partner of those funds at any time without cause. Such removal would lead to a decrease in our revenues, which could be substantial and lead, therefore, to a material adverse effect on our business A significant deterioration in the credit markets or the failure of one or more banking institutions could adversely affect our ability to access the cash invested by us We face strong competition from far larger firms and small independent firms Strategic investments, acquisitions and joint ventures, or foreign expansion may result in additional risks and uncertainties in our business. Greenhill is predominantly owned by its managing directors whose interests may differ from those of our public shareholders Employee misconduct could harm Greenhill and is difficult to detect and deter We may face damage to our professional reputation and legal liability to our clients and affected third parties if our services are not regarded as satisfactory We are subject to extensive regulation in the financial services industry Legal restrictions on our clients may reduce the demand for our services Fees earned in connection with advisory assignments in the bankruptcy context may be subject to challenge and reduction Our share price may decline due to the large number of shares eligible for future sale A significant portion of the compensation of our managing directors is paid in restricted stock units and the shares we expect to issue on the vesting of those restricted stock units could result in a significant increase in the number of shares of common stock outstanding The market price of our common stock may decline We have experienced rapid growth over the past several years, which may be difficult to sustain and which may place significant demands on our administrative, operational and financial resources We may be required to make substantial payments under certain indemnification agreements Cautionary Statement Concerning Forward-Looking Statements

Full 10-K form ▸

1282977--2/26/2009--GREENHILL_&_CO_INC