Greenhill & Co, Inc. is a Delaware corporation, which was established in 1996. The Company is an independent investment banking firm. It provides financial advice on significant mergers, acquisitions, restructurings, financing and capital raising to corporations, partnerships, institutions and governments. It has clients located throughout the world, with offices located in United States, United Kingdom, Germany, Canada, Japan, Australia, Sweden and Brazil. The Company's activities as an investment banking firm constitute a single business segment, with two principal sources of revenue: Advisory, which includes engagements relating to mergers and acquisitions, financing advisory and restructuring, and private equity and real estate capital advisory services; Investments, which includes the Company's principal investments in certain merchant banking funds, Iridium Communications Inc. ("Iridium"), other investments and interest income. The Company's competitors are other investment banking firms, merchant banks and financial advisory firms. It competes on the basis of a number of factors, including transaction execution skills, its and services, innovation, reputation and price. In its merchant banking business, the Company faces competition both in the pursuit of outside investors for its merchant banking funds and in identifying investments in attractive portfolio companies. The Company also operates in other locations throughout the world which are subject to regulation by other governmental and regulatory bodies and self-regulatory authorities.