Former CEO of Credit Suisse Brady Dougan is hatching plans to start a boutique financial firm that will advise and invest in companies after eight years at the helm of the Swiss finance company.

While missing out on the prestige of a larger firm, “boutique” firms focus on M&A advice and avoid lending and trading. And the firms’ low overhead lets the partners grab more profits, the Wall Street Journal reports.

These boutique firms are on the upswing—they snagged 19% of M&A revenue last year, more than double their 2008 total.

The move would put Dougan amount the ranks of a vast network of Wall Street alumni who stick around and advise on financial matters, competing with big banks and their former colleagues.

Still, during that time boutiques haven't had to face a recession, something that hits them particularly hard, given the corresponding downturn in M&A activity—and if some high-rollers are correct, there might be one on the way.