Monika Nickl has built not one, not two, but three successful M&A advisory firms over the past two decades. Most recently, she co-founded TCG Corporate Finance, a tech-focused boutique that quickly scaled to more than 30 professionals across four offices in just two years. In 2024, that success was recognised when TCG was acquired by Lincoln International, marking a major milestone in European mid-market investment banking.

In our discussion, Monika reflected on her entrepreneurial journey and the leadership principles that have guided her growth. For anyone looking to build a career or a firm with purpose, you will enjoy this interview.

Monika’s advice to early-career bankers is surprisingly visual: think of yourself as a penguin. Penguins may appear awkward on land, but in the right environment, the water, they move with power and grace.

“You can be incredibly talented,” she says, “but if you’re in the wrong environment, you’ll struggle. You have to find your ‘water’, a role model and a culture that supports your growth.”

Don’t just chase the big-name brand. Prioritise cultural alignment and leadership that will elevate you.

Culture isn’t an afterthought it is a foundation. Monika believes the best firms aren’t those that pay the highest salaries, but those that educate, empower, and recognize their people. From personalised “thank-yous” to transparent compensation structures, Monika focused on the little details that make a team want to stay.

Great culture is built on empowerment, trust, and transparency and it starts at the top.

Monika is clear: don’t wait until VP to start networking. Build relationships with your peer group across private equity, law, and advisory from day one. These are the people who will grow into decision-makers alongside you.

Relationships are a long game. Start early, be consistent, and don’t only show up when you need something.

As AI and standardisation accelerate, the M&A process is becoming less differentiated. What wins mandates now? Deep sector insight.

“The process isn’t magic anymore,” Monika explains. “What matters is truly understanding the value drivers of a niche and being passionate about it.”

To win in the next decade, become a sub-sector expert. Passion isn’t just a bonus, it’s your edge.

Monika shares one of the most powerful lessons from her own mentor: don’t try to become one of the boys. Instead, own your distinct strengths and bring them to the table.

She also points out the industry’s failure to retain women during the “drop-off phase,” typically when starting families. Firms must offer more flexibility and Monika compares motherhood to managing an M&A deal: both require time, discipline, and teamwork.

Gender diversity isn’t just about hiring, it’s about supporting. And authenticity is a leadership superpower.

Far from seeing AI as a threat, Monika believes it’s a catalyst for transformation. As AI takes over “desktop work,” clients will demand more senior-level thinking, judgment, and insight.

AI will automate tasks, but strategic judgment and negotiation will be more valuable than ever.

Drawing inspiration from Any Given Sunday, Monika reminds us that greatness is earned inch by inch.

“The difference between good and excellent is often tiny,” she says. “But you have to fight for that inch every day.”

Success is rarely linear. Resilience, discipline, and consistency are what set leaders apart.

Monika Nickl’s story is one of clarity, conviction, and continual reinvention.

From scaling boutiques to embracing AI, from championing women to building cultures that last, her leadership blueprint is one every investment banker can learn from.

Lincoln International’s and Monika’s next chapter will be one to watch.

Interested to hear more from Monika?! Check out the full interview below.

Spotify Link / Apple Link