As the investment banker Paul J. Taubman builds his boutique firm, he is bringing on one of his longtime clients as a consultant of sorts.
Mr. Taubman’s firm, PJT Partners, has hired David J. Stern, the former commissioner of the National Basketball Association, as a senior adviser on what Mr. Stern insists will be more than just sports deals.
It is one of the first major appointments to be announced by PJT after it began its new life as a publicly traded company.
Mr. Taubman’s relationship with Mr. Stern dates back more than two decades, when Morgan Stanley advised the N.B.A. on its expansion into Toronto and Vancouver. Since then, the two men regularly kept in touch.
Though Mr. Stern said that he had been asked — and had rejected — inquiries about playing a similar role at other firms, when Mr. Taubman approached him about becoming an adviser, he said yes.