Banks with solid TMT groups
Curious to know what banks have good TMT groups in NYC. If you have any insight, maybe some pros and cons of the group would be helpful as well. Thanks!
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Goldman
Pros: its the best
Cons: you may never see the sunlight for two years
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Lot of banks split up TMT now. Are you looking for tech, or groups that still do both?
Tech or media
As stated above, a lot of the BBs split up TMT where NY takes media/telecom and SF takes traditional tech.
Good TMT groups in no order
GS
NY - media and telecom, SF - technology
MS
NY - media/comm + separate tech group, MP - technology
JPM
NY- media/comm, SF - technology (coverage and M&A are separate)
BofA
NY - media/telecom, Palo Alto - technology (M&A and coverage are separated)
CS
NY - does entire TMT under one group, SF - separate technology group
JEF
NY - technology group + separate media/telecom, SF - traditional technology
EVR
NY - I believe technology and media/telecom are separate groups, Menlo Park- traditional technology
GS TMT NY does a lot of tech as well. I’d say 30% of the dealflow comes from software
Would probably add Barclays to this list. They killed it in Tech this year.
Yeah. Believe they also have a strong presence in NY whereas many others (minus GS) dont
How is Lazard TME?
BofA TMT NY does tech as well, just not as much as Palo Alto.
CS is wrong. Tech is split between NY and SF and M&T is a separate group in NY
BofA has tech bankers in NY as well.
JPM has Tech in NY and SF, not just SF
I think I saw a job posting for a JP LA Tech group too
I may be misinterpreting the way you have it set up, but JPM also has a tech group in NY.
EVR has 3 separate groups: Tech, Media and Telecom in NY
GS TMT / MS Tech / Qatalyst / Allen
Everyone else kinda sucks
Might add liontree if adding allen but yes
Qatalyst isn't in NYC though and Allen has a terrible analyst program
LionTree is solid
Thoughts on MS Tech in NY as opposed to Menlo?
Menlo is way better. Every important person in the group sits in Menlo, way more analysts, group just bigger in general. Given their share of the best seniors they also get the best deals. Only reason to do NY is to be in NY but don’t think the trade off is worth it
Thanks for the response! Super helpful to get your perspective there. As a quick followup, it's my understanding that they still do M&A in house and still do well for recruiting given that PE firms see Menlo and NY the same. Any thoughts on why the tradeoff still wouldn't be worth it in that case?
Raine is a sleeper that is underrated by many
Can't believe people are straight up ignoring Liontree for media. It appeared on succession, therefore, it is now the best.
Barclays is only BB afaik where NY tech is probably stronger than the MLP/SF counterpart. Increasing market share and winning some key mandates over last 18-24 months. Obviously doesn't hold a candle to the Qs and GSes of the world.
SVB Leerink Tech, tons of noise here on them. Is it legit?
How does BofA Palo Alto Tech compare to others like GS/MS/CS/EVR/etc...
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