Thoughts on Texas Capital new IB group
Looking for opinions on TCB IB out of Dallas now that it’s been up & running for the last year & have had a SA & FT A class run through.
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Senior bankers look quite weak and this seems like a half-assed attempt to really put forth a legit LMM/MM group.
not a good place to be at any level. bad MDs, no foundation, lost juniors.
I thought MD's on linkedin looked good, but interviews and experience reviews on WSO database look horrendous. No technicals asked, average tenure <1yr, and don't offer competitive pay which doesn't seem to attract competitive talent.
What's the pay like?
MDs are quite weak, both on paper and in practice. Let's just say they didn't necessarily leave their old firms on their terms.
Could I PM to discuss?
.
solid runway for at least 3 years. would be a good place vs MM/commercial banks like M&T, Key, US Bank doing leverage/pro rata deals
Any update on their IB franchise these days?
AN2 here, all analysts are “pooled” aka we cover M&A, lev fin, DCM and ECM. Not sure what everyone above is talking about because I love it here. I figured I’d do my 2-year stint and leave banking due to the nightmares you hear about it, but it’s been the opposite. I’ll hopefully stay on for at least a couple more years.
115k base, 35% bonus, hardly ever work over 70h a week. I’d say average is closer to 60. We’re closing deals and learning a LOT about each service and vertical so I really can’t complain.
Do you know what comp is at the associate level?
One of the MDs got pushed out rather quickly from an MM.
Could I PM?
Top bank, if your parameters are choosing a bank with the word texas in it.
I've heard a bit about what's been going on at TCB. Apparently, they are looking to be acquired already. TAP Advisors in NY, specifically the TMT group, is looking to merge and deploy some of their own resources to Houston. One of my buddies is an associate there and he told me they think there are around $200MM of synergies if the banks were to merge. Pretty interesting stuff
AN1 at TCB currently… can confirm! Synergies will be through the roof… surely to be accretive…
Lol we have a total of 9 IB AN1s and you surely aren’t one of them. This is fake news
Congrats - you’re shortlisted for most outrageous comment of 2023.
you think a ~30 person IB team at Texas capital can be acquired and has $200mm of synergies?
their total G&A isn’t anywhere near $100mm - are you going to fire everyone 3 times?
From what I've heard, TAP is looking to also fire all of HR, 1/2 of commercial (think clerks when you walk in to withdraw cash), and the entire custodial staff.
Who's the monkey now??
Yes. Why not?
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