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i personally think they're always a better option, but hey...to each his own.
Well Greenhill's/Evercore's subprime and commercial mortgage exposure is literally zero. They don't have anyone worrying about overnight repo markets. As long as there's M&A, they will thrive. Greenhill's stock has actually gone UP for the past two days. I think that's a good indication of the position of boutiques in these markets.
blackstone's stock also went up on monday, even though it has fallen somewhat in the meantime. even so, they have undoubtedly picked up a few lehman clients along the way, and the m&a advisory group has just won the mandate to advise AIG on its $85 billion bailout: http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/i…
like other m&a boutique practices right now, blackstone is definitely a hot place to be. plenty of work to go around, plus no worries about getting laid off, since the organization is already lean as it is.
the role of the small, trustworthy advisor (i.e. Lazard/Greenhill) will still have a place in this economy, but it doesn't necessarily mean that they'll be doing deals. Even companies with cash rich balance sheets will be tentative (to say the least) in doing any deals. Right now just isn't a great time to be trying to get into banking.
I would definitely take it over GS or MS at this stage...but thats just my opinion..
Let's wait a week to see who still has to collapse / merge. Ugly...
...
Which would you choose: Moelis or CS/DB M&A
and why/why not?
moco la or ny?
Moelis
Moelis ny
aren't CS/DB safe havens right now?
You can always go to the Moelis London office. From my understanding, NY will be their headquarters, but I wonder if the big MDs will be going to NY or will they just hire new ones to fill up the NY office.
DB laid off 40% of their first years, so I don't know how they can be a safe heaven. In addition, DB has the WORST culture which can be confirmed by anyone who has ever had the displeasure to be part of it.
whats the DB culture like?
Terrible. I was in iBanking and I hated my life. I moved to equity research at a top bank (Well only MS/GS left so it is one of them) after my first year and it is not even comparable.
At DB you were treated like sub-human. No one cared about anything you might need or want. Associates spent no time developing analysts etc. People might say that's just the difference between banking and research, but my friends at MS/GS banking never experienced the shit I and my fellow analysts did.
DB is very political and cut-throat. People advance based on politics and not merit. THis is across groups/divisions. I had friends at TEchnology and HR and they all described the culture as "A Nest of Scorpions"
I will leave it at that
Reading this makes me glad I didn't make it to 2nd rounds.
I guess things work out for the best, after all.
You may be stuck in a shitty / average industry group at a BB, but you are doing M&A / Restructuring at the top boutique
GS/MS have low FT offer rates. Worst case scenario........ return offer from a top advisory boutique >>>> no return offer from average MS/GS group.
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