Hi There,
I am going to be joining Bank of America as a summer analyst this June. I am very interested in the financial sponsors and healthcare group and wanted to get some more detail on the groups if anyone is familiar.
Interested to hear about the exits for healthcare, whether it is common to exit into upper MM general buyout funds and am interested to hear a bit about staffing/deals that have come through as well as quality of the experience. I understand that the hours are particularly bad in healthcare, but that's to be expected in general and I am very interested in healthcare.
Both are ok. You'll be able to find a PE job, but megafunds will be more rare (and they're already rare, even in top groups on the street). If you're looking purely for exits I would go M&A or LevFin
Thanks Smokey, I am not as interested in megafund exits, while I recognize it would be nice I think it would be better for me to target upper MM. As long as the two groups can get me there with reasonable certainty, then I am in good shape.
Friend who worked in BAML healthcare last summer said the hours were actually pretty good -- apparently having 40% more SAs really helps distribute the workload
It was good for the SAs because they had some max hour limit. FT Analysts and Associates get killed.
It was good for the SAs because they had some max hour limit. FT Analysts and Associates get killed.
Can confirm the above statement
I have heard of people going to Leonard Green from BAML sponsors, so clearly it can't be too bad. I have no idea who does the heavy lifting for the modeling though between FS/LevFin (I'll assume LevFin because of their balance sheet).
From what I hear, financial sponsors actually does the heavy lifting on modeling. That's not to say lev fin doesn't, but that's what I have heard from speaking to multiple lev fin and financial sponsors analysts
Heard BAML Healthcare is a sweatshop. I've had some good friends work in BAML Healthcare in NY and SF and both have gotten crushed. Met another SA from BAML and I'm pretty sure he worked in Sponsors. He said his hours weren't bad at all.
FSG is a solid group. Would take that over HC.
BAML Healthcare Group (Originally Posted: 04/03/2015)
Heard several senior bankers left BAML Healthcare - is HC still a strong group at BAML?
It's an industrywide departure http://www.reuters.com/article/2015/04/14/healthcare-bankers-idUSL2N0X5…
People see all the money flying around and obviously in this industry no amount of money is ever enough. A lot of banks have been losing healthcare bankers to the boutiques (Guggenheim, Centerview and Greenhill specifically).
BAML, JP and GS are typically the two top banks on the street for healthcare. I would imagine that Goldman may come out on top, JP will probably be close to GS and BAML will probably be third, but it's just a year to year thing.
The reputation of the BAML group should be fine. The strong reputation of the group stuck around even through the terrible times from 2008-2012. Maybe deal-flow may suffer slightly, but that would probably be more related to the boutiques taking positions on more deals than previously.
Just some thoughts.
It'll be fine, it's just poaching season.
BAML Financial Sponsors Group (Originally Posted: 04/20/2015)
Every other thread seems outdated and I wanted to ask you guys about FSG at BAML?
What are the exit opps like in this group? MF or more MM PE firms?
bump
What location is this for?
NYC
BAML (BofAML) Healthcare Group (Originally Posted: 10/26/2010)
Hey all,
I have a group specific interview with healthcare group at BofAML. I was just wondering what the dealflow, exit opps, as well as reputation were like. How well does it stack up against other healthcare groups on the street?
Thanks.
i heard pretty decent things about their team..........a lot of hours might be a sweat shop but they seem to have a decent amount of deal flow......are you interviewing for a immediate position or is this for the summer/next fall......is it for an analyst position?
They are good. Between Baml and JPM they are both are both "sweat shops".but so is everything else when you're junior at an BB IBD
This is for an analyst position
The legacy Merrill group took HCA private a few years ago with KKR and Bain Capital. When it goes public again, that group should be involved as well.
Wrong. That group is now at Centerview and the current HC group at ML has nothing to do it. Another BB will run the IPO.
correct virtually none of the legacy ML HC guys are left at BofA actually, i don't think any are
Hate to revive an old link but BAML is running the HCA IPO.
http://retailroadshow.com/sys/docView.asp?i=1114
ipos suck. baml sucks. everyone at ML left to boutiques like mine.
good one boutiquebank. I wish we were all as awesome and helpful as you.
Awww...boutiquebank4life has a stick in his ass from all the BB banks telling him not to let the door hit him in his vagina on the way out.
One of my friends was in that group. It's pretty strong, as both legacy ML and BofA had good healthcare teams. A ton of people got canned in the merger and some took off on their own. My buddy had a good exit, I won't name which firm but I remember being surprised that he got it.
Any thoughts on BAML Financial Sponsors SF? (Originally Posted: 10/17/2013)
I have a FT interview with them in two weeks and I was wondering how there deal flow/exit opportunities are.
One of the top groups in BAML (largely due to them tossing around their massive balance sheet). Arguably the best exit ops in BAML IBD. The one guy I know who went there went to Leonard Greene (although that was ~2 yrs ago to be fair). This is for NYC though...
Realizing that your post is for San Fran though, I'm not quite as positive if this is the case, but I imagine it is similar and that they have great exit ops to west coast PE/VC
I interviewed with the team a while back. Unless things have changed, the team is EXTREMELY lean, we're talking about pretty much a straight line (maybe 1-2 analysts, 1-2 associates, etc).
The deaflow is strong but I was warned by someone leaving the firm that it was a high pressure sweatshop. Exits have been good, but with a team so small you have a very limited sample.
bump
OP's gigantic username is destroying the layout of the new threads.
Merrill Healthcare division (Originally Posted: 04/14/2008)
Anyone have any insight into this group? I hear it's one of the best on the street, and it also works you hard. Thanks
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