Can somebody explain Lehman's groups to me?
The groups at Lehman are extremely confusing for me. I have to speak with someone from Lehman HK in the coming week to discuss what opportunity I'm interested in. Hopefully someone can help.
From my understanding, Lehman divides its groups into Product Groups and Industry Groups. Industry groups are self-explanatory. The website confuses me, however, when it comes to product groups. Lehman lists M&A as a team within the products group. I spoke with someone at Lehman NY who works in an industry group (but this was a couple of years back) who told me that the website is incorrect, and that Lehman does not have a dedicated M&A team at all. He said that Lehman does all of its M&A work through its industry groups, directly via whichever industry is relevant to the deal. Does anybody know whether this is correct? Also, would this differ between Lehman NY and Lehman HK? (I will contact the NY person again to clarify before I have to speak with the recruiter from Lehman HK).
Aside from M&A/industry groups, I also somewhat fancy the Debtand Leveraged Finance group. I don't know very much about these groups - everything that I do know I've picked up via talking with analysts/associates working in the groups. I don't plan on staying in banking forever, and do hope to exit, eventually to bschool and possibly PE. I know absolutely nothing about PE. Can someone tell me which of Lehman's groups would offer the best exit opps into PE? (I'm supposed to speak with someone working at TPG in the coming week... would it be inappropriate to ask for his opinion on which group offers best exit opps?)