How is Credit Suisse Holding Up in LA?
Going through the forums, it looks like people were talking, especially around 2013, about CS LA going downhill. I know that they used to be one of the biggest players in LA, but are there any updates on them (I couldn't find any recent info)? How are they doing compared to current top shops in LA (e.g. Moelis, HL RX, etc.)?
Thanks in advance!
Allow me to just give this a bump. I'm sure at least some of you guys are familiar with things down in LA!
Haha, thanks again in advance!
test post
Wow, this website is looking really snazzy! Nice work!
I'm under the impression that CSLA and Moelis LA are still the top shops in the SoCal area with lots of sponsor work.
Yeah, Moelis is probably LA's top shop, but it's good to know that CS is still holding strong. Besides sponsors, do you know how the other CS LA groups (e.g. LevFin, M&A, etc.) are?
Thanks!
I have a lot of friends on the west coast and they tell me CS is the best for PE recruiting. Moelis does a lot of small M&A deals due to their boutique nature.
Oh, that's very interesting to hear. I had always though Moelis provided the best exit opportunities in LA. Thanks for the info!
I know that the sponsors group at CS LA is their top team. It appears that, at least to some extent, most people who work in sponsors don't exactly move onto PE (or at least that the exits are not as good as other groups). Is the sponsors group at CS LA just an exception to this, or is it their other groups that do well with PE recruiting? Personally, I'm currently looking at making a career out of banking (and I know that CS is now doing more to directly promote top analysts to associates), but it suppose that would be important to know this type of information as it's possible that my perspectives may change down the road.
Thanks to everyone answering these questions, by the way. It seems to be a bit difficult to find information about the LA banks/groups.
Cheers!
Sponsor groups typically hold strong relationships with buyside (PE) firms but will sometimes defer the modeling (technical) component to other groups. This is why even though they often recruit well (due to relationships and exposure to PE firms), people will knock them for their modeling skills (I don't necessarily agree).
At CSLA, the banking group does a mix of sponsors and lev fin work so you get to have both experiences. As the poster below me mentioned, there is only one group at CSLA. This means you'll get a mix of transaction types (though again, the focus is on sponsor / lev fin work). Hours are pretty tough by the way, but I assume you know that already.
Credit Suisse in Los Angeles only has one group according to my friend. It's known as being one of the most technical groups on the street.
Oh, I didn't know they only housed the one group. Thanks for letting me know!
Credit Suisse is one of the top shops in LA. Places its analyst pretty well for PE, but Moelis still has the best exits. CSLA does mostly financial sponsors and gaming and leisure. Because of the sponsor coverage, they also run most of the LevFin work by themselves as well.
Credit Suisse - Update on LA Office? (Originally Posted: 10/12/2011)
Hey everyone -- does anyone have an update on the CS Los Angeles office? Most of the posts I could find were several years old. Is it still a sweatshop? (I believe some of the top guys left over to Barclays.) What kind of hours should a prospective Associate expect to work? I know hours at any bank are bad, but the reputation for a long time was that this office in particular was horrendous.
are they recruiting?
They're done recruiting for FT.
Yes they are recruiting for summer analysts and summer associates for summer 2012. Anyone know the vibe of the office?
http://www.moelis.com/News/SitePages/news-feed-details.aspx?feedId=150
A senior dealmaker left a couple months ago. I think they only have 2-3 MD's left.
Wow - Moelis is really taking over in LA...
...as well as pretty much everywhere else
CS la still works hard and still has great exits if you want a buyside job
Credit Suisse LA downsize? (Originally Posted: 07/09/2013)
Has anyone else heard of this? I've heard from people in my office in SF and a few other analysts in NY/LA.
I was in touch with them and was interested in recruiting with them FT (currently at a BB in SF as an SA) but have heard that recently they lost 1 senior guy to Goldman's IB group in Los Angeles and another 2 senior guys to Guggenheim Partners IB team in Los Angeles.
Are these recent departs just a coincidence with the circulating rumors? Anyone hear anything about this? I would love to know before I go through accelerated recruiting in about a month. Thanks.
u nvr know turnover or poaching very common - i know barcap had quick turnover only in NYC tho -_-
anyone else???
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