Hey everybody,
Just wondering what everyone thinks of these banks. Obviously you've probably never heard of them but just check out there websites if you would and post your thoughts. Would you classify these banks as boutique, mm, or something else?
http://theastorgroup.com/home.html
http://www.ameritechadvisors.com
Which one would you prefer to intern at based on their websites?
Ill start off by saying I have no experience with either of these boutiques, but ill offer some advice to help you decide (assuming you have offers?). The banks seem quite different (Brazil cross-border vs Tech), so which sector do you prefer? If you want to do TMT later on in life, i'd say Ameritech would make more sense (unless it appears worse in the points i'll address next). Second thing to look at is deal flow, which I havent really been able to gauge very well from either. If you have to choose solely on the site, I think Astor Group seems to be more active (AmeriTech last press release was feb 2013). However, I would try to find out more from each about what they are working on, what the interns will be responsible for doing, how much mentorship vs bitchwork is involved, etc. Reach out to some of the bankers there to get a feel for each and do some more intensive searching for deals they have worked on lately
Hope this helps to guide you in gathering information and making a decision
Thanks, that definitely helps a lot. The only problem is that these banks are very small and I've already talked to pretty much all the bankers there. I'm going in to meet with them this next week so hopefully will find out much more then and will decide primarily based off of the work I will be doing.
I have one more question however: One of the websites says that they "prepare detailed analyses of comparable transactions and benchmark the fundamentals against precedent transactions to obtain optimal pricing." Some clarification on this statement would be very helpful. I know how to do/what trading comps and transaction comps are but am confused about what benchmarking the fundamentals against precedent transactions means. Is it just referring to when you compare the financials statistics and ratios of the target to the acquired companies in past transactions?
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