2/12/13

First time poster, long time lurker.

I was wondering if anyone has any advice about Raymond James NY, specifically their healthcare group (although general knowledge is still appreciated), or any other useful nuggets of information either in regards to group, culture, any places that have other useful information, general info, etc. [I used the search function but didn't really find a lot of info on this bank].

I would also be interested to learn about the integration of Morgan Keegan into Raymond James, since it's my understanding that basically 80% of the NY office is just ex-Morgan Keegan bankers who were kept on after Raymond James acquired them.

Thank you.

Comments (7)

2/28/13

bump.

"They are all former investment bankers that were laid off in the economic collapse that Nancy Pelosi caused. They have no marketable skills, but by God they work hard."

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2/28/13

DId you have the interview already ?

As a general rule of thumb, healthcare investment banking groups are sweatshops across the board. Yes, even the boutiques w/ non-existent deal flow.

2/28/13

DaisukiDaYo:

As a general rule of thumb, healthcare investment banking groups are sweatshops across the board. Yes, even the boutiques w/ non-existent deal flow.

I always hear this. Is it just because healthcare is very active now, or am I missing something?

"They are all former investment bankers that were laid off in the economic collapse that Nancy Pelosi caused. They have no marketable skills, but by God they work hard."

2/28/13

Mostly it's because the space is extremely competitive and there are a few big players while the rest barely cough up any fees. So you'll be spending a huge amount of time pitching and doing useless amounts of irrelevant work to even get a glimpse of a fee, and this is at a mid-BB.

I feel bad for the mid market and boutique guys, as listed above even with 0 deals and nonexistent pipeline you will be pitching 24/7 and working your ass off with nothing to show for it.

2/28/13

SanityCheck:
Mostly it's because the space is extremely competitive and there are a few big players while the rest barely cough up any fees. So you'll be spending a huge amount of time pitching and doing useless amounts of irrelevant work to even get a glimpse of a fee, and this is at a mid-BB.

I feel bad for the mid market and boutique guys, as listed above even with 0 deals and nonexistent pipeline you will be pitching 24/7 and working your ass off with nothing to show for it.

Thank you for your sympathy - :) Maybe I need to re-think my career plan since I'm interested in / have a background in HC and am likely going to end up at one of the MMs or boutiques.

"They are all former investment bankers that were laid off in the economic collapse that Nancy Pelosi caused. They have no marketable skills, but by God they work hard."

2/28/13

One of the reasons :) A lot of the teams are understaffed, plus you typically bank both west and east coast firms - therefore, the timezone difference just wrecks you. My take on this is that healthcare is always around, in good times and bad, so you don't really see any ridiculous increase/decrease in deal flow (so marathon year round). Better hope you only bank pharma on the east coast :p

This past year, IBD has seen a lot of DCM activity due to one of the hottest debt markets in the past decade or so, as well as refinancings and other meaningful cap markets activity. This is more meaningful for healthcare firms since many tend to refi/prepay debt on a cyclical basis.

And of course, all the traditional ibanking rules apply.

2/28/13
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